The car phone holder market is expected to grow to a value of US$ 1.05 billion in 2023 and is forecast to register a CAGR of 5.7% from 2023 to 2033, reaching US$ 2.04 billion in 2033.
The car phone holder is the most convenient and easiest-to-use option for holding the phone in a car. The premium and multi-utility car phone holder used for attend calls, check emails, access Google maps, and perform different tasks without holding the phone in hands.
Car phone holders can be also used to hold the smartphone in place near the dashboard, for making it easy to use the phone for GPS navigation system or maintain hands-free calling. The need for a secure and safe phone while driving on the road has boosted the demand for a car phone holder for the past few years.
Nowadays, most of the car accidents are caused by mobile phone usage while driving.
For instance, the Insurance Institute for Highway Safety declared fatal crash risk is 66 percent higher when manipulating a phone. A good car phone holder can reduce those risks and improve driver and vehicle safety.
Car phone holder provides a wide range of applications with installing and using car phone mounts to allow securely and safely control the car’s entertainment system, and provide wireless car charger.
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Impact of COVID-19 Pandemic Outbreak on Car Phone Holder Market
The COVID-19 pandemic is impacting the global car phone holder market, affecting key supply chains, supply-side and demand-side challenges, and more industrial applications.
Weakening manufacturing confidence and low demand for raw materials and commodities are heightening the uncertainty for the car phone holder market.
The production facilities of the automobile parts have been halted owing to the production slowdown and unavailability of the workforce across the globe.
The car phone holder market increase 6% market growth in 2019 as compared to the year 2018, which could post COVID-19 the market for car phone holder declining growth -1.5% in 2020.
However, according to estimates, if the COVID-19 pandemic situation gets controlled during Q3-Q4, 2020, the market for car phone holders would recover soon and is estimated return to growth by Q2, 2021.
Car Phone Holder Market: Drivers and Restraints
The global car phone holder market is expected to witness significant growth during the forecast period, which can be attributed to the increasing adoption of different types of car phone holder such as air vented mount, CD slot mount, suction cup mount and adhesive mount and growing demand for versatile and flexible car phone holder worldwide.
The car phone holder offers various benefits such as attend calls easily, music access, play movies, and a secure and safe journey during navigation. The growing demand for GPS for navigation to help the car taxi drivers need to keep track of their journey is expected to create a huge opportunity for the global car phone holder market.
Growing adoption wireless devices such as wireless car charger mount among others due to advancements in wireless technology are also driving the car phone holder market.
However, as the vent-mounted models with magnetic attachments was slightly less reliable, lack of standardization in the technology and components used for the manufacturing of car phone holder, which could pose a bigger challenge.
Piracy is a major threat to car phone holder markets, and a restricted development environment, among other factors, are anticipated to restrict the growth of the car phone holder market over the forecast period.
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Car Phone Holder Market: Competition Landscape
- Arkon Resources, Inc.
- Baseus
- Brodit AB
- iOttie, Inc.
- Kenu
- Olixar
Car Phone Holder Market: Regional overview
Based on the region, car phone holder market has been segmented into North America, Europe, East Asia Latin America, South Asia & Pacific, and MEA (the Middle East & Africa).
North America & East Asia followed by Europe accounted for largest market share as many car phone holder manufacturer are present in these regions due to advancement in technology and high business growth rate in this region.
South Asia & Pacific is expected to grow at highest growth rate during the forecast period due to increasing disposable income and growing global population.
The car phone holder market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with car phone holder market attractiveness as per segment. The car phone holder market report also maps the qualitative impact of various market factors on car phone holder market segments and geographies.
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Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Rest of LATAM)
- Europe (Germany, Italy, U.K, Spain, France, BENELUX, & Russia)
- East Asia (China, Japan, & South Korea)
- South Asia & Pacific (India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, Turkey, South Africa)
Car Phone Holder Market: Segmentation
The car phone holder market has been segmented on the basis of sales channel, type, and region.
On the Basis of Sales Channel
- Online Sales
- Offline Sales
On the Basis of Type
- Air Vented Mount
- CD Slot Mount
- Suction Cup Mount
- Adhesive Mount
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