The global smartphone screen protector market size is expected to reach USD 84.43 Billion in 2030 and register a revenue CAGR of 6.7% over the forecast period, according to a latest report by Reports and Data. Rise in per capita income and increasing demand for smartphones globally are expected to drive market revenue growth during the forecast period. In addition, rising adoption of e-services through mobile applications is another key factor that is expected to increase the demand for smartphones as well necessary accessories like smartphone screen protectors and thereby drive the revenue growth of the market.
Rise in per capita income in developing countries has significantly increased the purchasing power of middle class consumers. According to the Annual National Income data released by the Ministry of Statistics and Programme Implementation (MoSPI) in India. The per-capita net national income of an Indian during 2019-20 was estimated to be a rise of 6.8% as compared to 2018-19. Similarly, according to World Economic Outlook report published by the International Monetary Fund (IMF) in 2020. China is expected to overtake 56 countries by 2025 in terms of per capita income. The rise in per capita income is expected to drive people to seek sophisticated handheld devices such as smartphones, which can support numerous useful applications to make life convenient. This is expected to contribute to the revenue growth of the market.
Increasing demand for smartphones globally has led to rise of numerous smartphone manufacturers working towards selling smartphones at a competitive price. Besides, there has been a significant rise in domestic companies in developing countries and smartphone manufacturers providing enhanced features such as high Random Access Memory (RAM), high resolution cameras, and others at a feasible price in order to meet the domestic demand. Rising demand for smartphones is expected to further drive the demand for smartphone screen protectors, thereby driving the growth of the market significantly.
Similarly, increasing investment in manufacturing new smartphones has led to the introduction of number of new variants of smartphones. For instance, Samsung Galaxy Fold was released in 2019, which has a feature of horizontal folding. The device is capable of being folded open to expose a 7.3-inch tablet-sized flexible display, while its front contains a smaller cover display, intended for accessing the device without opening it. This is expected to give rise to new types of smartphone screen protectors, thereby driving the revenue growth of the market. However, halo effect produced by screen protectors due to improper fitting is a significant factor hampering revenue growth of the market.
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Some Key Highlights in the Report
- Glass segment is expected to account for largest revenue share in the global smartphone screen protector market between 2021 and 2030, due to its durability and flexibility, as well as environmentally friendly manufacturing process.
- 3D segment is expected to register rapid revenue growth over the forecast period due to rising production of phones with curved edges, which in turn leads to more demand for 3D screen protectors.
- Market in Asia Pacific is expected to account for steady revenue growth in the smartphone screen protector market over the forecast period than other regional markets due to presence of numerous smartphone manufacturers providing cost-effective products.
- Companies profiled in the global market report include FeYong Digital Technology Limited, Shenzhen Yoobao Technology Co. Ltd., ZAGG Inc., NLU Products, L.L.C., Belkin International Inc., AZ Infolink Pvt. Ltd., Corning Inc., Nippon Electric Glass Co. Ltd., SCHOTT AG, and Clarivue.
- In December 2021, SCHOTT AG announced a new product that is world’s first smartphone to feature Xensation alpha. It is the latest generation of cover glass to be launched by the company, which offers improved drop resistance compared to Lithium Aluminosilicate (LAS) and Aluminosilicate (AS) cover glass types.
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