The global Screen Guards 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.
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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Smartphone Screen Protector Market: Drive factors
The Screen Guards Protector Market has experienced significant growth over the years due to various driving factors. As of my last knowledge update in September 2021, these factors include:
- Rising Smartphone Adoption: The increasing global adoption of smartphones has directly contributed to the demand for smartphone accessories, including screen protectors. As more people purchase smartphones, the demand for protective measures to safeguard their device screens grows as well.
- Device Cost and Repair Expenses: Smartphones have become more sophisticated and expensive, making users more inclined to invest in protective accessories like screen protectors to prevent damage. Repairing or replacing a damaged smartphone screen can be costly, making prevention a more attractive option.
- Increased Awareness of Protection: Consumers are becoming more aware of the potential hazards that their smartphones face in everyday use, such as scratches, cracks, and shattered screens. This growing awareness has led to a greater emphasis on protecting smartphone screens through the use of screen protectors.
- Technological Advancements in Screen Protectors: The screen protector industry has evolved to offer a wide range of products, including tempered glass protectors, anti-glare protectors, privacy protectors, and more. These advancements have led to increased consumer interest and adoption of screen protectors tailored to their specific needs.
- Fashion and Customization: Screen protectors are not only functional but can also be a fashion statement. Many manufacturers offer screen protectors with various designs, colors, and textures, allowing users to personalize their devices while also providing protection.
- E-Commerce and Online Retail: The growth of e-commerce platforms and online retail has made it easier for consumers to access a variety of screen protector options from different brands and manufacturers. This convenience has contributed to the overall market expansion.
- Awareness of Environmental Impact: Some consumers are concerned about the environmental impact of constantly replacing damaged smartphones or accessories. Screen protectors can extend the lifespan of devices, reducing electronic waste and appealing to environmentally conscious consumers.
- Globalization and Urbanization: The increasing urbanization and globalization trends have resulted in higher disposable incomes in many regions. This, coupled with the urban lifestyle, has led to a higher demand for smartphones and their accessories, including screen protectors.
- Product Innovation and Marketing: Manufacturers continue to innovate and develop new screen protector technologies that offer enhanced protection and features. Effective marketing campaigns that emphasize the benefits of using screen protectors have also contributed to market growth.
It's important to note that the smartphone industry is constantly evolving, and new driving factors may have emerged since my last update. Additionally, market dynamics can vary by region and consumer preferences. For the most up-to-date information on the smartphone screen protector market, I recommend consulting recent market research reports and industry analyses.
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