The global smartphone screen protector market size is expected to reach USD 56.51 billion by 2024, at a registering a CAGR of 6.8% over the forecast period, according to a new report by Grand View Research, Inc. Increasing demand for the product in premium devices such as iPhone 6, iPhone 6s and Samsung Galaxy Note series is expected to drive industry growth. In addition, repurchase of the screen protectors during the product life is expected to bolster demand.
Increasing smartphone sales primarily in the developing economies such as India and China are driven by improving spending abilities of the consumers is expected to drive industry growth. In addition, increasing demand for smartphones manufactured by Chinese vendors such as Xiaomi Inc. and Oppo Electronics Corp is expected to drive the product growth. Furthermore, the emergence of low-cost screen protector manufacturers, particularly in Asia Pacific is expected to drive the demand over the projected period.
Tempered glass emerged as the most prominent material used in manufacturing the product owing to superior risk mitigation properties. Also, the market is expected to witness increased internal substitution with consumers exhibiting high affinity towards the tempered glass screen protectors. Furthermore, superior adhesive characteristics coupled with declining prices of tempered glass screen protectors is expected to drive the demand for such screen protectors over the forecast period.
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Further key findings from the report suggest
- PET segment is expected to witness decline at a rate of over (6.1%) over the forecast period. Increasing rejection of the PET products owing to limited screen protection coupled with easy discoloration is expected to drive the growth over the next eight years.
- The >USD 700 application segment demand is anticipated to increase to over 475 million units by 2024 owing to growing demand for premium smartphones over the forecast period. In addition, rising concerns regarding the safety of high price smartphones are expected to drive the product growth.
- U.S. is expected to grow at a CAGR of over 6.9% from 2016 to 2024 owing to increasing adoption of premium technology high price smartphones. Also, increasing demand for protective smartphone accessories coupled with high disposable income of the consumers is expected to translate into increased growth over the forecast period.
- Key participants include Belkin International Inc., Bodyguardz, intelliArmor, Zagg Inc., Free S Speed International Co. Ltd, Jiizii Glass, Clarivue, FeYong Digital Technology Limited. Corning Inc., and AZ Infolink Pvt. Ltd.