The most popular product in the world?

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Updated: June 7th, 2022

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The most popular product in the world?

Today 6.6 billion people in the world own a mobile phone. That’s 83% of the world’s population.

Can you think of any other product with such crazy market penetration?

And if you think back, among your friends and family, how many of them have bought cases, chargers, screen protectors or other accessories? I bet that’s pretty close to 100% too, right?

We’re talking about a huge business opportunity. The market is projected to reach $284B by 2026.

And if you expand it to all kinds of gadgets - laptops, tablets - the opportunity is even bigger.

This business taps into that market and just doubled its revenue to reach $1.4M/year.

And there are countless more businesses thriving in this space:

Want even more ways to make money thanks to these devices? Check this $3M/year repairing iPhones and iPads business.

By the numbers:

7.5B -> projected mobile device users by 2026
$27B -> expected iPhone accessories market size by 2026
72% -> of all internet users will solely use smartphones to access the web

Our take:

The 3 top reasons to build a company around this market:

#1. The number of users is going to grow non-stop. You’ve seen the figures, they cannot be matched by any other industry.

#2. People who spend hundreds of dollars on average on a mobile device, won’t have much trouble spending a few bucks on a case, screen protector or portable battery.

#3. The average life cycle of these devices is 22 months. That’s a high rotation. Which means many people could be returning customers and not one-time purchasers.

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Quick hitters

(1) This guy started a $96K/year business washing cars. Yes, as simple as that. But, guess what? Successful businesses don’t need to be sophisticated!

Cars are important to people, and owners will spend big money on them from the time of purchase until their sale/retirement. Making possible a wealth of business opportunities: $2.4M/year making custom license plates, $1.2M/year selling leather accessories, $6M/year platform to buy used cars.

(2) This online community makes $360K/year. Most people get a poor financial education - if any. The growth of this Discord community proves there’s a demand for learning and making better decisions.

Can you help people make the most of their finances? Then there’s a business opportunity for you. Just like these: $192K/year investment opportunities newsletter, $600K/year budgeting app, $26M/year stock market information, $240K/year spreadsheets templates.

Getting people fit is lit

Prior to the pandemic, the online fitness market was valued at $6B. But then people got locked in their homes and started exercising without going to the gym.

Result? Fitness apps downloads grew by nearly 50% during the first half of 2020.

Currently, the fitness technology industry it’s expected to reach a $59B value by 2027. This massive growth along with a drastic shift in habits is going to open a world of possibilities.

This former Obama employee is identified this trend and raised $400K with this simple idea.

Here are more successful case studies if you want to dig deeper into this trend:

Thanks for reading!

meet the author

Pat Walls

I'm Pat Walls and I created Starter Story - a website dedicated to helping people start businesses. We interview entrepreneurs from around the world about how they started and grew their businesses.

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