The mobile phone accessories market to reach $ 107.3 billion by 2022, globally

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The Cell Phone Accessories Market Summary can be accessed on the website at https://www.alliedmarketresearch.com/mobile-accessories-market

Factors driving the growth of the market are increasing demand for wireless accessories, growing smartphone adoption, and increasing disposable income in developing countries such as China, India, and Brazil, and a strong distribution network in China, Indonesia, Brazil, and Russia. In addition, the growth of the market is expected to be driven by increasing sales of smartphones and increasing internet penetration, popularity of social networking websites and increasing customer need for convenience, which can be delivered with mobile accessories such as power banks, headphones and others. Budget, safety, and introduction of noise canceling technology further enhance technological advancements in this market. However, the excessive use of headphones affecting the hearing ability of users is a major limitation which restricts the growth of the market.

The offline segment accounted for around 75% of the overall mobile accessories market in 2014, as the majority of people prefer to buy mobile accessories from local stores rather than online stores. Additionally, e-commerce is expected to be the fastest growing segment and is expected to register a CAGR of 10.2% during the forecast period. This is due to the growing trend of mobile shopping, cash on delivery, variety of options, and fast and secure refunds.

Headphones segment is expected to maintain its lead due to its ease of access and compatibility with other audio systems via Bluetooth or Wi-Fi connectivity. Power bank segment is expected to show the fastest growth rate. high, with a CAGR of 9.2% due to the rapid economic development, increasing consumer purchasing power and improving living standards, as well as increasing processor speed, the use of security and the growth of digital content. In addition, increased competition between regional and global players is expected to lower the average selling price of food banks in the future; this would lead to increased adoption of food banks.

“In the recent past, the demand for newly marketed smartphone accessories, such as power banks and portable speakers, has experienced significant growth due to consumers’ need for portable backup power and increased internet usage compared to digital products such as smartphones, tablets, phablets and others. The need for on-the-go entertainment has increased the popularity of portable speakers among smartphone users and is expected to increase further over the forecast period, ”as stated Deepankar bose, head of the consumer goods research area at AMR.

Protective cases generated the highest revenue in 2014, accounting for around 21% and this growth is expected to increase over the forecast period. This growth is attributed to companies that continually focus on designing lightweight protective cases to provide customers with the convenience of holding their smartphones.

Asia Pacific accounted for the majority of income and is expected to maintain its dominance, due to the increased production of mobile phones in countries such as China, India, Japan, Singapore, and Australia. In addition, the increase in disposable income, the proliferation of e-commerce websites, the digitization of infrastructure with increased purchasing capacity of consumers, the availability of low-cost products and the changing lifestyle offer opportunities. lucrative opportunities that fuel the market growth in this region. Developing countries such as India and China have a high rate of economic growth, which is fueled by industrial and commercial development. The consumer electronics market is in its growth phase due to the presence of the best players in the industry of Japan and China, which focus on low cost wireless products to capture market share. Companies manufacture their products in the Indian and Chinese markets due to low operating costs and raw material prices, and the availability of human labor.

Main conclusions of the study:

  • In 2014, the offline segment dominated the market revenue and is expected to grow at a CAGR of 6.6% during the forecast period.
  • The online segment is expected to grow at a significant CAGR of 10.2%, due to the upward trend in mobile shopping.
  • The mid-price range segment is expected to grow at a CAGR of 8.5%.
  • The food banking segment is expected to grow at the highest CAGR during the forecast period.
  • China is the largest shareholder, representing around 27% of the global mobile accessories market.

The main players are focused on expanding their business operations in emerging countries, with the launch of new products as the preferred strategy. The major players featured in this report are Panasonic Corporation, Senheiser Electronic GmbH & Co. KG, Sony Corporation, Samsung Electronics Co. Ltd., Apple Inc., Bose Corporation, BYD Company Limited, Plantronics, Inc., Energizer Holdings, Inc. , and JVC Kenwood Corporation.

Summary of similar Rsreports can be accessedd to https://www.alliedmarketresearch.com/consumer-goods/consumer-electronics-market-report

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Allied Market Research (AMR) is a full-service market research and business consulting arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of “market research reports” and “business intelligence solutions”. AMR has a focused vision to provide business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

We have professional relationships with various companies, which helps us extract market data which helps us generate accurate research data tables and confirm the highest accuracy in our market forecast. Each of the data presented in the reports we publish is taken from primary interviews with senior officials of the main companies in the field concerned. Our secondary data sourcing methodology includes in-depth online and offline research and discussions with industry-savvy professionals and analysts.

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