The "Asia-Pacific & Middle East Mobile Phone Accessories Market by Distribution Channel: Country Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific & Middle East mobile phone accessories market was valued at 117.8 billion in 2019, and is projected to reach $154.8 billion by 2027, registering a CAGR of 3.6% from 2020 to 2027.
Rapid technological development of mobile phones in the twenty-first century has led to its adoption as a utility used for day-to-day tasks such as alarm, task reminders, remote controlling appliances, and others. The entertainment and media exploring functionalities such as large touch screens, speakers, easy control volume buttons, voice control intelligence, and other applications. As a result, smartphones have found replacement of laptops, cameras, wrist watches, and other electronics up to a considerable level.
Rise in demand for wireless accessories drives the growth of the mobile phone accessories market. This increase in demand is due to change in customer preferences to listen to music on portable devices, such as smartphones and tablets. Music is easily accessible through music streaming platforms, which include YouTube and SoundCloud.
The demand for mobile phone accessories has increased due to an upsurge in disposable income and rise in the popularity of social networking sites in urban areas. In addition, an increase in internet penetration also boosts the online retailing platform.
Factors such as rise in demand for smart wireless accessories, emerging advancements in gaming accessories, and technological advancements in OTGs and wireless attachments drive the market growth in the region. However, an increase in penetration of counterfeit products and trade war between nations hamper the market to a certain extent. Furthermore, strong distribution network and technological advancements in imaging and photographic accessories are expected to offer lucrative opportunities to the market growth.
Key Benefits for Stakeholders
This study includes the analytical depiction of the Asia-Pacific & Middle East mobile phone accessories market forecast along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information regarding the key drivers, restraints, and opportunities in the Asia-Pacific & Middle East mobile phone accessories market.
The Asia-Pacific & Middle East mobile phone accessories market trend is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry.
Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Asia-Pacific & Middle East Mobile Phone Accessories Market Key Segments
By Distribution Channel
Taiwan/Hong Kong/ Macao
Rest of Asia-Pacific
Key Market Players
Sennheiser Electronic GmbH & Co. KG
Samsung Electronics Co. Ltd.
BYD Co. Ltd.
Energizer Holdings Inc.
JVC Kenwood Corporation
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View source version on businesswire.com: https://www.businesswire.com/news/home/20201015005726/en/
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