Mobile Phone Accessories Market in Asia-Pacific & Middle East to Reach $154.8
Billion, By 2027 at 3.6% CAGR: Allied Market Research
PR Newswire
PORTLAND, Ore., Sept. 24, 2020
- Rise in demand for smart wireless accessories, consumer preferences for
portable devices, and aggressive marketing through social networking sites
propel the growth of the Asia-Pacific & Middle East mobile phone accessories
market
PORTLAND, Ore., Sept. 24, 2020 /PRNewswire/ -- Allied Market Research
published a report, titled, " Asia-Pacific & Middle East Mobile Phone
Accessories Market " By Distribution Channel (Online and Offline): Country
Opportunity Analysis and Industry Forecast, 2020-2027". According to the
report published by Allied Market Research, the Asia-Pacific & Middle East
mobile phone accessories market generated $117.8 billion in 2019, and is
expected to reach $154.8 billion by 2027, witnessing a CAGR of 3.6% from 2020
to 2027.
Drivers, Restrains, and Opportunities
Rise in demand for smart wireless accessories, consumer preferences for
portable devices, and aggressive marketing through social networking sites
propel the growth of the Asia-Pacific & Middle East mobile phone accessories
market. On the other hand, rise in penetration of counterfeit products and
trade war between countries in the region limit the market growth.
Nevertheless, the launch of innovative and trendy accessories such as
batteries, chargers, protective cases, screen guards, headphones, and power
banks is expected to provide lucrative opportunities in the market.
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Covid-19 Scenario:
* Manufacturing services of mobile phone accessories have been interrupted
due to lockdown and shortage of raw materials.
* The investments, research & development, and e-commerce platforms were put
on a hold.
* However, as lockdown restrictions alleviated, manufacturing processes and
e-commerce platforms have initiated their operations.
The Offline Segment to Dominate the Market Throughout 2027
Based on distribution channel, the offline segment held the highest market
share in 2019, contributing to nearly three-fourths of the total share, and is
estimated to maintain its leadership status during the forecast period.
Growing trends towards retail chains drives the growth of the segment.
However, the online segment is estimated to portray the largest CAGR of 5.6%
from 2020 to 2027. This is attributed to the growing trends towards e-commerce
portals.
Australia/New Zealand Held Lion's Share
Based on country, Australia/New Zealand accounted for the largest share of the
market, contributing to more than one-tenth of the total share in 2019, and
will continue to dominate in terms of revenue during the forecast period.
However, the Middle East region is projected to portray the fastest CAGR of
7.6% from 2020 to 2027. This is owing to the growth in adoption of foreign
such as Apple, Panasonic and Sony.
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The Key Market Players
* Panasonic Corporation
* Sony Corporation
* Sennheiser Electronic GmbH & Co. KG
* Apple Inc.
* Samsung Electronics Co. Ltd.
* BYD Co. Ltd.
* Bose Corporation
* Energizer Holdings Inc.
* Plantronics Inc.
* JVC Kenwood Corporation
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