Phone accessories

Asia-Pacific and Middle East mobile phone accessories market to reach $154.8 billion, by 2027 at a CAGR of 3.6%: Allied Market Research

PORTLAND, Oregon., September 24, 2020 /PRNewswire/ — Allied Market Research has released a report titled, Asia Pacific & Middle East Mobile Phone Accessories Market By Distribution Channel (Online and Offline): Opportunity Analysis by Country 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 should reach $154.8 billion by 2027, witnessing a 3.6% CAGR from 2020 to 2027.

Drivers, brakes and opportunities

Rising demand for smart wireless accessories, consumer preferences for wearable devices and aggressive marketing through social networking sites are propelling the growth of the Asia Pacific & Middle East mobile phone accessories market. On the other hand, increasing penetration of counterfeit products and trade war among countries in the region are limiting the growth of the market. Nevertheless, the launch of innovative and fashionable accessories such as batteries, chargers, protective cases, screen protectors, earphones and power banks are expected to provide lucrative opportunities in the market.

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Covid-19 scenario:

  • Mobile phone accessories manufacturing services have been halted due to lockdown and shortage of raw materials.
  • Investments, research & development and e-commerce platforms have been suspended.
  • However, as lockdown restrictions eased, manufacturing processes and e-commerce platforms began operations.

The offline segment will dominate the market throughout 2027

Based on the distribution channel, the offline segment held the highest market share in 2019, contributing almost three quarters of the total share, and is expected to maintain its leading status over the forecast period. Growing trends towards retail chains are driving the growth of the segment. However, the online segment is estimated to account for the largest CAGR of 5.6% from 2020 to 2027. This is attributed to the growing trends towards e-commerce portals.

Australia/New Zealand holds the lion’s share

Based on the country, Australia/New Zealand accounted for the largest share of the market, contributing more than a tenth of the total share in 2019, and will continue to dominate in terms of revenue during the forecast period. However, the Middle East the region should represent the Fastest CAGR by 7.6% from 2020 to 2027. This is due to the growth in adoption from outsiders such as Apple, Panasonic and Sony.

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The main market players

  • Panasonic Company
  • Sony Company
  • Sennheiser Electronic GmbH & Co. KG
  • Apple Inc.
  • Samsung Electronics Co.Ltd.
  • BYD Co.Ltd.
  • Bose Company
  • Energizer Holdings Inc.
  • Plantronics Inc.
  • JVC Kenwood Corporation

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

We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.

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