Latest Trend Report 2018: Smartphone Accessories Market to reach value of USD 104.31 billion by 2024


    “Smartphone Accessories Market Outlook 2024: Global Opportunity And Demand Analysis, Market Forecast, 2018-2024” presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type of product and deal landscapes.

    Top Leading Companies: Samsung Electronics Co. Ltd., Sennheiser Electronics GmbH & Co., Sony Corporation, Bose Corporation, Energizer Holdings Inc., Panasonic Corporation, BYD Company Limited, JVC Kenwood Corporation, Incipio, LLC, Plantronics Inc., Philips N.V., Motorola, Inc., Belkin International, Inc., Logitech International SA, Targus Group International Inc.,Zagg Inc, Otter Products LLC, Incase Design Corp., Kensington, Griffin Technology, Case Logic

    This report provides a detailed analysis of the Smartphone Accessories market with description of market sizing and growth, segmentation of market by products & services and major markets, top market players etc. The report recapitulates the factors that will be responsible for the growth in the market in the forecasted period.

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    This independent 260 pages report guarantees you will remain better informed than your competition. With tables and figures examining the Smartphone Accessories market, the report gives you a visual, one-stop breakdown of the leading products, submarkets and market leader’s market revenue forecasts as well as analysis to 2024.

    Market Overview:

    Nowadays people style their smartphones with various accessories to protect their smartphones. Smartphone accessories are also used for improving longevity and ornamental features of smartphones. Headphones, selfie-stick, portable speakers, power banks and many more provide an advantage to use smartphone in an easier way. Wide adoption of smartphones is boosting smartphone accessories market growth majorly in urban areas. Moreover, innovative product to make a style statement is penetrating the global smartphone accessories market. Top smartphone models such as Apples iPhone, Samsung Galaxy sets, Sony Xperia are driving the demand for attractive accessories.

    However, large availability of local players is restricting the profit margins for leading vendors. Regional players are trying to merge with established players to seek a promising growth. For instance, in 2014, SoftBank BB Corp. a Tokyo based mobile accessories company, acquired by Brightstar Corp. aiming for expanding smartphone accessories business in specific region. In 2015, Cat phones have introduced new and affordable range of mobile accessories. Moreover, Karbonn India based mobile phone Company also announced to launch mobile accessories in March 2016.

    Market Size and Forecast:

    The global smartphone accessories market is expected to reach value of USD 104.31 billion by 2024. The smartphone accessories market is projected to witness a healthy CAGR of 6.5% over the forecast period.

    Premium ranged accessories are contributing in generating large revenue however the market is primarily acquired by mid-range and low range products by volume. Low range smartphone accessories are anticipated to grow at CAGR of 7.1% over the forecast period. Distribution channel is also attracting the consumers and contributing in increasing the sales of smartphone accessories. Online products have contributed to generate major part of revenue and expected to grow at CAGR 8.5% during the forecast period.

    Based on geography, Asia-Pacific accounted for the largest share of smartphone accessories market. Countries such as South Korea, Australia, China, India and Indonesia are fueling the market growth of smartphone accessories owing to the high adoption of smartphones. Asia-Pacific region holds approximately 46% share of global smartphone accessories market in 2015.

    North America and Europe together accounted for over 40% share of global smartphone accessories market in 2016. North America smartphone accessories market valued USD 14.5 billion in 2016 owing to the rising sales of protective cases, power banks and portable speakers for smartphones in the U.S. and Canada. Moreover, Latin America and Middle East & Africa region are expected to become a fastest growing market for smartphone accessories over the forecast period. Latin America and Middle East & Africa smartphone accessories market together valued USD 5.04 billion in 2016. Rising sales of smartphones and increasing adoption of online distribution channel for products in countries such as Brazil, Saudi Arabia, the United Arab Emirates and Mexico is contributing in the expansion of smartphone accessories business in the region.

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    Market Drivers and Challenges:

    Growing adoption of smartphones is the key factor for boosting growth of smartphone accessories market. Devices such as portable speakers, selfie-sticks and power banks are emerging as a new trend into the market. Rising personal disposable income and rising digitization are attracting the consumers across the globe to opt for advanced accessories for their smartphones. Moreover, availability of smartphone accessories through online distribution channel gaining huge customer interest and also increasing popularity of advanced products among consumers.

    However, Bluetooth wireless speakers and headphones are affecting the hearing ability of consumers which is impacting the market growth. As per World Health Organization (WHO) over 22 million of young population is suffering from hearing disability due to harmful sound level produced by wireless speakers and headphones. Moreover, high cost of quality power banks is confining the market for premium customers. Availability of low quality products is also limiting the growth of smartphone accessories market across the globe.

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    Smartphone Accessories Market Report Covered Insights Of Below Mentioned Regions:

    – North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}
    -Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
    -Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
    -Asia-Pacific (China, India, Singapore, Japan, Hong-Kong, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market —Size, Growth Analysis and Opportunity Analysis}
    -Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
    -Rest of World {Market Size, Growth Analysis and Opportunity Analysis}

    The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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