SEATTLE, Aug. 23, 2018 (GLOBE NEWSWIRE) -- The global mobile phone accessories market was valued at US$72.90 billion in 2017, and is projected to exhibit CAGR of 5.80% over the forecast period (2018 – 2026).
Key trends and analysis of the global mobile phone accessories market:
The increasing adoption of advanced network technologies such as 3G and 4G offers high-speed internet browsing and data transfer. The high-speed network technologies increase usage of mobile applications such as video calls, video streaming, and many other real-time functioning features. Moreover, the increasing adoption of Internet of Things (IoT) devices is expected to propel growth of the mobile phone accessories market. For instance, according to the Coherent Market Insights analysis, the number of IoT devices in 2016 was 17.62 billion and the number increased to 20.42 billion in 2017.
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Key Market Takeaways:
- The global mobile phone accessories market is projected to witness CAGR of5.80% during the forecast period, owing to the increasing sales of smartphones worldwide
- Asia Pacific accounted for the largest market share in 2017 and is expected to retain a dominant position during the forecast period. This is owing to increasing use of smartphones for social networking especially in India and China. For instance, according to the Coherent Market Insights analysis, the number of smartphone users in India in 2016 was 168 million and it increased to 197 million in 2017.
- The Online distribution channel held dominant position in 2017 and is expected to retain its dominance during forecast period, owing to increasing use of online shopping for purchase of mobile accessories and other products. For instance, according to the Coherent Market Insights analysis, 42 percent of internet users in the U.S. purchased items through online per month and 21 percent of consumers purchases the items through online in a weekly basis.
- Major players operating in global mobile phone accessories market include, Samsung Electronics Co., Ltd., Sony Corporation, Panasonic Corporation, Apple, Inc., JVC Kenwood Corporation, Plantronics, Inc., Bose Corporation, Griffin Technology, Otter Products, LLC, Sennheiser Electronics GmbH & Co. KG, Belkin International, Inc.and others
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