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Consumer Electronic Accessories Market Size, Share and Forecast to 2018

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Written by amanj111
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According to a new market research report published by Credence Research “Consumer Electronic Accessories Market (Product Type – Camera & Photo Accessories, Audio & Video Accessories, Mobile Phone Accessories, Personal Computer Accessories, Car Electronics Accessories and Office Electronic Accessories; Sales Channel – Online and Offline) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the global consumer electronic accessories market is estimated to reach US$ 59.5 Bn in 2026 growing at a CAGR of 7.1% during the forecast period from 2018 to 2026.

Browse the full report at  https://www.credenceresearch.com/report/consumer-electronic-accessories-market

Market Insights

The growth of consumer electronics in recent years has been phenomenal and this trend is likely to continue in the years to come. A consumer electronic accessory can be defined as any accessory that is used along with the consumer electronic and has a useful or decorative purpose. The demand for consumer electronic accessories is directly dependent upon consumer electronics as a result of which the market trend is majorly dependent on the parent market.

One of the most prominent factors aiding the consumer electronic accessories market growth is the fact that the demand for consumer electronics has been increasing worldwide. For instance, in recent years, the demand for smartphones has been on the rise especially in countries such as India, China, and the U.S. among others. Sales of smartphones in the U.S. grew by 2% in 2017 over 2016 and reached 201.3 Mn units. Similarly, India witnessed a growth of 14% in 2017 and a total shipment of 124 Mn units were reported in 2017. This growth in the demand for smartphones expected to positively influence the consumer electronic accessories market.

Key players profiled in the report include Samsung Electronics Co., Ltd, Sony Corporation, Zebronics India Pvt. Ltd., Logitech International S.A., Portronics Digital Pvt. Ltd., Belkin International, Inc., Philips International B.V., Targus International LLC, Plantronics, Inc., Seiko Epson Corporation and Beats Electronics among others.

Surge in Demand for Consumer Electronics directly influencing the Consumer Electronic Accessories Market Growth

Consumer electronic accessories market expected to grow at a CAGR of 7.1% from 2018 to 2026 and reach US$ 59.5 Bn in 2026. There has been a significant surge in the demand for consumer electronics in recent years and the dynamics pertaining to it has changed drastically. Developing countries in regions such as Asia Pacific, Middle East & Africa and Latin America has contributed immensely towards this growth. The increasing demand for consumer electronics in these countries has positively influenced the consumer electronic accessories demand. The demand for consumer electronic accessories such as headphones, earphones, camera bags, tripod stands, selfie sticks, cables, remotes, chargers, etc. is increasing as a result of growing adoption of the parent products. One of the most prominent factor driving the overall consumer electronic accessories market is the continually growing sales of smartphones across the world. In 2016, the global smartphone shipment reached over 1.55 Bn with majority of the sales coming from India and China. Moreover, over the next few years, the smartphones market expected to attain a remarkable growth due to rise in online shopping. Significant reduction in selling prices of smartphones, increasing access of social networking, rising trend of online video streaming, is likely to propel the demand for smartphones that will positively influence the growth of the consumer electronic accessories market during the forecast period. By 2021, 40 percent of the world’s population projected to own a smartphone, a factor further supporting the consumer electronic accessories market growth. Increasing motor vehicle production is another prominent factor contributing to the growth of the market. This implies that the demand for related car electronic accessories is on the high. Moreover, growth in the number of office buildings in coming years also expected to contribute to the overall growth of the market and create positive demand for accessories such as cables & connectors and laser pointers among others. However, declining sales of digital cameras worldwide is one of the restraining factors influencing the consumer electronic accessories market growth negatively.

Market Synopsis

Consumer Electronic Accessories Market

Increasing Demand for Smartphones complimenting the Mobile Phone Accessories Segment Growth

The mobile phone accessories segment expected to register the fastest growth during the forecast period. The growth can be attributed to the increasing demand for smart phones across the world. Countries such as China, India, Brazil, etc. have witnessed a significant increase in the demand for smartphones owing to various factors such as increasing disposable income, price of smartphones getting cheaper and growing inclination of people towards technology among others. According to a recent finding, the smartphone market in India grew at a healthy 14% annual growth in 2017 with a total shipment of 124 Mn units, thereby making the country the fastest growing smartphone market globally. Moreover, the fact that the smartphone market witnessed a continuous year-on-year growth since 2009 has further complimented the demand for mobile phone accessories.

Car electronics is another segment expected to witness a high CAGR growth during the forecast period. The demand for car electronic accessories such as amplifier cooling fans, chargers, cables, transmitters, car cigarette lighter accessories, etc., are expected to remain high in the coming years. One of the most prominent factors aiding the car electronic accessories demand growth is the fact that, globally the demand for motor vehicles has increased significantly in recent years.

Consumer Electronic Accessories Market

Car electronics is another segment expected to witness a high CAGR growth during the forecast period. The demand for car electronic accessories such as amplifier cooling fans, chargers, cables, transmitters, car cigarette lighter accessories, etc., are expected to remain high in the coming years. One of the most prominent factors aiding the car electronic accessories demand growth is the fact that, globally the demand for motor vehicles has increased significantly in recent years.

Economic Growth Supporting the Consumer Electronic Accessories Market Growth in Asia Pacific

The global consumer electronic accessories market was dominated by Asia Pacific accounting for around 30% of the overall market value in 2017. The Asia Pacific market is followed by North America and Europe. China and the U.S. together stood as the two largest countries in terms of value. Factors such as high penetration of smart phones coupled with high sale of motor vehicles in the country has contributed towards the growth of the market. In the Asia-Pacific region, China will maintain its dominance during the forecast period. India is expected to register one of the fastest growth mainly owing to increasing demand for smartphones in the country. Indian smartphone market is expected to continue witnessing healthy growth in 2018, owing to increasing demand for budget phones. Moreover, another prominent factor aiding the consumer electronic accessories market growth can be attributed to the increasing number of office infrastructures in the region. Economic growth in the region is fueling the market for office space. In addition, as per a recent finding it has been found out that 45% of the companies in Asia Pacific are expected to expand their offices in the next two years.  This factor is expected to positively influence the demand for related office electronic accessories such as scanner/shredder/printer/copier cables and connectors, laser pointers, landline phone batteries & cords, etc.

Consumer Electronic Accessories Market

Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Market Segmentation
1.4 Research Methodology
1.4.1 Phase I – Secondary Research
1.4.2 Phase II – Primary Research
1.4.3 Phase III – Expert Panel Review
1.4.4 Assumptions
1.4.5 Approach Adopted

Chapter 2 Executive Summary
2.1 Market Snapshot: Global Consumer Electronics Accessories Market
2.2 Global Consumer Electronics Accessories Market, By Product Type, 2017
2.3 Global Consumer Electronics Accessories Market, By Sales Channel, 2017
2.4 Global Consumer Electronics Accessories Market, By Geography, 2017

Chapter 3 Market Dynamics
3.1 Market Overview
3.1.1 Global Consumer Electronics Accessories Market Value, 2016 – 2026, (US$ Bn)
3.2 Market Drivers
3.3 Market Restraints
3.3.1 Impact Analysis of Drivers and Restraints
3.4 Key Market Trends and Future Outlook
3.5 Attractive Investment Proposition, By Geography
3.6 Competitive Analysis

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