Portland, Nov. 04, 2019 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global was estimated at $224.69 billion in 2018, and is expected to hit $284.05 billion by 2026, registering a CAGR of 3.1% from 2019 to 2026. The report provides a detailed analysis of the market size & estimations, top investment pockets, top winning strategies, drivers & opportunities, competitive scenario, and changing market trends.
Rise in usage of smart mobile phones, increase in usage of smart wireless accessories, and technological advancements of OTGs and wireless attachment coupled with advancement in gaming accessories have boosted the growth of the global mobile phone accessories market. However, surge in penetration of counterfeit products and trade war between the developed nations hampers the market. On the contrary, technological advancements in imaging and photographic accessories are expected to create lucrative opportunities in the near future.
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The market is divided on the basis of product type, distribution channel, price range, and geography. Based on product type, the market is segmented into battery, headphone/earphone, portable speaker, charger, memory card, protective case, power bank, battery case, and others. The headphones segment dominated the market in 2018, contributing around one-fourth of the market. However, the portable speaker segment is projected to register the fastest CAGR of 9.2% during the forecast period.
Based on price range, the market is divided into premium, mid, and low. The premium range segment is projected to offer lucrative opportunities. The segment dominated the market in 2018, accounting for nearly three-fifths of the market and is expected to register the fastest CAGR of 3.8% during the forecast period.
The global mobile phone accessories market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across the Asia-Pacific region held the largest share in 2018, accounting for nearly half of the market and the region is anticipated to register the fastest CAGR of 4.4% during the forecast period.
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The report provides an of the major market players such as Sennheiser Electronic GmbH & Co. KG, Apple Inc., Sony Corporation, JVC Kenwood Corporation, Panasonic Corporation, Samsung Electronics Co., Ltd., Bose Corporation, BYD Co Ltd., and Plantronics, Inc. They have incorporated a number of strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
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