Global Consumer Electronic Accessories Market Outlook to 2026 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Aug 31, 2018--The “Global Consumer Electronic Accessories Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2018 To 2026” report has been added to ResearchAndMarkets.com’s offering.
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.
The growth of consumer electronics in recent years has been phenomenal and this trend is likely to continue in the years to come. 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.
In recent years, owing to rising disposable income and improving standard of living, in countries such as China, India, Brazil, etc. people are in a better position to invest in cars. This is evident from the fact that the motor vehicle production across all the aforementioned countries has witnessed a growth in 2017 over 2016. This factor expected to have a positive impact on the demand for car electronic accessories, thereby complimenting the overall consumer electronic accessories market growth.
However, declining sales of DSLR cameras across the world expected to offset market growth in the coming years. Camera accessories such as tripods & monopods, batteries & chargers and cables & connectors are some of the camera & photo accessories expected to witness a hit in demand in coming years.
Product innovation is one of the common strategies adopted by consumer electronics accessory manufacturers. This strategy helps in addressing the increasing competition in the market. For instance, recently Sony introduced the world’s first wireless splash-proof headphones with noise cancellation. The headphone also comes with an open charging case that extends the battery backup up to 9 hours. Similarly, Sachtler and Vinten introduced a new camera tripod technology that enables camera operators to set up and begin using the tripod in an instant.
Companies ProfiledSamsung 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 Beats Electronics
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Related Topics:Consumer Electronics
INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS
SOURCE: Research and Markets
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PUB: 08/31/2018 06:38 AM/DISC: 08/31/2018 06:38 AM