Asia-Pacific And Middle East Mobile Phone Accessories Market Predicted To Accelerate Growth By 2020 2027

(MENAFN- EIN Presswire) Asia-Pacific & Middle East Mobile Phone Accessories market Projected to Hit $154.8 Billion By 2027

WILMINGTON, DELAWARE, UNITED STATES, May 21, 2024 /EINPresswire / -- The Asia-Pacific & Middle East mobile phone accessories market size is expected to witness considerable growth due to the emergence of the Internet of Things (IoT) and artificial intelligence (AI) in the upcoming technologies. The Asia-Pacific & Middle East mobile phone accessories industry is projected to witness significant growth, especially in emerging countries such as Indonesia, Vietnam, Oman, Jordan, UAE, and India among others, owing to the increasing adoption of smart technologies in the countries.

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Allied Market Research, titled,“Asia-Pacific & Middle East Mobile Phone Accessories Market By Distribution Channel: Opportunity Analysis and Industry Forecast, 2020-2027”, the Asia-Pacific & Middle East mobile phone accessories market was valued at $117.8 billion in 2019, and is projected to reach $154.8 billion by 2027, registering a CAGR of 3.6% from 2020 to 2027.

The Asia-Pacific & Middle East mobile phone accessories market is currently in its growth stage and is expected to register substantial growth shortly, owing to the high investment in R&D activities by market players and the increase in focus on the Internet of Things (IoT). Other factors that drive the market growth include an increase in demand for wireless technologies and smart wearable devices.

Emerging technologies, such as artificial intelligence (AI) and quantum computing, used in mobile phone accessories promote enhanced performance and assist in full commercialization. China has a rich heritage of microprocessor design, with companies involved in the manufacturing of electronic products, and new start-up companies designing mobile phone accessories, which creates lucrative opportunities for the Asia-Pacific & Middle East mobile phone accessories market growth.

According to for Asia-Pacific & Middle East mobile phone accessories market forecast, China, India, Japan, and South Korea are some of the major countries, in terms of revenue generation, in the Asia-Pacific & Middle East mobile phone accessories market. In addition, rapid growth in the sales of consumer electronic products supplements the market growth.

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At present, technologies such as 4G/LTE are used as the preferred means of connecting mobile devices to the Internet. The high data rate enabled by the 4G technology helps devices such as smart speakers, fit bands, and smartwatches to function seamlessly and thus gain popularity among consumers. Moreover, fitness enthusiasts are increasingly shifting their interest toward smartwatches and fitness bands as these devices can track numerous biological details and guide the user to live a healthy life.

A significant increase in the usage of power banks has been witnessed in the Asia-Pacific region. This encouraged Xiaomi to introduce power banks along with its range of smartphones. In addition, China also manufactures low-priced high-end power banks. The major growth contributor for power banks in Asia-Pacific is the enormous sales of smartphones in China and India. The manufacturers of power banks focus on these regions in Asia-Pacific and accordingly innovate their product offerings that match the requirements of the customer.

Also, the presence of top industry players from Japan and China and their focus on developing low-cost wireless products. For instance, Sony launched its wireless earphones, C-400 and WI-C300 at affordable prices with advanced audio technology. Thus, the innovation of mobile phone accessories and their launch at efficient prices is expected to drive the Asia-Pacific & Middle East mobile phone accessories market share.

Competitive Analysis:

The Asia-Pacific & Middle East Mobile Phone Accessories industry's key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

Some of the major key players in the global Asia-Pacific & Middle East Mobile Phone Accessories Market include,

SONY CORPORATION
ENERGIZER HOLDINGS, INC.
APPLE INC.
SAMSUNG ELECTRONICS CO. LTD.
BOSE CORPORATION
SENNHEISER ELECTRONIC GMBH & CO. KG
BYD COMPANY LTD.
JVCKENWOOD CORPORATION
PLANTRONICS, INC.
PANASONIC CORPORATION

There has been an increase in the rate of adoption of smartphones in recent years. India with its large population and growing digitalization offers a vast market for advanced mobile phone accessories. Manufacturers such as Xiaomi, Oppo, and Samsung provide mobile phone accessories for low- and mid-price ranges.

Penetration of wireless technology, Li-Fi in the region provides an exchange of data through light and has raised the usage of smartphones among consumers. Further, the advancement of infrastructure and development of smart cities in the region that deploy Li-Fi through street lights is expected to raise the demand for smartphones and in turn, increase the market for mobile phone accessories. In addition, cloud application in UAE and the Middle East is one of the prominent regions in terms of growth in smart cities, IoT solutions, smart homes, and public Wi-Fi hubs

According to Asia-Pacific & Middle East mobile phone accessories market trends, China accounts for 50% of worldwide semiconductor devices consumption. The outbreak of COVID-19 is having a major impact on both customers and companies. Electronics manufacturing hubs have been temporarily shut down to limit the virus spread. This is affecting the global supply chain, which is further expected to impact the suppliers and manufacturers, globally. COVID-19 is highlighting the potential risk and vulnerability of the electronics industry and semiconductor value chain model.

The demand from the wireless communication segment is expected to increase due to factors such as increased broadband usage, higher demand for cloud services, and video streaming. In addition, in the medium to long term, COVID-19 is expected to further push up the need for digital transformation, technologies such as 5G, the IoT, AI, and intelligent edge computing for future optimization, which will create lucrative opportunities for mobile phone accessories in the region.

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Key Findings of the Study

- By distribution channel, the offline segment generated the highest revenue in the Asia-Pacific and Middle East mobile phone accessories market share in 2019.
- By country, the rest of Asia-Pacific generated the highest revenue in the Asia-Pacific and Middle East mobile phone accessories market share in 2019.

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Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports consider significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on analyzing high-tech and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

David Correa
Allied Market Research
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