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Asia Pacific Mobile Protective Cases Market Segmented By Premium, Mid, Low Price Range in Multi-brand Store, Single Brand Store, Online
Due to an ever increasing mobile device user base and a substantial growth in the adoption of smartphones and tablets in the Asia Pacific region, the mobile protective case market offers a huge opportunity to the manufacturers of such devices. In addition, there is a steady decline in the prices of smartphones across the globe, further fueling the Asia Pacific mobile protective case market. Moreover, an increase in the disposable income has transformed the buying and spending patterns of consumers especially in urban areas.
The increasing adoption of mobile devices amongst the youth across the globe provides a fillip to the growth of the mobile protective case market. Besides this, the increasing penetration of the internet is surging the online retailing trend in the mobile accessories market and this is further cemented due to the convenience offered by the cash on delivery payment option and various other discounts offered by e-retailers for numerous products. All these factors combined are expected to catalyze the growth of the mobile protective case market.
The Asia Pacific mobile protective case market is estimated to be valued at nearly US$ 10,500 Mn in 2017 and is expected to register a CAGR of 5.9% to reach nearly US$ 18,000 Mn by 2026 end. In terms of volume, the Asia Pacific mobile protective case market is expected to register a CAGR of 4.8% during the forecast period. In terms of value, the Asia Pacific mobile protective case market is estimated to create incremental opportunity of nearly US$ 9,000 Mn and expand 1.8X between 2016 and 2026.
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Increasing disposable income and growing global population
A strong preference of people towards mobile accessories, more so in the developing countries of Asia Pacific and Latin America, fueled by increasing disposable income has encouraged the growth of the mobile accessories market over the last few years. Moreover, increasing population, mainly in developing regions such as the Asia Pacific and Middle East and Africa, is anticipated to further boost the growth of the mobile accessories market during the forecast period.
As per the estimates of the United Nations, the global population is expected to increase from 7.2 billion in 2013 to around 9.6 billion by 2050. This, along with growing GDP of developing countries is expected to drive the growth of the mobile accessories market all over the world, thereby boosting the mobile protective case market in the Asia Pacific region.
Proliferation of smartphones
The rate of smartphone adoption is growing across countries such as China, Indonesia and Brazil and this is related to increasing internet penetration and popularity of social networking in these countries. Furthermore, as smartphones become more integrated to the lifestyle of people in the form of mobile shopping, e-banking, and bring your own device (BYOD), the demand for smartphones is accelerating across the globe, which in turn is fueling the growth of the mobile protective case market.
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Piracy is a worldwide menace, and impacts the market for mobile phone protective cases. In pirated products, the kind of materials utilized, sound properties, as well as the durability of the pirated products are inferior to those offered by major mobile accessories manufacturers. However, due to the low price of the pirated products – which are offered at a fraction of the price of the original products – consumers, especially in developing countries such as China and India are attracted towards buying such pirated products. Thus, counterfeit products hamper market growth to a significant extent.
Lack of standardization
Presently, there is a lack of standardization in technology and components used in the manufacturing of mobile phone accessories. The lack of definite standards in the market lead to high product and price differentiation, and this may hinder the growth of the mobile protective case market to a certain extent.
Mobile protective case market in China is expected to generate comparatively high potential revenue opportunities in the near future owing to the presence of a large customer base
The China market was estimated to account for more than 50% share of the Asia Pacific mobile protective case market by 2016 end. It is expected to be a highly attractive market in terms of CAGR and revenue share during the forecast period.
The market in China is anticipated to create a substantial incremental opportunity during the forecast period and is estimated to account for almost 54% market share by the end of 2026, exhibiting an attractiveness index of 3.1. In terms of revenue, the Indonesia market is projected to expand 1.5X and account for close to 3% share by 2026 end. The Indonesia market is likely to exhibit a low market attractiveness index as compared to other country markets.
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In 2014, Apple Inc. acquired Beats Music and Beats Electronics – a subscription streaming music service provider – for a combined value of US$ 3 Bn. The objective of this acquisition was to expand Apple’s product portfolio related to mobile accessories and subscription-based music services. In 2014, Brightstar Corp. completed acquisition of the commerce and service division of SoftBank BB Corp. – a Tokyo-based distributor of mobile accessories – in order to expand its footprint in the region.”
– Analyst – Consumer Goods, Persistence Market Research
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