Consumer Electronic Accessories Market

Introduction

The global scenario for consumer electronics and the related products is changing at a speeding pace and is expected to further gain traction in the coming years. The technology market is susceptible to changes, it may be positive or negative. The growth in the use of consumer electronics and the changing scenario pertaining to the adoption its supplementing products has thus triggered substantial sales of consumer electronic accessories across the globe. The demand for products such as earphones, headphones, selfie sticks, camera bags, tripod stands, cables, chargers, remotes, and many others is incessantly rising owing to the growing adoption of the parent products. Moreover, the demand for these products is more in developing regions such as Asia Pacific. This high demand can be attributed to the growing population in the region and the tilt of the consumers towards technology and luxurious products.

Though developed regions such as North America and Europe along with developed countries such as Japan are the core of most of the innovations, somewhere down the line the line, the market has reached its saturation point in these regions and market players are looking to capitalize more lucrative prospects arising from developing nations as urbanization takes a surge there.

Car electronic accessories to generate maximum revenue in the global market

With the growth in the automotive industry, the manufacturing of automotive has increased substantially. This rise in the rate of manufacturing activities can be attributed to the increasing disposable income of people across the globe and the willingness to spend on luxury items. The growing demand has triggered an exponential rise in the manufacturing activities in the automotive industry, thus accelerating the use of car electronic accessories as well at the same time.

Car electronic accessories accounted for a share of 41.6% in year 2017 and is expected to retain its lead in the market till the end of the forecast period. The demand for high-end electronic is expected to rise in the coming years owing to the fact that not only luxury cars, but manufacturers of small-scale passenger cars are also looking forward to integrate their cars with high-end accessories in order to meet the needs of their potential consumers with budget.

Cellphone accessories to be in great demand in the coming years

The penetration of smartphones has increased significantly across the globe and this trend is expected to gain traction in the coming years as tech giants develop more sophisticated smartphones. Cellphone has become more of a luxury item now than an item of need. Thus demand for its accessories has also increased extensively and is likely to rise in the years ahead. The increasing usage of smartphones in the market is creating demand for selfie accessories.

In the present era, almost everyone uses a smartphone and with the advancement in technology, most of the consumers who are mainly fond of music use earphones and headphones and other devices which are wired or wireless. Due to the advancement in audio devices, the demand for mobile phone and audio accessories is also incrementing. This advancement in audio technology is expected to create opportunities for the manufacturers of cellphone accessories in the years ahead.

Consumer Electronics Accessories Market: Segmentation