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Technavio Announces Top Four Emerging Trends Impacting the Global Mobile Device Accessories Market Through 2020Technavio's latest report on the global mobile device accessories market provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline. Ujjwal Doshi, a lead analyst from Technavio, specializing in research on consumer electronics sector, says, "The market is driven by the increasing adoption of smartphones and tablets. The growth of per-capita disposable income has transformed the buying behavior of consumers. Smartphones have become a necessity for the urban population and their wider adoption among the younger generation will foster growth of the accessories market." The top four emerging trends driving the global mobile device accessories market according to Technavio research analysts are:
Growing consumer awareness Consumers have always been victims of counterfeit mobile accessories in the past, and the issue is predominant in APAC which is considered to be the hub for counterfeit products. However, global consumers are becoming more sensible and have greatly matured over the last decade. These consumers do their checks by visiting review sites, blogs, ask in their social circle or peer group and evaluate the brand based on price, quality and performance. This is expected to reduce the effect of counterfeit products to the market's revenue. With the advent of social media increasing number of consumers are becoming more aware of specifications, look and style. The future of the accessory market from the vendor's point of view will depend on the amount allocated to R&D sector and on how they intend to satisfy thei customers with respect to QoS and QoE. This can be done by introducing value-added and trendy accessories. Wireless accessories The demand for wireless mobile accessories has been growing rapidly. Bluetooth headsets have surpassed 45-million-unit mark by 2015 indicating the market's inclination towards wireless audio accessories. One of the major factors is people listening to music on portable devices such as smartphones and tablets. Music streaming is a trend emerging in the market which will only increase the demand for wireless audio accessories. A high percentage of the millennial population is listening to music streamed through YouTube (News - Alert). With growing adoption of wireless chargers and wireless mobile speakers, the demand for wireless accessories will grow manifold during the forecast period. Increasing applications of smartphones The applications of smartphones are increasing every day and will increase further during the forecast period. Health monitoring is a major application which uses customized accessories along with mobile devices. Smart home solutions is another segment that will get closer to the mainstream audience from its niche categorization in the current market scenario. The segment is expected to see a significant growth owing to extensive usage of mobile devices during the forecast period. Tapping into the rural market 47% of the global population is based in rural areas, and the penetration of smartphone is relatively low in this region owing to budgetary constraints and low adaptability. The very low penetration of smartphones has resulted in even lower penetration of mobile accessories in rural areas. However, increasing number of local vendors are trying to tap into the uncharted market and are trying to sell these accessories at the lowest possible price so as to fall within the budgetary range of rural families. The smartphone penetration in this region is also expected to increase during the forecast further fostering the growth of the global mobile accessories market. Browse Related Reports:
Do you need a report on a market in a specific geographical cluster or country but can't find what you're looking for? Don't worry, Technavio also takes client requests. Please contact [email protected] with your requirements and our analysts will be happy to create a customized report just for you. About Technavio Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected]. View source version on businesswire.com: http://www.businesswire.com/news/home/20160628005098/en/ |
