Future Market Insights (FMI) delivers key insights on the Middle East electronics accessories market in its latest report titled ‘Electronics Accessories Market: Middle East Industry Analysis and Opportunity Assessment, 2015 – 2025’. In terms of value, the Middle East electronics accessories market is projected to register a healthy CAGR of 5.4% during the forecast period due to various factors, regarding which FMI offers vital insights in detail in this report. Besides, the Middle East electronics accessories market is projected to register a CAGR of 6.5% in terms of volume during the forecast period. Players in Middle East are developing specific products such as headphones and earbuds and aesthetically designed electronic devices. Demand for earbuds and headphones that offer superior noise cancellation is expected to significantly rise among the increasing number of audiophiles in the regions in the near future.
According to the FMI’s report, Changes in consumer behavior, robust product innovations, and expanding distribution networks continue to influence growth of the Electronics Accessories market. FMI’s analysts rely on unique research methods and comprehensive data study of the current and upcoming trends of the Electronics Accessories market report and gather data from a wide range of primary and secondary sources.
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The Middle East electronics accessories market is segmented on the basis of product type, end use, price range, distribution channel and region. On the basis of product type, the market has been segmented into mobile phone accessories, computer accessories and automotive infotainment accessories. In terms of value, the mobile phone accessories segment has been estimated to account for 62.7% share of the Middle East electronics accessories market by 2015 end. Also, the automotive electronics segment in the region is witnessing a significant surge in its growth, and thereby is expected to record sustainable growth in the near future. High volume of car sales is, in turn, expected to further drive sales of automotive infotainment systems over the next five to six years in these regions.
Growth of the Middle East electronics accessories market is mainly driven by proliferation of connected devices, increasing disposable income of consumers in urban areas in GCC and growing Internet penetration, which in turn is leading to the rising preference of consumers towards online retail in these regions. Increasing adoption of mobile devices amongst the youth in the GCC region is providing significant stimulus for growth of the electronic accessories market in the region.
Impact of COVID-19 on Electronics Accessories Market
With the onset of COVID-19, there has been a significant impact on the technology sector. Disruptions of electronic supply-value chain and raw material supply have adversely impacted the technology industry. However, there has been a positive impact on the industry with the adoption of remote working. Rapid focus on integrating digital techniques and big data analytics in IT services and technology industry are expected to result in a healthy outlook.
FMI’s recently published report has a chapter exclusively dedicated to COVID-19 impact analysis. This is intended to aid Electronics Accessories market stakeholders in deploying innovative strategies to overcome the challenges that are likely to affect the Electronics Accessories market.
This report covers trends driving each segment and offers analysis and insights on the potential of electronics accessories in all the countries covered under Middle East. In terms of revenue share contribution, GCC region has been estimated to dominate the electronics accessories market throughout the forecast period. This is primarily attributed to the large number of affluent consumers in the region, coupled with technological advancements, which in turn are leading towards increased demand for connected devices such as tablets and smartphones. In view of the increasing proliferation of these devices in Middle East market, demand for accessories such as headphones, power banks and others is expected to increase significantly over the next five to six years in these regions.
Key players in the Middle East electronics accessories market include Samsung Electronics Co. Ltd., Sony Corporation, Toshiba Corporation, Panasonic Corporation, Clarion Co., Ltd., Pioneer Corporation, LG Electronics Inc., Logitech international S.A., Astrum Holdings Limited and Intex Technologies India Ltd. A large number of players operating in the electronics accessories market are focused on entering into collaborations and partnerships with local distributors and retailers in order to enhance their market presence in the Middle East countries. Moreover, such collaborations and partnerships also enable the companies to increase their product visibility across the regions.
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Why Buy FMI’s Report?
- Extensive analysis on key trends and opportunities on the industries ongoing trends in different regions across the globe
- All-inclusive assessment on recent technological advancements and forecast of the upcoming decade
- A comparative analysis of leading players and emerging players in the Electronics Accessories market
- Reliable information on new product launches, organic and inorganic strategies, and more
- Valuable insights on the impact of regulatory framework on the global Electronics Accessories market
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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