According to the report, the Europe walking phone accessoriesmarketwas estimated at $36.67 billion in 2019, and isprojected toreach $47.18 billion by 2027,growingat a CAGR of 2.8% from 2020 to 2027.
Europe Mobile Phone Accessories Market Size, trends and opportunities to 2027
Allied Market Research proclaimed a news titled, “Europe Mobile Phone Accessories Market by Product Type (Battery, Headphones, Portable Speaker, Chargers, Memory Card, Power Bank, Protective Case, Battery Cases, Screen Guard, Popsockets, and Others),Distribution Channel (Online and Offline), and Price Range (Low, Mid, and Premium):Opportunity Analysis and Industry Forecast, 20202027.” According to the report, the Europe motile phone accessories industry was estimated at $36.67 billion in 2019, and is expected to hit $47.18 billion by 2027, registering a CAGR of 2.8% from 2020 to 2027.
Drivers, restraints, and opportunities-
Rise in adoption of smartphones, magnify in use of smart ambulatory phone accessories, advancements in on-the-go devices and wireless attachment, and pregnancy of gaming accessories drive the excrescence of theEurope expressive phone accessories market. On the additional hand, surge in penetration of counterfeit products impedes the excrescence to some distance However, technological advancements in imaging and photographic accessories are expected to originate multiple opportunities in the industry
Newer and smarter accessories are currently trending the European market; but the outbreak of the pandemic has brought along extreme disruptions in the supply sequence which, in turn, has theatrical the doorstep to a significant extent.
Multi-brand stores make it convenient for consumers to compare motile accessories in terms of appearance, features and pricing. However, the lockdown and multiple restrictions imposed by several government bodies in the sash have stopped people from inclining toward multi-brand stores that quote products from multiple brands at one recess This factor has again impacted the European animated phone accessories doorstep badly.
The headphones morsel to keep the lion’s quota by 2027-
Based on product type, the headphones mouthful accounted for partly one-fourth of the Europe ambulatory phone accessories peddle revenue in 2019, and is expected to command the perch by the second of 2027. Penetration and following integration IoT and AI in headphones drive the knob of the bite Simultaneously, the salvo cases crumb would fashion at the fastest CAGR of 7.6% during the examine period
The offline nibble to dominate during the estimated period-
Based on distribution channels, the offline bit contributed to around three-fourths of the Europe expressive phone accessories tout part in 2019, and is projected to escort the attract by 2027. Attractive outlets and customer gratification influences the offline distribution channels for moving phone accessories peddle and this factor fuels the grain growth. The online segment, on the further hand, would brochure the fastest CAGR of 4.3% throughout the forecast period, owing to adoption of online distribution channels over the years
Eastern Europe to dominate in terms of revenue-
Based on geography, the Eastern Europe morsel held themajor sharein 2019, generating around one-fourth of the Europe moving phone accessories peddle Increase in usage of smart phone devices in the cestuses propels the market growth. At the alike time, Germany would portray the fastest CAGR of 4.7% till 2027.
Frontrunners in the industry-
- Sennheiser Electronic GmbH & Co KG
- Amazon Inc
- Sony Corporation
- Samsung Electronics Co, Ltd
- Xiaomi Corporation
- Apple Inc
- Bose Corporation
- Panasonic Corporation
- Carrefour SA
- J SAINSBURY PLC