The global Apple accessories market is expected to grow at 4.8% CAGR over the forecast period, 2016-2020. Demand is expected to remain strong in China, where rapid adoption of smartphones, combined with an increasing preference towards the ‘Apple’ brand is pushing sales. The market in China is expected to grow at 8.5% CAGR through the forecast period. Globally, the demand for Apple accessories is expected to be positively influenced by the growing BYOD trend.
Weak distribution channels in emerging markets have remained a longstanding challenge for manufacturers. However, popularity of e-commerce and focus on creating alternative distribution channels have positively impacted Apple accessories sales in emerging markets. The steady growth in these markets is expected to offset weak demand in developed markets of the U.S. and Europe.
Apple accessories sales in Asia will be driven by rising popularity of e-commerce websites and apps. As is the case in Asia, steady e-commerce sales are driving Apple accessories sales in Brazil and Russia. These factors will contribute to the overall growth of the global market.
Future Market Insights identifies that undefined standards in terms of components and technology have led to price and product differentiation. Moreover, widespread availability of counterfeit and pirated products offered at a fraction of the original price in various developing countries can significantly inhibit demand for Apple accessories.
For More Detailed Insights on Apple Accessories Market
The Future Market Insights report reveals that iPhone screen guards will continue to be the most-sought after accessory among consumers. iPad cases and iPad screen guards are expected to remain the other lucrative product types. Collectively, these three product segments accounted for over 50% revenue share of the global market in 2016, and the status quo will remain unchanged throughout the forecast period. Among these product types, iPad cases segment will only witness an increase in its revenue share by 2020.
North America will continue to be the most lucrative market, with the US leading total sales. The North America Apple accessories market was valued at US$ 1.93 Bn in 2016, with the US accounting for US$ 1.38 Bn in revenues. Future Market Insights projects the North America market revenues to increase at a CAGR of 4% CAGR through 2020. The report further reveals that the Apple accessories market in Europe is predicted to register a CAGR of 4.0% in the span of next four years. However, the Apple accessories market in South East Asia is expected to witness relatively sluggish growth by the end of 2020.
3M, Bose Corporation, Western Digital Corporation (SanDisk), Logitech, Otter Products, LLC., Decoded, Adobe, Bang & Olufsen, Incase and ACCO (Kensington Computer Products Group) are the key manufacturers operating in the Apple accessories market globally.
Authors of this report can be reached at email@example.com
About Electronics, Semiconductors, and ICT division of FMI
The electronic, semiconductors, and ICT division at Future Market Insights focuses on tracking and analyzing ever-changing dynamics of the IT and telecommunication industry. The ICT team has also executed several complex projects pertaining to the convergence of healthcare and ICT, rapid adoption of ‘as-a-service’ business model, growth prospects of consumer electronics market, and evolution in design and fabrication of semiconductors. To help clients from all over the globe meet their unique needs, the team offers a variety of customized market research reports and consulting services: reach out to explore how we can help.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take 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 track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.