The Asia-Pacific/Middle East phone accessories market could be worth US$154.8 billion in 2027

Phone accessories make for lucrative markets. (Source: Needpix)
Phone accessories make for lucrative markets. (Source: Needpix)
Mobile phone accessories are big business: they made for a US$118 billion market for the combined Middle East/Asia-Pacific regions in 2019. New market research indicates this worth could grow to nearly $155 billion by 2027. Australia and New Zealand may have the greatest share of it by sub-region in that year.
Deirdre O'Donnell,

The mobile phone accessories market (which encompasses often-necessary kit such as phone cases, screen protectors, external batteries, earphones and so on) in the Middle East and APAC zones was found to have made US$117.8 billion in 2019. This is thought to grow to nearly $155 billion over the next 7 years, at an annual compound rate of 3.6%.

This growth is thought to be driven by rising demand for portable and wireless devices in these regions, stoked by diligent marketing via social media. Then again, it was held back in 2020 thus far by the Covid-19 pandemic, which depressed manufacturing as well as R&D for the accessories industry as a whole.

The latest research suggests that Australia/New Zealand will be the most prominent sub-region for the market by 2027, as indeed it was in 2019, representing a total share of over 10%. However, the Middle East is projected to become the fastest-growing zone over the years in question, with a CAGR of 7.6%. This is thought to be related to the fact that brands such as Panasonic, Apple and Sony are gaining footholds in the region.

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Deirdre O'Donnell, 2020-09-27 (Update: 2020-09-27)
Deirdre O'Donnell
I became a professional writer and editor shortly after graduation. My degrees are in biomedical sciences; however, they led to some experience in the biotech area, which convinced me of its potential to revolutionize our health, environment and lives in general. This developed into an all-consuming interest in more aspects of tech over time: I can never write enough on the latest electronics, gadgets and innovations. My other interests include imaging, astronomy, and streaming all the things. Oh, and coffee.