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