Portland, July 09, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Europe mobile phone accessories market generated $36.67 billion in 2019, and is estimated to reach $47.18 billion by 2027, registering a CAGR of 2.8% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenario.
Increase in adoption of smartphones, rise in demand for smart mobile accessories, technological advancements in gaming accessories drive the growth of the Europe mobile phone accessories market. However, availability of counterfeit products hinders the market growth. On the other hand, increase in technological advancements in smartphone accessories creates new opportunities in the coming years.
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Covid-19 scenario:
- During the coronavirus pandemic, the manufacturing and supply chain of mobile phone accessories has been impacted badly in the European region due to lockdown. Research and development activities have been stopped up to certain extent.
- The multi-brand physical stores have been closed down during the lockdown and revenue has been reduced drastically.
The report offers a detailed segmentation of the Europe mobile phone accessories market based on product type, distribution channel, price range, and region.
Based on product type, the headphones segment contributed to the largest share in 2019, accounting for nearly one-fourth of the total share, and is estimated to maintain its dominant position during the forecast period. However, the battery cases segment is expected to register the highest CAGR of 7.6% from 2020 to 2027.
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Based on distribution channels, the offline segment accounted for the largest share in 2019, holding nearly three-fourths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the online segment is estimated to portray the highest CAGR of 4.3% during the forecast period.
Based on region, Eastern Europe contributed the highest share, accounting for around one-fourth of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Germany is expected to grow at the highest CAGR of 4.7% from 2020 to 2027.
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Leading market players analyzed in the research include Panasonic Corporation, Sony Corporation, Sennheiser Electronic GmbH & Co. KG, Samsung Electronics Co., Ltd., Bose Corporation, Apple Inc., Amazon Inc., MediaMarkt, Carrefour S.A., J SAINSBURY PLC, and Xiaomi Corporation.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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