Demand for mobile phone protective cases continues to grow steadily in Asia Pacific, as more consumers move from basic mobiles to mid-tier smartphones. The Asia Pacific mobile phone protective case market, valued at nearly US$ 9.9 billion in 2016, is projected to grow at 5.9% CAGR through 2026. China will remain the largest market during the forecast period.
Smartphone penetration is steadily growing in APAC on account of rising disposable income among the behemoth middle class in China and India. Collectively, the middle class in these two countries is estimated to be over 700 million, a lucrative statistic for manufacturers looking to increase volume sales. As more consumers migrate from a basic phone to a smartphone, the tendency to invest in protecting the phone is also gaining traction. Owing to these factors, demand for protective case market in Asia Pacific is witnessing steady gains.
Report For Sample with Table of Contents@ https://www.researchreportinsights.com/report/sample/110114933/Mobile-Phone-Protective-Cases-Market
Protective case sales are also anticipated to be driven by ‘fashion-conscious’ millennials, who use the cover as a style statement. The millennial demographic will continue to drive sales of protective cases during the forecast period.
Although the outlook on the APAC protective case market is positive, lack of standardization has been identified as a major impediment.Undefined standards create high product and price differentiation, hindering the growth of the market.
Multi- and single-brand stores account for bulk of sales of the APAC mobile phone protective case market. These two segments collectively accounted for over 70% revenue share of the market in 2016. However, sales through these channels will witness a significant dip in the future, as e-commerce channels offer tempting discounts and free home delivery to consumers.
The China mobile phone protective case market was valued at over US$ 5 billion in 2016. It is projected to grow at 6.4% CAGR through 2026, and surpass US$ 9.4 billion in revenues through 2026.
Request For Report Discount@ https://www.researchreportinsights.com/report/discount/110114933/Mobile-Phone-Protective-Cases-Market
Leading players in the Asia Pacific mobile phone protective case market are Apple Inc., Samsung Electronics Co., Ltd., Reiko Wireless Inc., Pelican Products Inc., and Moshi.
Key players in this market are focusing on a multi-pronged strategy, channelizing their efforts on both value and volume. The protective case portfolio of leading companies involves a range of products across the price spectrum. This strategy is aimed at catering to all the ends of the spectrum. However, several local companies are copying the logo and design of these leading companies and selling off the dummy products at a fraction of the cost. This is eating into the revenue share of leading players. Lax copyright laws and poor implementation will continue to be a concern for leading companies.
Research Report Insights
42 joseph street,
Portcarling P0B 1J0,
Muskoka, Ontario, Canada
T: +1-631-721-4201
Email: [email protected]
Web Site: http://www.researchreportinsights.com
Phone - (+91) 7875758555
Report Analysis@ https://www.researchreportinsights.com/report/rd/110114933/Mobile-Phone-Protective-Cases-Market
