Electronic accessories market continues to surge in the Middle East
A rise in demand for accessories, such as headphones and power banks, will further drive the electronics accessories market
The Middle East electronics accessories market is projected to increase from $572m in 2014 to $1,014m by 2025.
A report by Future Market Insights revealed that players in the Middle East are developing specific products and the demand for earbuds and headphones that are noise cancelling specific are expected to significantly rise among the increasing number of audiophiles in the regions in the near future.
The Middle East electronics accessories market is segmented on the basis of product type, end use, price range, distribution channel and region. Product type is split into mobile phone accessories, computer accessories and automotive infotainment accessories. The mobile phone accessories category will account for 62.7% share of the Middle East electronic accessories market by 2015 end.
Furthermore, high volumes of car sales is expected to drive automotive electronics and infotainment systems for the next five to six years.
The increased adoption of mobile devices amongst the youth in the GCC region is also providing significant stimulus for growth of the electronic accessories market in the region.
This report covers revenue share contribution, and revealed the GCC region has been estimated to dominate the electronics accessories market throughout the forecast period. This is primarily attributed to the large number of affluent consumers in the region, coupled with technological advancements, which in turn are leading towards increased demand for connected devices such as tablets and smartphones.
In view of the increasing proliferation of these devices in Middle East market, demand for accessories such as headphones, power banks and others is expected to increase significantly over the next five to six years in these regions.
The report also highlighted that a large number of players operating in the electronics accessories market are focused on entering into collaborations and partnerships with local distributors and retailers in order to enhance their market presence in the Middle East countries.