Automotive Mobile Accessories Market Will Possibly Reach US$ 30 Bn in Revenues by 2022
Automotive Mobile Accessories Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022
Rockville, MD -- (SBWire) -- 08/29/2018 --Adoption of mobile accessories in cars and other automobiles is growing on the account of advantages of integrating these digital tools with the performance of the vehicle. Cars equipped with prominent automotive mobile accessories are expected to draw higher customers, while vehicles geared with advanced accessories will pave way for a new consumer base. Both set-ups are indicating that automotive mobile accessories are healthy for stimulating automobile sales. Fact.MR's latest study on the global automotive mobile accessories market discusses such factors and digs deep into the growth of the market over the past few years.
The report further offers an insightful forecast on the global market for automotive mobile accessories. Apropos the report, the global market for automotive mobile accessories is anticipated to reach US$ 24.3 Bn value by the end of 2017. Fluctuating commodity prices, rapid adoption of enabling technologies such as Internet of Things (IoT) and improving electrical frameworks in automobile offerings will collectively stimulate the market's growth, during the assessment period 2017-2022. By the end of 2022, more than US$ 30 Bn worth of automotive mobile accessories will be sold across the globe, reflecting a steady value CAGR.
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In 2016, the global automotive mobile accessories market recorded net sales of accessories worth over US$ 23 Bn
The report projects that Europe's presence on the global automotive mobile accessories market will be dominating. Through 2022, Europe's automotive mobile accessories revenues are anticipated to soar steadily at moderate CAGR.
North America's automotive mobile accessories market is also expected to grow vigorously, bringing in an estimated US$ 8.6 Bn revenues towards the end of 2022.
With more than 20% share on global market revenues, the Asia-Pacific excluding Japan (APEJ) region is also pegged to be at the forefront of automotive mobile accessories market's regional expansion during the assessment period.
Phone-holders are observed to top-selling products in the automotive mobile accessories market. Through 2022, over half of global automotive mobile accessories revenues are anticipated to be accounted by sales of phone holders.
In 2017 and beyond, adapters, USB holders and portable speakers will collectively contribute to a little over two-fifth of global revenues.
The report emphasizes that sales of such accessories will be high if priced in the low range. In 2017, more than US$ 12 Bn worth of automotive mobile accessories sold across the globe were valued in the low price range.
Almost three quarters of global automotive mobile accessories market value throughout the forecast period will be attributed by sales of these accessories in passenger car vehicles.
Likewise, the report anticipates that aftermarkets will be largest sales channels for automotive mobile accessories as customization needs of automobile owners are gaining traction. In 2017, aftermarket sales of automotive mobile accessories will be accounting for more than three-fourth of the market value.
Companies such as Belkin International, Inc., CAR MATE MFG. CO. LTD., Griffin Technology, Inc., Targus International, LLC., Mophie, Inc., Arkon Resources, Inc., Pro.Fit International Inc., BRACKETRON, INC., Wizgear, Moshi, Anker Technology Co. Limited, Mountek and iOttie are profiled in the report as key players in the global automotive mobile accessories market.
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