Fact.MR has announced the addition of the “Automotive Mobile Accessories Market Forecast, Trend Analysis & Competition Tracking: Global Market insights 2017 to 2022"report to their offering.

Rockville, MD -- (SBWire) -- 12/21/2018 --Automotive mobile accessories market generated revenues worth over US$ 25 billion in 2018, as per Fact.MR valuation. Automobiles equipped with advanced accessories are attracting a higher number of consumers. Ongoing trends such as increasing dependence on digital devices, connected cars and consumer demand for customization in automobiles are complementing growing sales of automotive mobile accessories.

Fact.MR study finds that demand for phone holders will remain top selling among other types of automotive mobile accessories. According to Fact.MR finding, nearly half the revenue in automotive mobile accessories market will be occupied by phone holders through 2022. Especially, magnetic air vent phone holders are witnessing increasing adoption than other types of phone holders.

As mobile subscription are increasing at an exponential rate, demand for in-built phone holders in automobiles has witnessed a significant surge. Further, demand for convenience and on-the-go mobile phone access have increased the need for phone holders. In particular, increasing use of navigation tool to track GPS signals while driving is one of the key trends generating a need for an inbuilt phone holder in automobiles.

Fact.MR study estimates that demand for USB charger will also witness a rapid growth against the backdrop of consumer demand for chargers in automobiles. In addition, sales of USB cables are also anticipated to generate considerable revenues in near future on the back of increased use of infotainment devices in automobiles.

The study finds that three-quarter sales of automotive mobile accessories are estimated to be installed in passenger car vehicles by the end of 2022. An evidently larger share of passenger cars among all four-wheel drives combined with growing consumer propensity for compact cars and SUVs is fuelling sales of passenger cars than that of LCVs and HCVs. Following this, a majority of market players in the automotive mobile accessories market are concentrating developments in passenger car vehicles.

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Low-Priced Accessories Held Nearly Half the Revenues in 2018

Fact.MR shows that low-priced automotive mobile accessories will witness greater sales as compared to mid-or high-priced accessories. In 2018, sales of low-priced automotive mobile accessories generated worth over US$ 12 billion. As the in-built accessory trend is yet to enter the market, consumers prefer pocket-friendly products for an external installation of mobile accessory.

Well aware of the consumer sentiments, the current marketplace of automotive mobile accessories witnesses hegemony of aftermarket players. Although OEMs are actively engaged in collaborations with mobile accessory manufacturers, aftermarket sales accounted for a hefty market share of over 75% in 2018.

Europe Reflects a Dominant Share in Automotive Mobile Accessories Market

Fact.MR study estimates that Europe's share in the automotive mobile accessories market will be dominant throughout the forecast. In 2018, sales of phone holders were estimated to be the highest in the region. With the flourishing automotive industry, sales of automotive mobile accessories continue to rise in the region.

North America and APEJ were also estimated to be lucrative markets wherein the former reported nearly US$ 9 billion market and later accounted for over 20% share in the automotive mobile accessories market in 2018. Increasing adoption of smart devices in the APEJ region is witnessing increasing sales of passenger cars as well as that of low-priced automotive mobile accessories.

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Equipment manufacturers in the automotive mobile accessories market are actively engaged in the expansion of current product offerings. In a bid to stay ahead of consumer demand, developments are mainly focused on improving core components and products' body design. Evolving consumer preference for convenience and high-tech accessories has invited the introduction of an ample number of low-priced, high-tech and multi-functional varieties in the automotive mobile accessories market.

Aforementioned insights are mentioned in Fact.MR's automotive mobile accessories market report which tracks the market performance for the period 2017-2022.

For more information on this report, please visit:

https://www.factmr.com/report/6/automotive-mobile-accessories-market

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