Persistence Market Research has recently published its forecast report on the Device Protection Market in Asia-Pacific, insights from which project that the market will rake in US$ 17,680.9 Million in revenues by the end of 2026. The market, which is presently valued at closed to US$ 10,000 Million, is anticipated to exhibit a steady CAGR of 5.9%. Surging demographics of mobile phone and smartphone users in Asia-Pacific countries such as Japan, China, South Korea, and India, among others, has prompted the production of protective cases to a large extent.
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In the report, titled “Device Protection Market: Industry Analysis and Forecast, 2016-2026,” the demand for mobile phone protective cases is cited to grow at the expense of strengthening distribution network across the Asia-Pacific region. While rising population and proliferation of smartphones offer the necessary boost for market’s growth, absence of standardization is expected to curtail the development of advanced mobile phone protective cases.
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Key market players
- Apple Inc.
- Samsung Electronics Co., Ltd.
- Reiko Wireless Inc.
- Pelican Products Inc.
- Moshi
- Otter Products, LLC
- Griffin Technology, Inc.
- Belkin International Inc.
- CG Mobile Ltd.
- Incipio, LLC
- Others
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According to the report, over half of the regions’ mobile phone protective case revenues will be accounted by China alone. In 2016, China’s outright dominance on the Device Protections market helped it attain a value of more than US$ 4,000 Mn. India is also expected to join China by being at the forefront of market value contribution throughout the forecast period.
At present, a majority of mobile phone protective cases sold across the region are projected to be available at low price range. Towards the end of 2026, the demand for mobile phone protective cases at premium and medium price range will gain traction, accounting for more than 60% share in terms of revenues.
Likewise, the report also predicts that in 2017, multi-brand stores will be largest distributors of mobile phone protective cases in Asia-Pacific. However, the dominance of multi-brand stores as well as single-brand stores will incur marginal decline towards the end of forecast period. This downtrend is anticipated to be recompensed by rising prominence of online distribution channels.
Read More Trending “PMR Exclusive Article”-https://www.globenewswire.com/en/news-release/2022/05/30/2452344/0/en/Asia-Pacific-Mobile-Protective-Cases-Market-is-anticipated-to-exhibit-a-steady-CAGR-of-5-9-by-2026-Persistence-Market-Research.html
