The spate of continuous innovation in the automotive market has also influenced incorporation of advanced mobile accessories. Consumer demand for cross-device connectivity has meant that far more automotive mobile accessories are developed and sold than before. The greater push toward amalgamation of automotive and technology has opened up new avenues for growth in this segment. Some of the key trends influencing mobile accessories sales include personalization, customization, and increasing ownership duration. Going forward, the market will witness an increasing level of collaboration between OEMs and mobile accessory manufacturers, as consumers expect various features to be ‘in-built’ instead of shopping for them in the aftermarket.
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Automotive mobile accessories are components that are used to enhance the functionality of a vehicle. These accessories are widely used for enhancing connectivity features inside a vehicle. Automotive mobile accessories are widely available in the aftermarket.
Key Highlights on Automotive Mobile Accessories Market
- 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.
The low cost segment of the automotive mobile accessories market had a one-half revenue in 2017 and it is predicted to retain its strong position. The low cost segment is poised to grow to almost US$ 16 billion by the end of the forecast period with a steady CAGR. Europe has a share of nearly one-third and it should push past the US$ 5 billion mark in 2022, making it too big to ignore. The mid-sized segment is approx. half the size of the low-cost segment in the automotive mobile accessories market, but it could reach an impressive value by the end of the five-year study.
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Passenger cars outpace all others automotive mobile accessories market
Passenger cars alone comprise a revenue share of nearly three-fourth of the vehicle type segment in the automotive mobile accessories market. A market opportunity of more than US$21 billion in 2022, it wouldn’t be surprising if major players decide to focus exclusively on passenger cars as opposed to LCV’s and HCV’s. Increasing demand for compact cars and SUVs is also expected to boost the dominance of passenger cars on the global market for automotive mobile accessories.
Competition Tracking
The report has also profiled key manufacturers of automotive mobile accessories, which include companies such as Belkin International, Targus International, LLC, Car Mate Mfg Co. Ltd., Mophie, Inc., Griffin Technology, Inc., iOttie, Arkon Resources, Inc., Pro.Fit International, Inc., BRACKETRON, INC., Moshi, Anker Technology Co. Limited, Wizgear, and Mountek.
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