Future Market Insights (FMI) delivers key insights on the Middle East electronics accessories market in its latest report titled 'Electronics Accessories Market: Middle East Industry Analysis and Opportunity Assessment, 2015 - 2025'.
In terms of value, the Middle East electronics accessories market is projected to register a healthy CAGR of 5.4% during the forecast period due to various factors, regarding which FMI offers vital insights in detail in this report. Besides, the Middle East electronics accessories market is projected to register a CAGR of 6.5% in terms of volume during the forecast period. Players in Middle East are developing specific products such as headphones and earbuds and aesthetically designed electronic devices. Demand for earbuds and headphones that offer superior noise cancellation is 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. On the basis of product type, the market has been segmented into mobile phone accessories, computer accessories and automotive infotainment accessories. In terms of value, the mobile phone accessories segment has been estimated to account for 62.7% share of the Middle East electronics accessories market by 2015 end. Also, the automotive electronics segment in the region is witnessing a significant surge in its growth, and thereby is expected to record sustainable growth in the near future. High volume of car sales is, in turn, expected to further drive sales of automotive infotainment systems over the next five to six years in these regions.
Growth of the Middle East electronics accessories market is mainly driven by proliferation of connected devices, increasing disposable income of consumers in urban areas in GCC and growing Internet penetration, which in turn is leading to the rising preference of consumers towards online retail in these regions. Increasing adoption of mobile devices amongst the youth in the GCC region is providing significant stimulus for growth of the electronic accessories market in the region.