Amalgamation of Automotive and Technology has Introduced Gainful Avenues for Automotive Mobile Accessories Market, Reveals Fact.MR – Press Release
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The wave of relentless innovation in the automotive sector is expected to have a significant impact on the inclusion of technologically advanced mobile accessories in autos. The demand for seamless cross-connectivity has given the market for car mobile accessories even more momentum. The market for automotive mobile accessories is being driven by the growing demand for customization and personalization as well as the soaring demand for these items. Intriguing partnerships between OEMs and mobile accessory producers are anticipated on the vehicle mobile accessories market in the upcoming years. These partnerships would meet customers’ increasing need for “in-built” features, diversifying the market growth for car mobile accessories.
The market for automotive mobile accessories is experiencing a considerable increase in demand due to the growing trend of expanding the usefulness of automobiles. Additionally, it is anticipated that improving connectivity features while on the go would provide the car mobile accessories market the much-needed boost. According to the Fact.MR analysis, the market for vehicle mobile accessories was worth US$24,320 million in 2017. By the end of 2022, the market is projected to be worth roughly US $30, 416 million.
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With the increasing use of smartphones, phone holders have become one of the most popular forms of mobile accessories for vehicles. Phone holders are anticipated to be one of the most popular varieties in the market for car mobile accessories due to its seamless interaction with mobile phones while in motion. This area of the automotive mobile accessories market is being further driven by phone holders, which are expected to be very useful for taking phone calls while driving. Additionally, the necessity of a phone holder for hassle-free and flawless driving has increased its dominance in the market for car mobile accessories. In the market for vehicle mobile accessories, the phone holder sector is expected to grow to be the largest product type segment.
GPS navigation is a major factor encouraging the use of phone holders in the automobile mobile accessory market. The market for car mobile accessories is expected to see an increase in demand for GPS navigation as cab services increasingly use it. It is thought that the invention of magnetic air vent phone holders is a significant novelty that is also growing in popularity as a product in the car mobile accessories sector.
In terms of revenue, Europe is anticipated to dominate the market for automotive mobile accessories. The North American automotive mobile accessories market is predicted to expand at a moderate CAGR, reaching new heights. Due to the quickly depleting batteries in smartphones, USB chargers are also predicted to experience strong growth in the vehicle mobile accessories industry. Additionally, one of the key factors boosting USB cable sales in the car mobile accessories market is the craze for watching or listening to audio or video files while driving.
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It is anticipated that the low-cost segment of the automotive mobile accessories market will continue to have a major share of market revenue in 2018. The market for vehicle mobile accessories is too large to ignore, and the low-cost category is primed to rise at a parabolic rate. By the conclusion of the forecast period, the mid-sized sector in the market for automotive mobile accessories is also anticipated to reach amazing heights. A significant portion of the market for automotive mobile accessories’ revenue comes from passenger cars. It wouldn’t be shocking if the key players in the market for automotive mobile accessories were to heavily rely on passenger cars rather than LCVs and HCVs. Moreover, the growing popularity of tiny cars.
Furthermore, the popularity of compact vehicles and SUVs is anticipated to increase the dominance of passenger cars in the market for automotive mobile accessories.
Competitive Environment
The report has profiled some of the key vendors of the automotive mobile accessories, which include names 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
- Mountek
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This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
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