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Consumer electronics are products electronic devices used for day-to-day applications. These devices include computer, smartphones, digital cameras, smart cameras, digital cameras, smartphones, etc. These consumer electronics are accompanied by various accessories such as a tripod, additional flash, earphones, headphones, chargers, screen guards, covers, etc.

Market Statistics:

GCC and Levant electronics accessories market is expected to surpass US$ 1,193.5 Mn in terms of value by the end of 2028.

Market Drivers

Growing internet penetration leading to rising preference for online retail is expected to propel the GCC and Levant electronics accessories market growth over the forecast period. Increasing internet penetration in the region is increasing consumer inclination towards online retail, primarily in countries such as UAE, KSA, Kuwait, Bahrain, and Turkey. This trend is especially prevalent in relatively developed countries in the region such as Turkey, Israel, and UAE, coupled with robust telecommunications infrastructure in these countries.

Market Opportunity

Advent new devices with innovative features can provide major growth opportunities. Companies in Oman are focused towards development of innovative electronics accessories in order to cater to the ever-changing demands of tech-savvy consumers. Most companies offer a wide variety of premium to low range of products to cater to all types of consumers. For instance, in 2015, Sony launched a wide range of high-resolution audio products such as Walkman, portable amplifiers, headphones, and digital stereo recorders. In 2015, Panasonic Corporation introduced HGS10 Bone Conduction Headphones in GCC and Levant countries. This product offers better connectivity and is lightweight offering ease to the consumer.

GCC and Levant Electronics Accessories Market: Recent Developments

Major players in the market are involved in product development, in order to enhance the market presence.

  • For instance, in February 2018, Toshiba Gulf FZE, a subsidiary of Toshiba Corporation, launched headphones, Bluetooth speakers, and portable music systems.
  • In September 2021, Catalyst launched new fresh line of cases for protection for iPhone 13. The company is also introducing two new colorways with this series such as Influence case for the 13 Pro and 13 Pro Max with Glow-in-the-Dark, and the Vibe Case for the 13 Pro and 13 Pro Max with Battleship Gray.

Market Restraint

Economic instability in certain Levant countries is expected to hamper the GCC and Levant electronics accessories market growth over the forecast period. Political and economic instability in certain Levant countries has led to sluggish growth of consumer products, which has, in turn, led to reduced adoption of electronics accessories among consumers in the recent past. Furthermore, economic instability further restricts manufacturers from investing and thus, is a factor expected to hamper the overall economic structure of the region.

GCC and Levant Electronics Accessories Market - Impact of Coronavirus (Covid-19) Pandemic

The COVID-19 pandemic affected the GCC and Levant electronics accessories market, similar to every other industry and market. Following the outbreak in December 2019, many countries adopted stringent regulations on physical distancing, rendering manufacturing activities to halt. China being the largest manufacturer of consumer electronics experienced the major negative impact due to the COVID-19 pandemic with the government implementing strict rules on international travel and trade. On the contrary, the demand for electronics accessories such as headphones, wireless earphones, wireless chargers, and more increased due to rising adoption of work from home policies and e-learning. However, the market is gradually recovering from the early decline with many countries relaxing their regulations.  

To know the latest trends and insights prevalent in the GCC and Levant Electronics Accessories Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/gcc-and-levant-electronics-accessories-market-4727

Key Takeaways:

  • The GCC and Levant electronics accessories market was valued at US$ 778.8 Mn in 2020 and is forecast to reach a value of US$ 1,193.5 Mn by 2028 at a CAGR of 5.5% between 2021 and 2028. This is owing to increasing consumer inclination towards mobile devices, primarily in countries such as UAE, KSA, Kuwait, Bahrain, and Turkey.
  • The Single-brand Store segment was valued US$ 3 Mn in 2020 and is expected to witness a CAGR of 5.4% over the forecast period.

Market Trends

Increasing GDP per capita in Lebanon is fuelling domestic consumption of consumer products to a significant extent in the country. Furthermore, improving telecom infrastructure is enabling increasing awareness of consumer electronics and in turn driving the demand for electronics accessories in the country. Companies operating in the electronics accessories market in Lebanon are focused on new product development in order to gain consumer confidence towards a particular brand. Improving Internet connectivity coupled with increasing smartphone usage in Lebanon is expected to drive the demand for electronics accessories such as headphones, speakers, and chargers in the near future. Moreover, penetration of connected devices in the country is anticipated to further fuel the demand for mobile phone accessories in the country.

A large number of players operating in the electronics accessories market in Jordan offer a range of mobile phone and computer accessories at competitive prices in order to gain a significant consumer base in the country. For instance, Samsung mobile brand is popular among consumers in Jordan due to benefits such as quality and uniquely designed accessories. Mobile phone penetration has witnessed a surge in Jordan at a significant rate in the recent past. This is further driving the demand for mobile phone accessories in the country.

Competitive Section

Key players involved in the GCC and Levant electronics accessories market are Intex Technologies, Samsung Electronics Co., Ltd., Astrum Holdings Limited, Sony Corporation, Logitech International S.A., Toshiba Corporation, LG Electronics Inc., Panasonic Corporation, Pioneer Corporation, and Clarion Co., Ltd.

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