NEW YORK, May 30, 2022 (GLOBE NEWSWIRE) – The surge in mobile and smartphone user demographics in Asia-Pacific countries such as Japan, China, South Korea and India, among others, has greatly pushed the production of protective cases. Perseverance market research firm recently published its forecast report about Asia Pacific Mobile Protective Bag Marketinsights into the project from which the market will generate revenues of USD 17,680.9 million by the end of 2026. The market, which is currently valued at USD 10,000 million, is expected to register a steady compound annual growth rate of 5.9%.
In the report, titled “Mobile Phone Protection Market: Asia-Pacific Industry Analysis and Forecast, 2016-2026”, an increase in demand for mobile phone protection cases is mentioned at the expense of strengthening the distribution network across the Asia-Pacific region. While the increasing population and proliferation of smartphones provide the necessary impetus for market growth, the absence of standardization is expected to limit the development of advanced mobile phone protection cases.
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The report featured a glimpse of world leaders in the mobile phone industry, such as Apple Inc. and Samsung Electronics Co., Ltd. , as the major players in the market. The report also notes that Reiko Wireless Inc. and Pelican Products Inc. and Incipio, LLC, Moshi, Otter Products, LLC, and Belkin International Inc. and Griffin Technology, Inc. and CG Mobile Ltd. Asia Pacific region.
According to the report, more than half of the mobile phone case revenue in the region will be represented by China alone. In 2016, China’s outright dominance of the mobile phone protective case market in the Asia Pacific region helped it achieve a value of more than 4000 million US dollars. India is also expected to join China by being at the forefront of market value contributor throughout the forecast period.
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Currently, it is expected that the majority of mobile phone cases sold across the region will be available at low prices. Towards the end of 2026, the demand for mobile phone protective cases in premium and middle price range will gain momentum, accounting for more than 60% of revenue in terms of revenue.
Similarly, the report also predicts that in 2017, multi-brand stores will be the largest distributors of mobile phone protection cases in the Asia Pacific region. However, the dominance of multi-brand stores as well as single-brand stores will suffer a marginal decline at the end of the forecast period. This downward trend is expected to be offset by the increased prominence of online distribution channels.
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