Latest Report on US Mobile Phone Accessories Market to Hit $74.43 Billion by 2026, at 13.7% CAGR

Rise in the demand for mobile phones in the U.S and rapid production of flexible, cost-effective, and convenient portable devices are the two major drivers for the growth of the U.S. mobile phone accessories market. Furthermore, increase in use of advanced electronic devices in North America due to constant technological advancements and rise in need for LTE as well as cloud technologies fuels the market growth. On the other hand, the fact that wireless accessories can offer seamless connectivity to the digital world creates various opportunities for the market growth in upcoming years.

The U.S. mobile phone accessories market was pegged at $28.52 billion in 2018 and is projected to reach $74.43 billion by 2026, registering a CAGR of 13.7% from 2019 to 2026. The report offers a detailed analysis of the key segments including top investment pockets, changing dynamics, market size & estimations, drivers and opportunities, and competitive scenario.

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On the basis of product type, the headphones segment held the lion’s in 2018, accounting for nearly one-fourth of the total market share. Moreover, this segment is estimated to dominate the market throughout the study period. Availability of enhanced technological advancements in headphones has urged the growth of the segment. However, the AR & VR headsets segment is projected to manifest the fastest CAGR of 37.0% during 2019-2026.

The U.S. mobile phone accessories market report includes an in-depth analysis of the major market players such as BYD Company Limited, Bose Corporation, JVC Kenwood Corporation, Energizer Holdings, Inc., Panasonic Corporation, Apple Inc., Sony Corporation, Samsung Electronics Co. Ltd., Plantronics, Inc., and Sennheiser Electronics GMBH & Co. KG.

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Why Smart Speaker Industry Gaining Utmost Traction During Forecast?

The proliferation of smart home devices, rising disposable income, and greater inclination toward technological products among millennials have boosted the growth of the global smart speaker market. However, privacy & security concern and localization of languages hamper the market growth. On the contrary, the establishment of natural language processing (NLP) is expected to create lucrative opportunities in the near future.

According to the report, the global smart speaker market was pegged at $4.36 billion in 2017 and is estimated to $23.32 billion by 2025, registering a CAGR of 23.4% from 2018 to 2025.

The global smart speaker market is divided on the basis of an intelligent virtual assistant, end user, distribution channel, price, and region. Based on an intelligent virtual assistant, the market is segmented in Amazon Alexa, Google Assistant, Siri, Cortana, and others. The Amazon Alexa segment dominated the market in 2017, accounting for nearly three-fifths of the total market. However, the Siri segment is estimated to manifest the fastest CAGR of 27.9% during the forecast period.

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On the basis of the end user, the market is bifurcated into personal and commercial. The personal segment held the largest share in 2017, contributing more than four-fifths of the total market. However, the commercial segment is estimated to portray the fastest CAGR of 24.7% through 2025.

Based on the distribution channel, the market is categorized into online and offline. The online segment held the largest share in 2017, garnering more than four-fifths of the market and is expected to register the fastest CAGR of 23.6% from 2018 to 2025.

On the basis of price, the market is divided into low, mid, and premium. The low segment held the lion’s share in 2017. However, the premium segment is estimated to register the fastest CAGR of 24.6% during the forecast period.

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The market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across the North America region held the largest share, contributing more than one-third of the market. However, the market across the Asia-Pacific region is estimated to register the fastest CAGR of 24.9% during the study period.

The global smart speaker market report provides analysis of the major market players such as Apple, Inc., Amazon.com, Inc., Alphabet Inc. (Google Inc.), Alibaba Group, Bose Corporation, Sonos, Inc., Samsung Electronics Co. Ltd., Xiaomi, Baidu Inc., and Plantronics, Inc. (Altec Lansing/AL Infinity, LLC).