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Global mobile music accessories market: 12.5% CAGR growth between 2012-2016
Global Mobile Music Accessories Market 2012-2016 - a new market research report on 2014-04-29 03:49:01
The Global Mobile Music Accessories market is to grow at a CAGR of 12.55 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing number of technological advancement and innovations. The Global Mobile Music Accessories market has also been witnessing partnerships between mobile device manufacturers and music accessories manufacturers. However, the increased number of counterfeit products could pose a challenge to the growth of this market.

One of the key trends currently being witnessed in the Global Mobile Music Accessories market is the increasing partnerships with mobile phone manufacturers. With the growing demand for smartphones, the market is witnessing an increase in sales of mobile music accessories. The partnership between the smartphone manufacturer and mobile music accessories manufacturer enables vendors to provide accessories along with the smartphones. For instance, HTC Corp. has tied up with Beats by Dr. Dre for their accessories and internal speakers. Micromax has recently tied up with JBL for accessories for its latest Canvas series of smartphones. In the past, Nokia had a tie-up with Sennheiser for its Music Express series of mobile phones. This trend of partnering with the mobile phone manufacturer will drive the growth of the Global Mobile Music Accessories market.

One of the main drivers in this market is the increasing technological advancements and innovations. With the introduction of various technologies such as noise cancellation, SRS Wow effect, and extra bass, the market is witnessing a huge demand for the latest music accessories across the world.

One of the main challenges in this market is the availability of counterfeit products. In recent years, many lookalike counterfeit products have flooded the market, thereby eating into the market share of the leading market vendors. As a result, there has been a drastic decline in the sales of original music accessories.

The key vendors dominating this space include Beats Electronics LLC, Bose Corp. Sennheiser Electronic GmbH & Co. KG, Skullcandy Inc., and Sony Corp. The other vendors mentioned in the report are Creative technology Ltd., JBL Co., JVC KENWOOD Corp., Logitech International SA, Panasonic Corp., Parrot SA, and SOL REPUBLIC.

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