GCC AND LEVANT ELECTRONICS ACCESSORIES MARKET ANALYSIS

Market Challenges And Opportunities

GCC and Levant Electronics Accessories Market Drivers :

Rising proliferation

Rising proliferation of connected devices is expected to drive the growth of the GCC and Levant electronics accessories market. GCC and Levant countries are witnessing technological advancements across the value chain. The development of new solutions for computing, social networking, and mobility is anticipated to support the growth of the market in the region. This has led to consumer inclination towards connected mobile devices such as tablets and smartphones. With the increasing proliferation of these devices, demand for accessories such as headphones, power banks, and others is expected to increase significantly over the next five to six years.

Rising disposable income

Rising disposable income leading to changing consumer buying patterns is expected to propel the GCC and Levant electronics accessories market growth over the forecast period. Increasing disposable income has significantly changed the buying patterns of consumers across the region. These consumers are more inclined toward online retail, especially from UAE, KSA, Kuwait, Bahrain, and Turkey. Furthermore, the high growth of telecommunications infrastructure in the aforementioned countries is expected to propel the GCC and Levant electronics accessories market growth over the forecast period.

GCC and Levant Electronics Accessories Market Opportunities:

Rising number of wealthy consumers

Rising number of wealthy consumers can present major business opportunities. Although inequality in terms of per capita income is a major challenge, affluent customers provide major growth opportunities for market players. While adoption rates for electronic accessories are low as compared to that in other regions, high-end electronic devices and accessories are gaining traction in the countries such as UAE and KSA. Factors such as increasing mobile-cellular telephone subscriptions, expanding ICT infrastructure, and rising internet penetration in certain GCC and Levant countries are anticipated to subsequently drive demand for electronic devices.

Growing use of automotive infotainment accessories

Growing use of automotive infotainment accessories can provide major growth opportunities. Factors such as increasing mobile and Internet penetration and the growing emerging middle-class population in GCC countries These factors combine to drive the growth of various sectors such as automobiles, consumer electronics and consumer goods across the region.For instance, in the Middle East region, rising Internet penetration has led to an expansion of mobile and online user base, which has resulted in advanced shopping options for products such as automotive infotainment accessories, computer peripherals, and mobile accessories.

GCC and Levant Electronics Accessories Market Restraints:

Lack of standardization

Lack of standardization in terms of products is expected to restrain the growth of the GCC and Levant electronics accessories market during the forecast period. The consumer electronic devices market in the region is highly unorganized, with a lack of effective regulations regarding the standardization of these products. Undefined standards in the market lead to high product and price differentiation, which may hinder the growth of the consumer electronics market to some extent.

Rising dominance of Chinese products is expected to hinder the GCC and Levant electronics accessories market growth over the forecast period. There has been an increasing presence of Chinese products. These products are easily available and have a low cost. However, this is adversely affecting the profit margins of local and global players in the region due to intense price wars.