Hong Kong, one of the world’s leading financial centers has free market economy, very much dependent on international trade and finances. The country is characterised by its low taxation policy and well established financial market. In 2008, the global economic slowdown impacted the country to a large extent, due to its open economy policy. Despite the downturn, various government initiative taken towards trade and tourism initially has helped the economy to recover more quickly than many other had anticipated.
In 2012 and 2013, due to weaker economic environment, high penetration rate and price erosion directly affected the spending power of the consumer which led to decline in sales volume of mobile and tablets devices.
However, it remains the favorite segment for vendors and investors due to high income and tech-literate population. The development of various value-added applications and social networks, have marked huge shift in consumer behaviors, inducing more digitalized cultures, which has created robust demand for different types mobiles and tablets accessories in the region.
Today, consumers have started using smartphones/tablets to assist them in managing and improving their daily assignments. They want their devices to be protected and fully active (Charged). Depending on the needs and preferences, consumer customize their devices with different accessories. They are using smart accessories to increase the basic features of their mobile and tablet devices and enhance their activities in gaming, music and photography.
In coming years, high profit margins and growing tech literate population will drive the mobile and tablet accessories market in Hong Kong. Demand is expected to grow at a CAGR of XX.XX% to reach US $XX.XX million by 2020. The mobile and tablet accessories market is expected to grow at least as fast as that of mobile phones for the period.
Hong Kong holds immense opportunities for accessories due to a large potential and existing consumer base and huge adoption of smartphones and tablets. Increasing usage of smartphones and tablets in the region has enabled consumer to use them as a controller for other peripherals devices such as health monitors, toys, printers, home automation systems and others. Declining device prices, growing online retail market and the millennial populations are contributing to the growth to a large extent. Detachable screens, keyboard on covers and others such flexible and innovative options will also act as a catalyst for growth in demand for tablet accessories.
Increasing disposable incomes, technological innovations, rapid adoption of smartphones and tablets, changing consumer behavior, rising demand for different mobile Apps and the desire of consumers to be tech savvy, to stay connected with near and dear, are all factors pushing the demand for mobile and tablets. As these mobile purchases are still once in a while buys in Hong Kong, people in order to protect their mobiles and tablet splurge on accessories. Particularly, it is the status conscious customers and those who use mobiles as a fashion accessory that driving the accessories market.
Hong Kong Mobile and Tablet Accessories Market has been segmented into Safety Cases, Scratch Guard, Bluetooth, Desk stands, Wired and Wireless Chargers, Wired and Wireless Keyboards, Power Bank and others. Rapid innovations in wireless chargers with dust-proof, scratch-resistant and water-resistant screen guards will further drive the growth of the market.
The report focuses on Mobile and Tablet Accessories ?Macro-Economic Outlook’
The report covers different Market Entry Strategies with Regulatory Environment/Government Regulations/ Economic conditions of ?Mobile and Tablet Accessories Market’ in Hong Kong
Current Scenario: What is the present scenario?
Market Benefits: Why to enter the Mobile and Tablet Accessories mark