Albany, New York, October 3, 2017: The global selfie accessories market is likely to grow at a high double-digit CAGR and surpass US$ 6.3 bn by revenues during the forecast period 2017-2025, according to a new report added to the database of Market Research Reports Search Engine (MRRSE). The report titled “Selfie Accessories Market: Global Industry Analysis and Forecast (2017-2025)” offers a comprehensive analysis on how the market will shape during the forecast period.
According to the report, increasing proliferation of smartphones is the most important factor for the growth of the global selfie accessories market. Smart manufacturers have realized the growing popularity of selfie feature, with entire ranges of smartphones being launched to cater to this segment. Among the various USPs of selling a smartphone, manufacturers are heavily relying on high-res selfie cameras, signifying an important shift from primary to secondary camera. Manufacturers are merely following market trends, which currently is being driven by consumers looking for high-res, flash-light selfie cameras. These factors are an indicator of the growing popularity of selfies, and selfie accessory manufacturers are following on these developments. Considered as a highly fragmented market, this sector is still years away from standardization; however, in terms of opportunity, the market remains attractive for existing and new entrants.
Consumer craze for taking seamless selfies remains the key driving factor that is fuelling demand for selfie accessories. Due to the limitation of the human arm, group photos are often difficult to click through a selfie camera. Also, when clicking selfies without the use of an accessory, such as the selfie stick, the background often gets muted with emphasis mainly on a person’s face. This creates challenges for travelers who are looking to click memorable photographs in the backdrop of historical monuments and landmarks. Through the use of selfie sticks, these challenges can be mitigated to a certain extent. According to the report, among all the selfie accessories, including sticks, light, drones, remote shutter, and clip-ons, selfie sticks account for the largest revenue share. The selfie sticks segment is projected to surpass US$ 2.5 bn in revenues by the end of 2025, growing at over 16% CAGR.
Selfie sticks are compatible with both Android and iOS phones; however, owing to higher sales of Android phones, demand for selfie sticks from Android users is higher. According to the report, by compatibility mode, the Android segment is likely to grow at nearly 17% CAGR throughout the forecast period, accounting for nearly US$ 4.5 bn in revenues.
Sales of selfie accessories have grown tremendously through online channels, and the trend is likely to remain so throughout the forecast period as well. The report projects global sales of selfie accessories through online channels to reach US$ 3.8 bn through 2025.
APAC remains the largest market for selfie accessories during the forecast period. According to the report, the selfie accessories market in APAC is likely to grow at nearly 17% CAGR during the forecast period, and account for a sizeable share of the global market.
Browse Full Global Selfie Accessories Market Report with TOC : https://www.mrrse.com/selfie-accessories-market
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