Home Accessories Market in Japan to Reach $12.20 Bn, by 2025, at 3.4% CAGR, Says Allied Market Research
Growing infrastructure investment in residential sector along with surge in disposable income drive the growth of the Japan home accessories market. Furthermore, increase in urbanization supplements the market growth. The region of Asia-Pacific accounted for more than two-fifths of the Japan home accessories market in terms of revenue in 2017. Furthermore, the white Portland cement is estimated to project the fastest CAGR of 4.1% from 2018 to 2025
PORTLAND, Oregon, Aug. 15, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Japan Home Accessories Market by Product (PC, Camera, Video Camera, Video Games, Recorder, and Other Home Accessories) and Distribution Channel (Supermarket, Specialty Store, Manufacturer Store, and E-commerce Company): Opportunity Analysis and Industry Forecast, 2018-2025." According to the report, the Japan home accessories market generated $9.42 billion in 2017 and is estimated to garner $12.20 billion by 2025, growing at a CAGR of 3.4% from 2018 to 2025. The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario.
Surge in the urbanization along with growth in infrastructure investment in residential sector are the two major factors that drive the growth of the Japan home accessories market. Furthermore, rise in disposable income supplements the market growth. On the other hand, availability of counterfeit brands hampers the Japan home accessories market growth. However, increase in e-commerce sales and technological advancements provides lucrative opportunities in the Japan home accessories market forecast.
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The video games segment to maintain its leadership status by 2025
On the basis of the products, the segment is divided into PC, camera, video camera, video games, recorder, and other home accessories. The video games segment accounted for nearly one-third of the total market share in 2017 and is expected to maintain its dominance by 2025. This is due to the engagement of young people towards video games, easy availability of the video games on different devices such as personal computers, tablets, and laptops. In addition, decreasing cost of video game hardware coupled with easy availability of games is expected to fuel the video game market demand. However, the other home accessories segment is estimated to project the fastest CAGR of 6.7% from 2018 to 2025, owing to the increase in consumer readiness to invest on trending technologies and rise in usage of smart devices among the younger generation.
The specialty store real segment to maintain its dominance throughout the forecast period
On the basis of distribution, the segment is divided into supermarket real, specialty store real, manufacturer store, e-commerce company, and others. The specialty store held more than one-third of the total market share in 2017 and will maintain its dominance throughout the forecast period. This is due to the consumers preferability to analyze and evaluate the product before purchase, thereby boosting the retail sales of home accessories market through specialty store. Customers check the working of appliances in the stores and the type of accessories compatible with them. Therefore, specialty stores are projected to gain demand in the near future. However, the e-commerce company segment is estimated to register the highest CAGR of 4.5% from 2018 to 2025, owing to the rapid adoption of digital technologies and evolving shopping.
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Frontrunners of the industry
Leading market players analyzed in the research include Olympus Corporation, Hewlett-Packard (HP), Panasonic Corporation (Panasonic), Dell, Lenovo Group Limited (Lenovo), Sharp Corporation (Sharp), Sony Corporation (Sony), Samsung Electronics Co, Canon Inc. (Sony), and Nikon Corporation. They have adopted different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain a strong position in the industry.
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