Pune, India, February 2021, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Car Phone Holders Market.
Global Car Phone Holders Market size is projected to be valued at USD 1,241.91 Million by 2027 and growing at a CAGR of 5.92% between 2020 and 2027. Demand for car phone holders is increasing at a rapid rate across the world for several associated benefits. With rising GPS reliability, car phone holders provide ease in using GPS for navigation without holding the phone. Car phone holders are attached to the windshield or dashboard to check routes or directions. Additionally, driving on the road requires concentration, and any small mistake may lead to potential life risks. Therefore, installing mobile phone holders helps eliminate the risk of distractions and accidents as consumers use mobile phones hands-free. These factors are expected to propel the global market growth during the forecast period. However, several local and private label brands offer inferior quality products at low cost. These products are less durable and do not hold mobile phones firmly. Therefore, the growing presence of private label brands aiding the unorganized market is expected to restrict the global car phone holders market growth during the years to come.
Moreover, due to the outbreak of covid-19, many manufacturing units in China and other countries have been closed. This has further created a gap in supply and demand, leading to a surge in the product price. However, key market players are focusing on product launches, such as smart car phone holders and innovative designs to boost the demand for car phone holders in the present scenario. Investments in the market are projected to significantly impact the car phone holders' market size during the forecast period.
Relatively low cost and convenient product usage
Growth Opportunities in the Market
Growing Demand for Smart Products and High Investments in R&D: Manufacturers invest in research and technology development to improve existing products and develop new products. Numerous research studies and analyses have been done in this field already. Smart car phone holders are packed with technologies. With passing years, market players have been developing new and innovative features to attract consumers and build a prominent position in the global market. Smart devices have been gaining considerable traction among consumers. For instance, market players such as Baku, a brand of Screen Guards India, and Macmerise offer smart car phone holders with built-in features such as auto open and closure of cradle, gravity sensors, and wireless car charging, among others. Also, market players such as Macally and Squish Mount offer headrest mounts for back seat passengers.
Non-Store-Based Distribution Channels Gaining Popularity Across the Globe: The non-store-based segment is projected to register a higher growth rate during the forecast period. Manufacturers of car phone holders are inclined towards non-store-based distribution channels for the extensive sales of their products. Companies are opting for online distribution platforms as they want to extend their consumer reach. Moreover, consumers have the ease of choosing the right product from an extensive list of similar products and a detailed description and product images captured from different angles for reference.
Access Report Details @ https://www.marketresearchfuture.com/reports/car-phone-holders-market-10423