The craze for the ubiquitous selfie is a boon for manufacturers of selfie accessories who are laughing their way to the bank. According to a recent market study by Persistence Market Research, the global selfie accessories market is anticipated to reach a market valuation of US$ 6,371 Mn by the end of 2025, up from US$ 1,963 Mn by 2017 end. This represents a compound annual growth rate of 15.9% over the eight year period of study 2017 – 2025. Persistence Market Research analyzes this significant market growth and studies the various factors that are responsible for the surge in demand for selfie accessories in the global market in a new report titled “Selfie Accessories Market: Global Industry Analysis and Forecast (2017 – 2025).”
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Factors Fueling Global Market Demand for Selfie Accessories
Some of the main factors responsible for the growing demand for selfie accessories include –
- Increasing applications of self-pictures used in buying insurance and also in other fields that necessitate the use of pictures
- A rapidly growing use of selfie accessories in events such as weddings, birthdays, parties, etc.
- Growing proliferation of social networking, leading to increasing consumer preference for posting selfies on social media sites such as Facebook and Instagram
- A growth in the travel and tourism industry that makes clicking photographs including selfies a mandatory aspect of the holiday; and hence demonstrating a great need for selfie accessories
- The general public craze to click selfies at almost every occasion in life
- Innovation in selfie accessories including the supported technology and hardware
- An increasing disposable income that makes it easier for people to invest in smartphones and smart devices, thereby facilitating the ease of taking selfies
- A rapid rise in demand for photography and videography besides a growing demand for smartphones leading to an increased demand for selfie accessories
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Global Selfie Accessories Market: Segmentation & Forecast
The global selfie accessories market is segmented on the basis of Product Type into Selfie Sticks, Selfie Light, Selfie Drones, Selfie Remote Shutter, and Clip-on Camera. Selfie Sticks is the largest segment in terms of revenue generation in the global market, and is anticipated to reach a market valuation of US$ 2,524 Mn by the end of the forecast period in 2025. This segment will record a CAGR of 16.0% during the period of study.
The global selfie accessories market is segmented on the basis of Compatibility into Andriod and iOS. Android is the largest segment in this category, estimated to be valued at US$ 4,469.2 Mn by the end of 2025 with a CAGR of 16.9%.
On the basis of Sales Channel, the global selfie accessories market is segmented into Online Stores and Offline Stores. Persistence Market Research analysis points to Online Stores being the most preferred channel for the purchase of selfie accessories, with a segmental revenue contribution of US$ 3,827.0 Mn by the end of the forecast period in 2025.
Persistence Market Research tracks the performance of the global selfie accessories market across the key Regions of North America, Latin America, Europe, Asia Pacific, and MEA. Asia Pacific is the largest market for selfie accessories in the global market, expected to be valued at US$ 683.9 Mn in 2017 and projected to reach a market valuation of US$ 2,365.9 Mn by 2025 end, representing a CAGR of 16.8% from 2017 to 2025. North America is the second largest regional market, with revenue expected to increase from US$ 517.9 Mn in 2017 to US$ 1,780.9 Mn by 2025 end, representing a CAGR of 16.7% from 2017 to 2025.
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