Japan Home Accessories Market – AMR
An in-depth japan home accessories market analysis of the Japan home accessories market size helps determine the prevailing market opportunities.
PORTLAND, OREGON, UNITED STATES, November 18, 2023 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Japan Home Accessories Market by Product, and Distribution Channel: Opportunity Analysis and Industry Forecast, 2018-2025,” the Japan home accessories market size is valued at $9,425.7 million in 2017, and is expected to reach $12,203.5 million by 2025, growing at a CAGR of 3.4% from 2018 to 2025. The video games segment is expected to retain its dominant position, in terms of revenue generation, throughout the Japan home accessories market forecast period.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐓𝐡𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐅𝐫𝐞𝐞 𝐏𝐃𝐅 𝐎𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/request-sample/5384
The Japan home Accessories market is segmented based on product and distribution channel. Depending on product, the Japan home Accessories market is classified into pc, camera, video camera, video games, recorder, and other home accessories. Based on distribution channel, the market is divided into supermarket real, specialty store real, manufacturer store, and e-commerce company.
The selling price of the product, durability, product life & maintenance, and annual power consumption are the vital factors considered while purchasing home accessories in low to middle-income group. Thus, development of durable, energy-efficient home accessories at economic price is anticipated to increase the rate of penetration among low- and middle-income groups. Whereas in the high-income group segment, there is high demand for smart & connected equipment. Wireless technology, smartphones, and Internet of Things are becoming an integral part of every-day life in urban home accessories. Development of smart appliances is anticipated to improve the product replacement rate among consumers who are already using basic appliances. In addition, online retail platform is the major driver for the Japan home accessories industry. Presently, numerous retailers are associating or have their own web-based retail stores where consumers can gain information about the organization and their products. There is an increase in number of online shoppers, owing to availability of varied product options and price comparison on online shopping sites. This is useful for retailers due to zero expenditure on physical outlets or stores. One of the major reasons behind consumers preferring shopping online is that consumers can read reviews provided by other users, and compare various stores, products as well as prices by different sellers.
Manufacturers in the home accessories market are continuously developing products with enhanced functionality and features to remain competitive. Despite developing products with higher added value, the prices for the products have collapsed and thus, remained stagnant at a lower level for several years. The decrease in price was due to the pressure of competition from countries with low manufacturing costs. Manufacturers are also facing pressure related to margins owing to fierce competition in the Japan home accessories market. This price fall is forcing companies to develop innovative products. This decrease in price trend of home accessories is encouraging customers to purchase the products, which in turn can drive the Japan home accessories market. Reducing prices of home accessories positively impact the Japan home accessories market growth. According to the United Nations, a large part of the world is currently undergoing urbanization. Nearly 54.8% of the world’s population presently lives in urban areas. Growth in urbanization has resulted in the change in lifestyle of individuals. Increase in number of nuclear families also boosts the demand for home accessories. High price and remarkable popularity of home accessories brands have led to the advent of counterfeit brands. Counterfeit brands are generally prevalent in areas where consumers are highly price-sensitive. This factor restricts the sale of the existing original home Accessories brands in the Japan market. On the contrary, development of durable, energy-efficient home accessories at economic price is anticipated to increase the rate of penetration among low- and middle-income groups.
Video games segment generated the highest revenue and is expected to witness a CAGR of 2.8% during the forecast period. Easy availability of the video games on different devices such as personal computers, tablets, and laptops, are expected to drive the video game market. Growing number of internet or social game players may further augment the market. Decreasing cost of video game hardware coupled with easy availability of games is expected to fuel the video game demand. In addition, a number of consumers these days prefer cross-functional devices that offer integrated features and capabilities in the same device. This has encouraged the development of multifunctional devices. Computers offer extensive diversity in their application areas, ranging from business and education to entertainment. In addition, rise in spread of computer knowledge through various government institutes helps in creating more demand for PCs in the Japan market.
𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/5384
Rapid growth in the real estate sector in Japan due to direct foreign investment is anticipated to help in developing smart cities, and settlement, thereby, contributing toward the growth of the home accessories market. . Rise in the construction sector is projected to positively influence the demand for home accessories. Also, growing number of single occupant households; for instance, students living away from home or transferees who have moved out of the family home because of temporary job changes. Hence the single occupant lifestyle pattern is expected to directly lead to increase in demand for accessories, and thus contribute toward the market growth.
𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐉𝐚𝐩𝐚𝐧 𝐇𝐨𝐦𝐞 𝐀𝐜𝐜𝐞𝐬𝐬𝐨𝐫𝐢𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 :
• By product type, the PCs segment is expected to grow at a CAGR of 2.7% in terms of revenue from 2018 to 2025.
• By product type, the camera segment is expected to grow at a CAGR of 5.9% in terms of revenue from 2018 to 2025.
• By product type, the video camera segment is expected to grow at a CAGR of 4.3% in terms of revenue from 2018 to 2025.
• By product type, the video games segment is expected to grow at a CAGR of 2.8% in terms of revenue from 2018 to 2025.
• By distribution channel, the specialty store real segment is expected to lead the Japan home accessories market at a CAGR of 2.8%.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (260 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) @ https://www.alliedmarketresearch.com/checkout-final/392a445560e1035d49692a872430dde4
𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :
LENOVO GROUP LIMITED
SAMSUNG ELECTRONICS CO
According to house and land statistics survey in Japan, in 2013 there were 49,600,000 houses out of which 30,310,000, i.e. 61.12%, were owned properties. This has led to increase in sales of home accessories such as PC, recorder, clock, and other accessories, in the Japan market.
𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :
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Smart Locks Market Report https://www.alliedmarketresearch.com/smart-locks-market
Refrigerator Market Report https://www.alliedmarketresearch.com/refrigerator-market-A78126
𝐀𝐛𝐨𝐮𝐭 𝐔𝐬 :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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