Home accessories are electronic (analog or digital) equipment intended for everyday use, in homes. Home accessories can be categorized into small appliance or brown goods consumer electronics. These are generally equipped with special connections such as electrical or an inbuilt battery that helps in mobility of the appliances around the house. Small appliances are semi-portable or portable machines and are generally used on platforms such as counter-tops and table tops. Some of the small appliances are clocks, and speakers among others. Consumer electronic devices are used for entertainment, communications, and home-office activities, such as PCs, video game, recorder, and camera.
Increase in technological advancements, rapid urbanization, surge of the housing sector, rise in per capita income, improvement in standard of living, changes in consumer lifestyle, and escalation in number of smaller households are the key factors that drive the growth of the Japan home accessories market. In addition, inclination of consumers toward eco-friendly & energy-efficient appliances further boost the market growth. Moreover, factors such as government initiatives for energy-efficient appliances undertaken across various countries are expected to facilitate the adoption of energy efficient appliances in the recent years.
The report segments the market based on product, and distribution channel, the product segment includes pc, camera, video camera, video games, recorder, and other home accessories.
The distribution channel segment includes supermarket, specialty store, manufacturer store, and e-commerce company. The e-commerce distribution channel is expected to witness an exponential growth due to rise in penetration of internet & smart phones and growth of the e-commerce industry.
Key players profiled in the report include Hewlett-Packard (HP), Dell, Lenovo Group Limited (Lenovo), Sony Corporation (Sony), Canon Inc. (Sony), Nikon Corporation, Samsung Electronics Co, Sharp Corporation (Sharp), Panasonic Corporation (Panasonic), and Olympus Corporation.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Product
o PC
o Camera
o Video Camera
o Video Games
o Recorder
o Other Home Accessories
By Distribution Channel
o Supermarket
o Specialty Store
o Manufacturer Store
o E-Commerce Company
By Country
Increase in technological advancements, rapid urbanization, surge of the housing sector, rise in per capita income, improvement in standard of living, changes in consumer lifestyle, and escalation in number of smaller households are the key factors that drive the growth of the Japan home accessories market. In addition, inclination of consumers toward eco-friendly & energy-efficient appliances further boost the market growth. Moreover, factors such as government initiatives for energy-efficient appliances undertaken across various countries are expected to facilitate the adoption of energy efficient appliances in the recent years.
The report segments the market based on product, and distribution channel, the product segment includes pc, camera, video camera, video games, recorder, and other home accessories.
The distribution channel segment includes supermarket, specialty store, manufacturer store, and e-commerce company. The e-commerce distribution channel is expected to witness an exponential growth due to rise in penetration of internet & smart phones and growth of the e-commerce industry.
Key players profiled in the report include Hewlett-Packard (HP), Dell, Lenovo Group Limited (Lenovo), Sony Corporation (Sony), Canon Inc. (Sony), Nikon Corporation, Samsung Electronics Co, Sharp Corporation (Sharp), Panasonic Corporation (Panasonic), and Olympus Corporation.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the current home accessories market trends, estimations, and dynamics of the Japan home accessories market from 2018 to 2025 to identify the prevailing market opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the home accessories market segmentation assists to determine the prevailing home accessories market opportunities.
- Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as Japan home accessories market, key players, market segments, and growth strategies.
KEY MARKET SEGMENTS
By Product
o PC
o Camera
o Video Camera
o Video Games
o Recorder
o Other Home Accessories
By Distribution Channel
o Supermarket
o Specialty Store
o Manufacturer Store
o E-Commerce Company
By Country
- Japan
Table of Contents
CHAPTER 1:INTRODUCTION
CHAPTER 2:EXECUTIVE SUMMARY
CHAPTER 3:MARKET OVERVIEW
CHAPTER 4:JAPAN HOME ACCESSORIES MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 5:COMPANY PROFILES
Executive Summary
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 homeAccessories 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.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.
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.
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.
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.
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.
The major players in the industry have adopted strategies such as acquisition, partnership & agreement, merger, and geographical expansion to expand the Japan home accessories market share and increase profitability. The key players operating in the industry include Hewlett-Packard (HP), Dell, Lenovo Group Limited (Lenovo), Sony Corporation (Sony), Canon Inc. (Sony), Nikon Corporation, Samsung Electronics Co., Sharp Corporation (Sharp), Panasonic Corporation (Panasonic), and Olympus Corporation.
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%.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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