Mobile phone accessories such as chargers, power banks, headphones, memory
cards, and protective cases see increasing demand owing to the rising sales of
smartphones in India. With more people adopting smartphones for various tasks
like communication, mobile payments, online shopping, and entertainment, the
need for accessories to complement smartphone usage has also grown
substantially. Smartphone users require multiple chargers, headphones, and
portable power banks to charge devices on the go. Furthermore, protective cases
and screen guards help protect expensive smartphones from damage, thereby
driving their sales. The growing mobile gaming trend has also boosted the sales
of headphones and external speakers. The inexpensive pricing of mobile phone
accessories in India compared to smartphones further propels their market
growth.
India Mobile Phone Accessories Market is estimated to
be valued at US$ 133.1 Mn in 2024 and is expected to exhibit a CAGR of 5.8%
over the forecast period 2024 to 2031
Key Takeaways
Key players operating in the India mobile phone accessories market are AbbVie
Inc., Ablynx NV by Sanofi SA, Arrowhead Pharmaceuticals, Inc., Baxter
International Inc., AstraZeneca PLC, Boston Scientific Corporation, Becton,
Depomed, Inc., Fraunhofer Gesellschaft Munchen, Janssen Global Services, LLC.,
Luye Pharma Group, Pfizer Inc., Quark Pharmaceuticals Inc., Rexahn
Pharmaceuticals Inc., Savara Inc., Roche Holding AG, Suda Limited, Vectura
Group PLC, Taiwan Liposome Company, Ltd., and 3M Company.
The India
Mobile Phone Accessories Market growth sees many growth opportunities
owing to the rising digitalization and increasing spending power of the growing
middle class. As people spend more time online, the demand for headphones,
portable speakers, and power banks will increase substantially. Moreover, the
online retailing boom in India allows consumers easier access to a wide range
of mobile accessories at competitive prices.
Indian mobile phone accessories companies are also actively looking to expand
globally. With the "Make in India" initiative and favorable policies
for electronics manufacturing, Indian firms can leverage their low-cost
manufacturing capabilities to grab a larger share of the global mobile
accessories export market. Companies like Sunflame, BPL, Intex, and Zebronics
are focusing on exports to countries in Latin America, Africa, and the Middle
East.
Market Drivers
The increasing sales of smartphones, especially in the mid-range and affordable
segments, is a key growth driver for the India
Mobile Phone Accessories Market Size and Trends.
Rising internet and smartphone penetration coupled with the launch of low-cost
4G handsets are propelling smartphone adoption in India. As people use smartphones
for a variety of tasks, the need for complementary accessories also rises.
Technological advancements are another crucial growth driver. With the advent
of fast charging technologies, high-capacity batteries, and wireless
capabilities, mobile accessories now offer more utility and performance.
Features like magnetic charging ports, quick charging, and superior sound
quality in headphones and earphones encourage more frequent upgrades and
purchases.
Market Restraints
Availability of low-quality counterfeit products poses a major challenge for
established brands in the India mobile phone accessories industry. Pricing
pressure due to intense competition and presence of local players also
adversely impact revenues of top companies. Strict quality regulations and
increased buyers' preference for genuine products further restrain the sales of
fake accessories in the market.
Segment Analysis
Power banks segment dominates the Indian mobile phone accessories market.
The high dependency of consumer on mobile phones for various activities coupled
with the trend of owning high end smartphones with non-removable batteries has
increased the demand for power banks in the country. Power banks allows users
to charge their phones multiple times on the go. This provides convenience to
users who are increasingly using their phones for longer duration. Other
popular segments include earphones, chargers, casing/covers, and memory cards.
Global Analysis
The Asia Pacific region dominates the global mobile phone accessories
market with India being one of the largest contributor. Increased availability
of affordable smartphones along with falling data prices has boosted mobile
phone adoption in India. The growing mobile phone user base coupled with rising
willingness to purchase compatible accessories is driving the growth of the
accessories market in India. The regional market is projected to witness the
fastest growth during the forecast period supported by rising purchasing power
of the expanding middle class population.
For More Insights Discover the Report In language that
Resonates with you
About Author:
Priya Pandey is a dynamic and passionate editor with over
three years of expertise in content editing and proofreading. Holding a
bachelor's degree in biotechnology, Priya has a knack for making the content
engaging. Her diverse portfolio includes editing documents across different
industries, including food and beverages, information and technology,
healthcare, chemical and materials, etc. Priya's meticulous attention to detail
and commitment to excellence make her an invaluable asset in the world of
content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)
Comments
0 comment