Market Overview:
The India mobile phone accessories market caters to a wide range of accessories that enhance smartphone usage. Key accessories include protective cases, screen protectors, power banks, wired and wireless headphones, chargers and cables. These accessories extend battery life, protect phones from damage and enable uninterrupted usage on the go.
Market Dynamics:
Rising smartphone adoption: India has witnessed robust growth in smartphone shipments, emerging as the second largest smartphone market globally. Increased smartphone penetration has fueled the demand for complementary accessories that enhance usability.
E-commerce boom: The growth of e-commerce platforms in India has made mobile accessories more accessible to consumers across the country. Several online retailers offer a wide selection of accessories from prominent brands at competitive prices, driving market revenues.
Market key trends:
The India mobile phone accessories market has been witnessing high growth in recent years. One of the key trends witnessed is the growing demand for power banks due to the increasing usage of phones and other devices requiring frequent charging. Power banks have become indispensable for users who are constantly on the move and require extended battery life. Their compact sizes allow users to carry them easily.
SWOT Analysis
Strength: Growing tech-savvy population and high adoption of smartphones in India provide a huge potential market for mobile accessories.
Weakness: Piracy and availability of low-quality counterfeit products pose a challenge.
Opportunity: Launch of innovative accessories such as wireless chargers, smart bands, and smartwatches present an opportunity for growth.
Threats: Strong competition from local and Chinese manufacturers can squeeze profit margins. Trade wars and regulations can impact import of accessories.
Key Takeaways
The India Mobile Phone Accessories Market Share size was valued at US$ 2,238.4 Mn in 2022. The market is estimated to grow at a CAGR of 9.72% during the forecast period. The growth is attributed to rapid urbanization, rising disposable incomes, and increasing internet and smartphone penetration in the country.
Regionally, South India dominates the India mobile phone accessories market currently. States like Tamil Nadu, Kerala, and Karnataka have witnessed high adoption of smartphones due to factors such as high literacy rates and availability of low-cost Chinese brands. North India is also expected to exhibit significant growth during 2022-2030.
Key players operating in the India mobile phone accessories market are Kingston Technology Corporation, Apple Inc., SanDisk Corp., Samsung Electronics Co. Ltd., Skullcandy, Inc., Microsoft Corporation, Sony Corp., Capdase International Limited, and Moshi, by Aevoe Group. These players are launching innovative product lines to cater tochanging consumer preferences in order to strengthen their foothold in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it