India Mobile Phone Accessories Market was valued at US$ 2,238.4 Mn in 2022 and is expected to reach US$ 4,699.8 Mn by 2030, exhibiting a CAGR of 9.72% during the forecast period (2023-2030).
According to India Mobile Phone Accessories Market Report, By product type (Protective Case, Headphone/Earphone, Charger, Battery, Memory Card, Power Bank, Portable Speakers, and Others), By Distribution Channel (Multi-brand Store, Organized Store, Independent Store, and Single-brand Store), By Price Range (Low Price, Mid-Price, and Premium Price), and By Geography (North India, South India, East India, West India) as published by coherent market insights.
Mobile phone accessories include hardware that is an integral part of the operation of a mobile smartphone as designed by the manufacturer. Mobile phone accessories include various devices including cases, anti-lost devices, mass storage, phone charms, headphones, earphones, HDMI (High-Definition Multimedia Interface) projectors, selfie sticks, photo accessories, chargers, power banks, and others.
India Mobile Phone Accessories Market- Drivers
Rising Consumer Expenditure on Internet Service
Rising consumer expenditure on internet service in India has increased demand for mobile phone accessories. Rising disposable income across the country is increasing expenditure on premium mobile phone accessories including high-end earphones, headphones, power banks, high capacity memory storage devices, selfie sticks, and others. Furthermore, people spending on internet based businesses such as online edtech, grocery and food, and e-healthcare is expected to drive the market growth during the forecast period.
India Mobile Phone Accessories Market- Opportunities
Growing Adoption of Smart Phones
Growing adoption of mobile phones, owing to advance features and functionalities such as remote controlling appliances, voice control intelligence, large touch screens, easy control volume buttons, and others. Usage of mobile leads to need of extra accessories such as headphones/earphones. Furthermore, the display screen and fragile frame of mobiles create need to purchase screen guards as well as protective case. These protective accessories are manufactured in terms of design and quality to attract consumers.
India Mobile Phone Accessories Market--Restraints
Poor Economic Conditions
Economic conditions in some parts of India are relatively poor, where a large portion of middle-class spends a significantly small amount each day. People often prefer purchasing mobile phones that are cheaper, and find the accessories that come with mobile phones such as chargers, batteries, headphones, and others. Furthermore, issues regarding affordability and low awareness about different brands and products are expected to hamper the India mobile phone accessories market growth in the near future.
India Mobile Phone Accessories Market- Impact of Coronavirus (Covid-19) Pandemic
According to the latest report by Canalys, a technology market analyst firm, global smartphone deliveries reached 348.0 Mn units, at a 1% decline YOY (Year on Year) in Q3 2020. Sales of mobile phones have been impacted by the COVID-19 pandemic, and the first quarter of 2020 experienced the biggest decline in deliveries with a drop of 272 million units, down 13% from Q4 of 2019. So, if the decline in the sales of mobile phones impact on the requirement on mobile phone accessories in COVID-19 pandemic. During COVID-19 pandemic, Oppo, Vivo, Samsung, Realme, and others mobile phone companies have closed their manufacturing plants in India, and have delayed upcoming smartphone launches. Furthermore, major key players such as Flipkart and Amazon are no longer providing products which are non-essential, so the online channel is also impacted.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/india-mobile-phone-accessories-market-4729
Key Takeaways:
India mobile phone accessories market was valued at US$ 2,238.4 Mn in 2022 and is estimated to reach US$ 4,699.8 Mn by 2030, exhibiting a CAGR of 9.72% between 2023 and 2030.
Protective case segment held the dominant position in the India mobile phone accessories market in 2022, accounting for 21.1% share, in terms of value, owing to increasing approval and launch of new products.
India Mobile Phone Accessories Market Trends:
Increasing Popularity of Turbochargers among Consumers
Consumers in different parts of India are focused on adopting turbochargers. These chargers can charge a mobile device at a faster rate of speed. Furthermore, wireless chargers are expected to gain popularity in India over the forecast period, owing to convenience it offers over wired chargers. Mobile phones that are built with Snapdragon processors are provided by Qualcomm Inc., support turbocharging and are gaining popularity amongst consumers in India.
Rising Preference for Multiband Stores
Consumers are inclined towards stores that offer products from multiple brands at one place, as it makes it possible to compare products, appearance, features, and pricing, on the spot. Purchasing mobile accessories from organized multi-brand stores is an emerging trend in India. Popular multi-brand retail stores selling mobile phone accessories includes Croma by Tata Sons Limited and Reliance Digital by Reliance Industries Limited.
Premium and Mix-Priced Mobile Phone Accessories
India’s population prefers purchasing low and medium-cost mobile phone accessories than premium mobile phone accessories. However, consumers are realizing that low cost mobile phone accessories are of low quality and hence, have a shorter life.
India Mobile Phone Accessories Market- Competitive Landscape
Key players involved 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.
India Mobile Phone Accessories Market- Recent Developments
In April 2021, Realme, a China- based smartphone manufacturing company, launched Cobble Bluetooth Speaker, the company’s first portable Bluetooth speaker with Bluetooth 5.0 connectivity option
In June 2021, Sony Corporation, a Japan- based consumer electronics company, launched SRS-XB13 Extra Bass Portable Wireless Speaker with Bluetooth connectivity and IP67 (Internet Protocol) dust and water resistance
In April 2021, Apple Inc., a U.S.- based technology company, launched Apple MagSafe Battery Pack, a wireless power bank for Apple iPhone 12 series
