The India Mobile Phone Accessories Market is estimated to be valued at US$ 2455.97 Bn in 2023 and is expected to exhibit a CAGR of 9.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Power banks, headphones, chargers, protective cases, and memory cards are some of the commonly used mobile phone accessories. They provide additional functionalities, protection, extended battery life and convenience to mobile phone users.
Market key trends:
One of the key trendsdriving the growth of the India mobile phone accessories market is the increasing preference of consumers towards premium and high-tech accessories like wireless headphones, fast charging devices and wireless chargers. Consumers are willing to spend more on technologically advanced accessories that provide enhanced features and functionalities. For instance, the demand for wireless headphones and earphones is increasing significantly owing to their convenience of wireless connectivity with smartphones without any wires. Additionally, rising health awareness has also fuelled the demand for wireless headphones which do not emit any kind of radiation as compared to wired earphones and headphones.
Market Key Trends:
India mobile phone accessories market Size has been witnessing rising demand for wireless headphones and earphones. The increasing usage of smartphones and online streaming services have propelled the demand for wireless headphones and earphones that offer good sound quality and convenience of wireless connectivity. Moreover, the increasing health awareness among consumers regarding the ill-effects of long-term usage of wired headphones is further propelling the market for wireless headphones and earphones in India.
SWOT Analysis
Strengths: India has a large domestic market for mobile phones with growing disposable income. Also, availability of low-cost accessories strengthens the market.
Weaknesses: Presence of cheap clones and availability of pirated products affects established brands. High import duties on certain components also impact overall market growth.
Opportunities: Growing e-commerce industry offers opportunities for online sales. Rising Rural demand also opens new opportunities.
Threats: Slowdown in economy impacts discretionary spending. Intense competition from Chinese manufacturers poses pricing challenges.
Key Takeaways
The India mobile phone accessories market is expected to witness high growth, exhibiting CAGR of 9.7% over the forecast period, due to increasing smartphone penetration. In 2023, the market size for India mobile phone accessories stood at US$ 2455.97 Bn.
Regional analysis: Southern region dominates the India mobile phone accessories market due to rising disposable incomes. States like Tamil Nadu and Karnataka are major contributors to the Southern region’s market share.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
