by 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:
The India mobile phone accessories market comprises products such as protective case, screen guards, earphones, chargers, cables, power banks and others. Protective covers are protective shells or casing to provide a barrier between mobile device and external elements and to prevent damages from shocks, scratches, and dust. Screen guards or screen protectors are thin film that covers and affords protection to mobile display. Earphones and chargers are basic necessities along with a mobile phone. Power banks are portable chargers used to charge mobile phones when an outlet is not available.
Market Dynamics:
As per the Internet and Mobile Association of India (IAMAI) and Nielsen report, the number of active internet users in India is expected to reach 829 million by 2022 from 622 million in 2017 growing at a CAGR of 9%. This rapid growth in internet and smartphone penetration drives the demand for mobile phone accessories market in India.
Growing organized retail: Organized retail sector offers wide range of authentic products variety across brands and price points. Availability of mobile accessories across all retail outlets and e-commerce websites boost the sales volume in India. Growth in e-commerce sector is also fueling demand for mobile accessories in India. Rising consumer awareness regarding new technologies and feature enriched accessories also drives the India mobile phone accessories market
Segment Analysis
India mobile phone accessories market Size is dominated by the protective cases segment. This segment accounts for over 35% of the overall market share due to high demand for screen protection and aesthetic covers among Indian consumers. Protective cases extend the life of expensive smartphones and are available in different designs, patterns and materials to suit various consumer tastes.
PEST Analysis
Political: The Government of India has implemented favorable policies like ‘Make in India’ and tax rebates to encourage local manufacturing of mobile accessories. This has boosted domestic production.
Economic: Rising disposable income and growing middle class consumer base in India is driving demand for premium smartphones and advanced accessories. The aspirational youth are early adopters of new technologies.
Social: Increasing digitalization and smartphone penetration has made mobile devices an integral part of social lives and connectivity. Mobile accessories enhance features and fulfill social media needs of consumers.
Technological: Rapid innovation in mobile technologies along with changing smartphone trends influence purchase of new compatible accessories on a regular basis. 5G roll out will further fuel upgrades.
Key Takeaways
The India mobile phone accessories market is expected to witness high growth, exhibiting a CAGR of 9.7% over the forecast period, due to increasing disposable incomes and growing proliferation of premium smartphones in India
Regional analysis:
Southern region dominates India’s mobile phone accessories market with over 30% share due to concentration of major domestic manufacturers. Western region follows with a share of 25% on account of heavy smartphone adoption in states like Maharashtra and Gujarat.
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. Apple is the leader due to its large and loyal consumer base while other domestic and Chinese brands also have significant presence catering to local price sensitivities.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
