by Mobile phone accessories include protective covers, chargers, headphones, memory cards, portable speakers, power banks and cables that can enhance the functionality of smartphones. The growing popularity of smartphones and increasing disposable incomes have boosted the sales of mobile phone accessories in India. Protective covers and chargers continue to be the most sold accessories owing to the need to protect expensive smartphones from damage and the need to charge phones on a daily basis. The Indian mobile phone accessories market offers a wide range of products from various brands at competitive prices, encouraging consumers to purchase multiple accessories for their smartphones.
The global 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 9.72%over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The demand for mobile phone accessories is being driven by the increasing sales of smartphones in India. Rising internet and smartphone penetration along with the launch of affordable smartphones by Chinese brands are boosting smartphone adoption. It is estimated that over 85% of Indians now own a smartphone. As Indians upgrade to high-end smartphones, the demand and consumption of phone accessories such as protective cases, chargers and headphones is rising exponentially. The market is witnessing the launch of innovative accessories supporting new technologies in smartphones. For example, wireless chargers and headphones with active noise cancellation features are gaining popularity among urban smartphone users. Leading mobile phone brands are bundling chargers and earphones with affordable smartphones to boost sales, further fuelling market growth.
SWOT Analysis
Strength: The India mobile phone accessories market is driven by rising internet penetration, increasing smartphone adoption and growing demand for value added services.
Weakness: Frequent changes in technology and customer preferences leads to high inventory costs for manufacturers and retailers.
Opportunity: Growth in e-commerce sector has opened new opportunities for marketing and selling of mobile phone accessories online.
Threats: intense competition from local and international brands poses pricing pressure on established players. Fluctuations in foreign exchange rates also impact the costs.
Key Takeaways
The Global India Mobile Phone Accessories Market Size is expected to witness high growth over the forecast period. Mobile phone accessories like power banks, headphones, protective covers, memory cards, chargers and cables see strong demand in the country. The global 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 9.72%over the forecast period 2023 to 2030.
Regional analysis: The western region accounts for the largest share in the India mobile phone accessories market currently. States like Maharashtra, Gujarat and Delhi NCR are major revenue generators. The southern region is growing at a fast pace led by adoption of 4G smartphones in states like Tamil Nadu, Karnataka and Telangana.
Key players: Key players operating in the India mobile phone accessories market are Graphic Packaging International, Dart Container Corporation, Konie Cups International Inc., Huhtamaki OYJ, Kap Cones Private Limited, Eco-products Inc. (Waddington North America), Phoenix Packaging Operations LLC, Detmold Group, Benders Paper Cups, Georgia Pacific LLC (Koch Industries Inc.), Go-Pak UK Ltd, and Genpak LLC (Great Pacific Enterprises Inc.).
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
