India's $3.2 Bn Mobile Accessories Market, Competition, Forecast & Opportunities, 2028F

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Nov 28, 2023, 12:00 ET

DUBLIN, Nov. 28, 2023 /PRNewswire/ -- The "India Mobile Accessories Market Competition Forecast & Opportunities, 2028" report has been added to ResearchAndMarkets.com's offering.

India's mobile accessories market is projected to reach a value of $3.2 billion by 2028 from $2 billion in 2022, growing at a CAGR of 8.5%

This growth is primarily fueled by the escalating number of smartphone users, increasing internet penetration, and continuous product innovation.

In the context of mobile phones, any hardware that isn't an integral part of the phone's body is categorized as a mobile accessory. These accessories are often acquired for purposes of safeguarding mobile devices and optimizing their functionality. They contribute to enhancing usability, efficiency, and aesthetic appeal.

With trends like the expanding urban population and the proliferation of e-commerce, the market for mobile phone accessories in India is expected to flourish over the forecasted timeframe. For instance, the urban population in India reached around 400 million in 2021, making metropolitan areas prime hubs for accessory purchases.

Furthermore, the market is being driven by the growing number of social network users. In 2020, India had an estimated 500 million social network users, a number projected to exceed 1 billion by 2040. As user engagement increases, so does the rate of product advertisements on social platforms, thereby propelling the industry's rapid growth. Additionally, the market is expanding thanks to the widespread acceptance of online shopping.

Market Growth Driven by Unique and Stylish Protective Cases

A significant trend in the Indian market is the increasing demand for stylish protective cases, particularly among urban consumers. Fashionable protective cases have become a focal point for many businesses, catering to the fashion-conscious Indian consumers.

This surge in demand has prompted Indian fashion brands to offer fashionable protective cases. For instance, Samsung Electronics Co. Ltd. introduced innovative protective covers featuring LED displays and slots for cards or cash storage. The LED display functions to alert users about messages, calls, and the time.

Increasing Smartphone Penetration as a Growth Driver

With more than 1.2 billion mobile phone users and 600 million smartphone users in 2022, according to the Ministry of Information and Broadcasting, the widespread adoption of smartphones is a key growth driver. Smartphones have become versatile utilities for various daily tasks, from alarms to remote appliance control.

Their entertainment and media functionalities, such as large touch displays, speakers, voice control, and more, add value to the market. Consequently, smartphones have essentially replaced laptops, cameras, and other devices.

Market Growth Impeded by Lack of Standardization

A significant hurdle for the global mobile accessories market is the absence of standardized technologies and components. The lack of clear market standards for mobile accessories leads to significant pricing variations and product differentiation, hindering market expansion.

Strong Distribution Channels Boosting Market Prospects

The presence of robust distribution networks, including multi-brand stores and online retailers specializing in mobile phones and accessories, is projected to significantly boost the expansion of the Indian mobile accessories market. This is particularly evident as middle-class and lower-income consumers are drawn to accessory purchases due to decreasing average selling prices.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India mobile accessories market.

Apple India Private Limited
Samsung India Electronics Pvt. Ltd.
Xiaomi Technology India Private Limited
Imagine Marketing Limited (boat)
Sony India Private Limited
Intex Technologies (India) Ltd.
Philips India Limited
Bose Corporation India Private Limited
Portronics Digital Private Limited
Belkin India Pvt Ltd.

Market Dynamics

Drivers

Increasing Smartphone Penetration
Rising Number of Online Stores
Growing Influence from social media

Market Trends & Developments

Technologically Advanced Mobile Accessories
Integration of Memory Card Slots in Charging Cables
Rising Sales of Power Banks
Increasing R&D Investments
Enhanced Mobile Screen Protectors

Challenges

Pirated Products
Lack of Standardization

Voice of Customer Analysis

By Type of Accessory Used
By Brand of Headphones/Earphones Used
By Buying Mode of Headphones/Earphones
By Satisfaction of Headphones/Earphones Used
By Brand of Power Banks Used
By Buying Mode for Power Banks
By Satisfaction Level of Power Banks Used

Impact of COVID-19 on India Mobile Accessories Market

Impact Assessment Model
Key Segments Impacted
Key Regions Impacted
Key Distribution Channel Impacted

Report Scope

India Mobile Accessories Market, by Product Type:

Headphones & Earphones
TWS (True Wireless Stereo)
Protective Cases
Power Banks
Chargers
Others

India Mobile Accessories Market, by Price Range:

Low
Medium
High

India Mobile Accessories Market, by Distribution Channel:

Local Shops
Online
Supermarkets/Hypermarkets
Exclusive Stores
Others

India Mobile Accessories Market, by Region:

North
West
South
East

For more information about this report visit https://www.researchandmarkets.com/r/bq0853

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