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 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Mobile phone accessories include protective covers, headphone, chargers, portable speakers, memory cards, power banks and cables that are used to enhance functionality and protection of smartphones. Rapid adoption of smartphones with advanced technologies like wireless charging, wireless headphones and fast charging has fueled the demand for compatible accessories in India. Protective cases and covers remain the most popular accessory accounting for over 30% market share.

Market Dynamics:

Growing penetration of high-end smartphones and demand for latest mobile technologies are major drivers of India mobile phone accessories market Size. Wireless charging technology allows users to charge devices without cables and has seen strong growth in recent years. Wireless headphones without audio-cables have also gained popularity due to convenience. Fast charging technology enables users to charge devices quickly and drives the demand for fast chargers and power banks. However, availability of low-cost alternatives from local and Chinese manufacturers poses a challenge to established brands. Innovation and focus on high-quality products remain important for sustained growth of industry players.

SWOT Analysis

Strength: India possesses a large, young, and tech-savvy population which drives the demand for mobile phone accessories in the country. The availability of low-cost manufacturing capabilities and presence of skilled workforce gives domestic manufacturers an edge over imports. Growing e-commerce industry enables easy access to these products across both urban and rural areas of India.

Weakness: Presence of inexpensive low-quality clones and counterfeit accessories impacts sales of established brands. Lack of innovative features in basic accessories limits their demand.

Opportunity: Proliferation of low-cost 4G networks and rise of online streaming is boosting media consumption on mobile devices, driving growth in accessories like earphones and power banks. Emergence of IoT and VR/AR technology opens new application areas for accessory makers.

Threats: Stiff competition from Chinese manufacturers pressures margins of domestic players. Rising component costs and fluctuations in commodity prices pose inflationary risks.

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 mobile device adoption and proliferation of 4G/5G networks. Regional analysis

The India market is projected to dominate the regional market share over the forecast period, accounting for around 35% of the overall market revenue by 2030. This can be attributed to growing tech-savviness of millennials and Gen Z, combined with rising disposable incomes and expanding middle class in India.

Key players

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. These players are focused on developing innovative and affordable accessories to tap growing demand from value-conscious customers in India.

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