Rising Use Of Smartphone To Drive India Mobile Phone Accessories Market Growth

 

India Mobile Phone Accessories Market

India Mobile Phone Accessories Market by Product Type (Battery, Headphone/Earphone, Portable Speaker, Charger, Memory Card, Protective Case, Power Bank, Battery Case, Screen guards, Popsockets, and Others), Distribution Channel (Online and Offline), and Price Range (Premium, Mid, and Low) - Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030

The India Mobile Phone Accessories Market is estimated to be valued at US$ 2,238.4 Million in 2022 and is expected to exhibit a CAGR of 9.72 % over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Mobile phone accessories consist any hardware or software which is not essential in the functioning of a mobile phone as equipped by the producers. Cases, which are made to link, assist, or otherwise keep a mobile phone, are popular accessories for numerous phones, especially mainstream smartphones.

Competitive Landscape:

Key players involved in the growth of India Mobile Phone Accessories Market are Kingston Technology Corporation, Apple Inc., GN Group, Lava International, Micromax Informatics, Samsung Electronics Co., Ltd, Sony Corporation, Skullcandy Inc., Platronics, Inc., and Harman International Industries.

Market Key Drivers:

Rising use of smartphone is expected to boost the growth of India Mobile Phone Accessories Market. For instance, as per I&B Ministry there were around 1.2 billion smartphone users in India in 2022.

Increasing advancements and usage in wearable accessories is projected to propel the growth of India Mobile Phone Accessories Market. For instance, as per IDC India, overall 14.4 million wearables were transported throughout the year, out of which 12.2 million are smartwatches.

Covid-19 Impact Analysis:

The Covid-19 outbreak has adversely affected the growth of India Mobile Phone Accessories Market due to the rising surge in pandemic. The disruption in supply chain, halt in supply of accessories from one place to another and restriction on transports has impeded the market growth. However, the rising use of smartphones for online classes, digital payments and checking of pulse and pressure through wearable devices has propelled the market growth.

Key Takeaways:

The India Mobile Phone Accessories market is expected to exhibit a CAGR of XX % during the forecast period due rising regulatory investment and innovation for the expansion of product. For instance, in December 2021, the government granted around US$ 10.2 billion initiative, to increase semiconductor and show production in India,

Among region India is anticipated to witness robust growth in the India Mobile Phone Accessories market due to rising approvals and launches, rapid Initiatives, increasing investments and expenditure. For instance, in 2021 as per the Software Technology Parks of India, Telangana, Maharashtra and Uttarakhand have acquiesced three novel proposals for setting up electronics groups under the altered scheme for deliberation by the MeitY.

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