The Indian mobile phone accessories market has been witnessing steady growth over the past few years. Mobile phone accessories refer to components or products that enhance the utility of mobile phones. Some of the key accessories available in the market include mobile cases, screen guards, headphones, power banks, and memory cards. The growing smartphone penetration has boosted the demand for various phone accessories in India. Indians are increasingly using mobile phones for activities beyond basic communication, such as photography, web browsing, gaming, streaming multimedia content, and mobile payments. This expanding functionality of smartphones has increased the need for protective covers, headphones, power banks, and memory cards among Indian consumers. The Indian mobile phone accessories market is estimated to be valued at US$ 2829.28 Bn in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the India mobile phone accessories market are The Sherwin-Williams Company, PPG Industries, BASF SE, Akzo Nobel N.V., RPM International Inc. These players have a wide geographical presence and product portfolio in the Indian market. The Sherwin-Williams Company leads the coating industry in India and provides mobile device protection solutions.
There is immense potential for growth in the Tier II and Tier III cities of India as smartphone penetration is increasing rapidly in rural and semi-urban areas. Rising disposable income and tech-savviness of Indian consumers present significant opportunities for market players to expand their customer base.
Indian mobile accessories manufactures are focusing on exports to global markets. Companies like Boat, Zebronics and Portronics have made major inroads into the U.S., European and Southeast Asian markets. Large multinational corporations are also considering India as a strategic sourcing base to cater to the worldwide demand.
Market Drivers
One of the major drivers for the India mobile phone accessories market is the rising smartphone user base. As per statistics, the number of smartphone users in India crossed 500 million in 2018 and is projected to reach 859 million by 2022. Growing adoption of 4G networks and low-cost Android phones is enabling digital access for a massive untapped consumer segment.
Market Restraints
Prevalence of counterfeit and low-quality products is a major challenge faced by legitimate accessory manufacturers and brands. Cheap copies undermine genuine companies and customer trust in their brands. Strict enforcement of standards and regulations is required to curb sale of unauthentic accessories which can damage phones.
Segment Analysis
The India Mobile Phone Accessories Market is dominated by the Protective Cases segment. This segment accounts for over 30% of the overall market share as protective cases help protect mobile phones from damages such as scratches, cracks, and falls. Within this segment, rugged and belt clip cases are most popular as they offer maximum protection to the device without adding much bulk. Other major segments include headsets, power banks, and memory cards. The headsets segment is the second largest segment driven by the availability of Bluetooth-enabled wireless headsets that provide hassle-free connectivity and portability.
Global Analysis
Region-wise, Southern India dominates the India mobile phone accessories market and accounted for approximately 35% share in 2024. States like Tamil Nadu, Karnataka and Kerala have witnessed higher smartphone penetration in rural areas driven by availability of low-cost smartphones and cheaper data plans. East India is the fastest growing regional market and is expected to expand at a CAGR of around 6% during the forecast period. States like West Bengal, Odisha and Jharkhand are witnessing rapid urbanization along with increasing disposable income levels which is supporting the market growth. Key players in the country focus on private label offerings and online retail partnerships to strengthen their position in high potential Tier II and Tier III cities.
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https://www.ukwebwire.com/india-mobile-phone-accessories-market-size-share-growth-outlook-2023/
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