Mobile Accessories Market in India (2018?2023)
Market insights: The major mobile accessories used by customers include external batteries, USB cables, mobile cases and covers, chargers, and earphones. The competitive advantage of the players operating in the market lies in the uniqueness of the distribution channels. It consists of an array of national, regional and micro level distributors. The manufacturers can market their products through one or multiple distribution partners and retailers, thereby reaching a big consumer base. Owing to substantial growth in the adoption of smartphones and tablets, the mobile accessories market in India is expected to reach ~INR 252.80 Bn by 2023. Segment-wise market insights: In India, mainly four types of mobile accessories are used ? protective cases, wireless headphones and earphones, turbochargers, and memory cards. Protective cases: Protective cases have a relatively high share among the different segments of mobile accessories available in India. In order to fulfil the demand from the growing fashion-conscious consumer base, focus of the Indian companies remain on manufacturing protective cases that are in line with the consumers? preferences. Wireless headphones and earphones: Recent technological innovations by companies have triggered the sale of wireless headphones and earphones in India. Sony Corp, Skull Candy Inc., and JBL Inc. are some of the leading manufacturers of audio accessories for mobile phones in India. The wireless headphones and earphones segment was valued at INR ~11.47 Bn in 2016, and is expected to expand at a compound annual growth rate (CAGR) of ~12.1% during the forecasted period. Memory cards: Increasing use of smartphones and multimedia functions among Indian consumers is creating the demand for external storage devices such as memory cards. In 2017, Samsung, SanDisk, Transcend, Kingston, and Sony were the top five memory card companies operating in India. Key market trends: Indian consumers are increasingly using power banks to charge their portable devices, on the go. These devices address the same objective as that of turbochargers and high capacity batteries. Various kinds of device stands and holders are slowly gaining popularity among the youth, who invest heavily on large-display smartphones. Market drivers: By 2020, smartphone shipment in India is expected to reach ~210.53 Mn units, expanding at a CAGR of ~17.5% from 2016. The growing adoption of mobile phones is creating opportunities for manufacturers of mobile accessories to enter the market. The rise in disposable income has revolutionized the buying and spending patterns of customers. Change in the outlook of consumers is leading to high demand for fashionable mobile accessories. Market challenge: Currently, the mobile accessories market in India is driven by low-cost imports. These products are mainly sold in local stores, thus feeding the demand for cheaper mobile accessories. Hence, unbranded grey market offerings are hampering the market for branded products. Companies covered: 1. Eon Electric Ltd. 2. Optiemus Infracom Ltd. 3. Callmate (India) Pvt. Ltd. 4. Intex Technologies (India) Ltd. 5. Apple India Pvt. Ltd. 6. Belkin India Pvt. Ltd. 7. Case Mate India Pvt. Ltd. 8. Moftware Infotech Pvt. Ltd. 9. PNY Technologies Asia Pacific Ltd. 10. Samsung India Electronics Pvt. Ltd. Customization available: With the given market data, Research on Global Markets offers customizations according to specific needs. Write to us at firstname.lastname@example.org, or connect with us here.