Mobile phone accessories include protective covers, screen guards, power banks, headphones, and chargers which are complementary to mobile phones. Growing penetration of smartphones such as Apple iPhones and Samsung Galaxy series across India has boosted the demand for phone accessories. Protective covers and screen guards provide necessary protection to phone screens from accidental drops and scratches. Power banks have become indispensable for smartphone users due to their extensive usage requiring frequent charging. Headphones and earphones allow private listening without disturbing others. Rapid adoption of 4G network and availability of affordable data plans are propelling video streaming and online content consumption among Indian users. Rising smartphone dependence in daily activities ranging from social networking to online shopping and payments has increased the importance of phone accessories ensuring continued usability.
The global 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 9.72%over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing e-commerce penetration in India is one of the key drivers boosting sales of mobile phone accessories. Various online shopping platforms offer a wide selection of accessories from popular brands along with lucrative deals, fast delivery, easy returns and product replacement policies. This makes online channel highly convenient for buying complementary accessories required to enhance smartphone experience. Another driver is increasing internet usage and social media engagement among Indian consumers. Time spent on social networking apps and video streaming has elevated the need for durable protective cases and power banks to keep up with intensive mobile activities throughout the day without disruption. Rising disposable income is also facilitating premium spending on advanced accessories by urban smartphone users.
Segment Analysis
The India mobile phone accessories market is segmented into protective covers, headphones, power banks, wireless chargers, screen protectors, memory cards, selfie sticks, portable speakers and others. Among these, protective covers dominate the market with over 35% share owing to the high number of smartphones sold and the need to protect screens from damage. Protective covers are chosen by customers for their ability to prevent scratches and protect the phones from accidental falls or drops.
PEST Analysis
Political: The government’s ‘Make in India’ initiative and Digital India program promote the domestic manufacturing of mobile phones and accessories to fulfill the huge demand in India and create jobs. This leads to growth of local players.
Economic: With rising disposable incomes and expanding middle class in India, more people are able to afford smartphones and accessories. This coupled with falling device prices drives the market. Easy financing and EMIs further encourage spending.
Social: Increasing internet and smartphone penetration has changed lifestyles and behaviors in India. People are highly dependent on their phones for social media, entertainment, e-commerce which fuels demand for accessories. Protective gear is necessary due to rural road conditions.
Technological: Advancements in phone features like larger screens, faster charging, better cameras increase the need for compatible accessories that enhance usage. Wireless technologies aid growth of chargers and headphones. E-tailers offer attractive discounts on bundles.
Key Takeaways
The Global India Mobile Phone Accessories Market Growth is expected to witness high over the forecast period of 2023 to 2030. The global 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 9.72%over the forecast period 2023 to 2030.
The southern region currently leads owing to high smartphone use and increasing digitization. States like Tamil Nadu and Karnataka have emerged as key markets.
Key players operating in the India mobile phone accessories market are Graphic Packaging International, Dart Container Corporation, Konie Cups International Inc., Huhtamaki OYJ, Kap Cones Private Limited, Eco-products Inc. (Waddington North America), Phoenix Packaging Operations LLC, Detmold Group, Benders Paper Cups, Georgia Pacific LLC (Koch Industries Inc.), Go-Pak UK Ltd, and Genpak LLC (Great Pacific Enterprises Inc.). Protective cases witnessed highest demand among other accessories segments like headphones, power banks etc. Rising in disposal income of Indians and increasing popularity of e-commerce in India are some other drivers of market growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it