Rapid urbanisation and increasing disposable income are factors contributing significantly to the growth of the India mobile phone accessories market
The India mobile phone accessories market has grown significantly in recent years with immense opportunities owing to substantial growth in the worldwide adoption of smartphones and tablets. Decreasing prices of mobile phones is increasing smartphone penetration, which in turn is surging the growth of the India mobile phone accessories market. Increasing disposable income has transformed consumer buying and spending trends mainly in urban areas. Adoption of mobile devices amongst the youth across the globe has provided a robust stimulus for the growth of the market. Moreover, increasing internet penetration has uplifted the trend of online retailing in the India mobile phone accessories market due to convenience of cash on delivery payment option and various price discounts along with a wide variety of products offered by e-retailers. This is anticipated to catalyse the growth of the India mobile phone accessories market.
Future Market Insights forecasts the India mobile phone accessories market to reach a market valuation in excess of US$ 3,500 Mn by 2026, representing a CAGR of 10.4% between 2016 and 2026. The India mobile phone accessories market is estimated to represent incremental dollar opportunity of over US$ 2,200 Mn during the decade.
India mobile phone accessories market analysis and forecast by product type
Protective case segment accounted for relatively higher revenue share amongst the product type segments in the India mobile phone accessories market in 2015
Wireless headphones and earphones are expected to gain popularity amongst consumers in India during the assessment period
Adoption of turbo chargers and wireless chargers are a growing trend in the India mobile phone accessories market
Memory card segment is expected to witness a steady growth rate during the assessment period
India mobile phone accessories market trends by product type
‘Threat of piracy is a major restraint affecting the India mobile phone accessories market’
Piracy is a major threat to various markets, especially the mobile phone accessories market. Pirated products are offered at a fraction of the price of that of original products, resulting in a major chunk of consumers opting for these products in India. As a result, counterfeit products are expected to hamper revenue growth of the India mobile phone accessories market to a significant extent over the assessment period.
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