February 28, 2024
India Mobile Phone Accessories Market

“Rising Smartphone Penetration Boosts India’s Mobile Phone Accessories Market”

With rising smartphone penetration in India, the demand for mobile phone accessories such as power banks, screen protectors, phone cases, headphones, and charging cables has increased rapidly. Mobile phone accessories enhance the user experience, provide additional functionality, and improve the durability of smartphones. Some commonly purchased accessories include power banks for extended battery life on the go, screen protectors and phone cases to prevent damage from drops or scratches, headphones for private and high-quality audio, and cables for fast and wireless charging.

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 key trends:

One of the major trends in the India mobile phone accessories market is the growing popularity of wireless accessories. With the widespread adoption of wireless technologies such as Bluetooth and Wi-Fi, consumers are increasingly opting for wireless headphones, wireless charging pads or stands, and Bluetooth speakers. Wireless accessories offer greater mobility and convenience to users. Manufacturers are also focusing on developing innovative, high-quality, and aesthetically pleasing accessories to meet the changing preferences of smartphone users in India. Accessories that are lightweight, compact, and compatible with various smartphones brands are in high demand.

Porter’s Analysis

Threat of new entrants: The threat of new entrants into the India mobile phone accessories market is moderate. While the costs to set up a manufacturing unit are significant, importing accessories is relatively easy. However, established players have strong brand loyalty and distribution networks that create barriers.

Bargaining power of buyers: The bargaining power of buyers in the India mobile phone accessories market is high. Buyers have a large number of options and brands to choose from. They can negotiate on price especially for generic accessories.

Bargaining power of suppliers: The bargaining power of suppliers is moderate. While there are many smaller accessory manufacturers, key players rely on a few large component producers. Suppliers’ switching costs are low.

Threat of new substitutes: The threat of new substitutes is low. There are few substitutes for mobile accessories that serve similar purposes of mobile care, protection or enable additional usage. Accessories complement mobile phones.

Competitive rivalry: Competition in the India mobile phone accessories market is high due to presence of local and international brands. Players compete on prices, designs, and endorsements.

Key Takeaways

The Global India Mobile Phone Accessories Market Demand is expected to witness high growth. The growing adoption of smartphones and increasing disposable incomes are driving demand for mobile accessories in India. 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.

Regional analysis: The southern region currently dominates the India market led by states like Tamil Nadu and Karnataka. However, northern states like Uttar Pradesh and Bihar are emerging strongly on back of rising sales of cheaper smartphones. Western and eastern regions remain sizable markets.

Key players: 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.).These players compete on the basis of innovation, quality, and pricing

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it