May 17, 2024

The Global India Mobile Phone Accessories Market Growth Accelerated By Rising Smartphone And E-Commerce Penetration

India’s mobile phone accessories market has seen tremendous growth over the past few years, driven by rising smartphone penetration and increased online retail activities in the country. Mobile phone accessories such as chargers, screen guards, power banks, earphones have become necessities for millions of smartphone users in India. These accessories enhance the functionality of smartphones and provide convenience to users. The convenience of one-click ordering and doorstep delivery offered by e-commerce platforms have boosted sales of these products.

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 4.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
According to a recent survey, rural smartphone penetration increased to nearly 30% in 2022 from 15% in 2018. Emerging value-conscious brands offering budget smartphones have made smartphones more affordable for rural consumers. Meanwhile, e-commerce platforms are expanding their reach in smaller towns and cities through localized marketing campaigns and easy payment options. This has increased the accessibility of mobile phone accessories in rural India, thus serving as a key growth driver for the industry.

Segment Analysis
Mobile phone accessory market in India can be segmented into battery, headsets, chargers, screen protectors, power banks, memory cards and others. Among these, battery and chargers segment accounted for maximum share in 2021 owing to high demand for portable charging solutions for uninterrupted connectivity. Battery and chargers segment is expected to continue dominating the market during the forecast period as well due to continuous innovation and frequent launches of fast charging solutions by key players.

Key Takeaways
The Global India Mobile Phone Accessories Market Size is expected to witness high growth. 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 4.9% over the forecast period 2023 to 2030.

Regional analysis related content comprises India’s Mobile Phone Accessories Market is expected to grow at a CAGR of 4.9% during 2023-2030 to reach US$ 2455.97 billion by 2030. The southern region dominated the market in 2021 accounting for over 30% share. Key factors such as high penetration of smartphones, rising middle-class population, and availability of affordable accessories are responsible for regional leadership.

Key players related content comprises 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. The Sherwin-Williams Company dominated the market in 2021 owing to wide distribution network and availability of complete product portfolio for car refinish coatings in India. PPG Industries held the second largest share in 2021 on account of strong brand image and innovative product offerings. BASF SE, Akzo Nobel N.V. and RPM International Inc. are other major players in the market.

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