Mobile phones is one of the fastest growing segment in India, with a large number of unreached areas and untapped customers. The growth in mobile phones is inevitably spurring the growth of mobile accessories market. As the country witnesses a growing digitalised culture within the largest growing customer segment, it creates a robust demand for different types of mobiles accessories in India.
In the last few years, tablet and the mobile phones have emerged as essential devices that Indian consumer rely on to communicate and navigate. Consumers have started using mobile phones to assist them in managing and improving their daily assignments. They want their devices to be protected from getting damaged due to fall or getting wet, and also want their mobiles to be fully charged. Depending on the needs and preferences, consumer customise their devices with different accessories. They are using smart accessories to increase the basic features of their mobile and tablet devices and enhance their activities in gaming, music and photography.
Types of Accessories
Mobile Accessories Market has been segmented into the following:
Wired And Wireless Chargers
Wired And Wireless Keyboards
Power Bank and others
In India, sales of mobile phone accessories are surging on account of rising mobile phone ownership, and an element of fashion attached to it, with many fancy accessories doing the rounds in the market. The demand for wireless mobile accessories in India shows no signs of slowing down, with recent studies by market analysts such as IMS Research predicting that Bluetooth headsets will surpass the 45 million unit mark by 2015.
Considering the lucrativeness of the mobile phone accessories market, many mobile manufacturers have made a foray in the market. In addition to Samsung, Apple, Sony, LG, Nokia, other manufacturers are also launching new accessories to get a pie of this highly lucrative market. For example, Cat® phones, a manufacturers of rugged phones, launched its new range of mobile cases and accessories at the Mobile World Congress 2015. Further, Indian handset maker Karbonn announced in March this year that it was entering the mobile phone accessories market.
The global mobile phone accessories market has been dominated by protective cases and earphones/headphones for a long time. However, as consumer focus shifts from visual appeal to functionality, power banks are gaining traction. Among all the various types of mobile phone accessories, power banks are growing at the highest rate.
India holds immense opportunities for accessories due to a large potential and existing consumer base and growth in their adoption of smartphones. Increasing usage of smartphones in the region has enabled consumer to use them as a controller for other peripherals devices such as health monitors, toys, printers, home automation systems and others. Declining device prices, growing online retail market (which offers multiple deals and offers, leading to lower prices) and the millennial populations are contributing to the growth to a large extent.