June 22, 2024
India Mobile Phone Accessories Market

India Mobile Phone Accessories Market Poised To Witness Significant Growth By 2030

The India mobile phone accessories market offers a wide range of products like mobile phone cases and covers, headphones, power banks, Bluetooth headsets and other connectivity accessories. These accessories enhance the functionality of mobile phones and provide extra protection from damage. The growing mobile phone user base across both rural and urban India is propelling the demand for various protective and extended battery life accessories. The India mobile phone accessories market is estimated to be valued at US$ 2829.28 Billion in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2024 to 2030.

Key Takeaways

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 growing popularity of online shopping channels and e-commerce platforms in India has encouraged major electronics accessory retailers and local startups to offer their products online. This has also attracted several global mobile accessory brands to enter the highly lucrative Indian market. The increasing demand for power banks, Bluetooth headsets and wireless headphones due to the rising mobile data consumption and streaming services is a major factor fueling market growth. Moreover, leading mobile phone manufacturers regularly launching new models has resulted in strong demand for compatible protective cases and screen guards among Indian consumers.

The key players dominating the marketspace are focusing on introducing product innovations through extensive R&D and establishing partnerships with mobile phone manufactures for co-branding. Additionally, the rising per capita income and rapid urbanization has further augmented the demand for high-quality and premium accessories in metropolitan cities and urban pockets across India. The Indian government supporting digital initiatives like Digital India and Make in India is attracting global accessory players to set up local manufacturing plants. This will give a fillip to the growth of the accessories market in India.

Market key trends

The rising popularity of India Mobile Phone Accessories Market manufacturing budget-friendly devices is driving the demand for affordable yet high-quality mobile phone accessories. Majority of these companies are partnering with domestic accessory makers for producing customized and compatible protective cases, batteries, and chargers for their mobile phones. This emerging trend of consolidation between smartphone players and accessory brands provides immense opportunities for innovation.

Porter’s Analysis

Threat of new entrants: The mobile phone accessories industry in India experiences low threat from new entrants due to high cost of production and tough competition from existing providers.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of a wide range of products from various brands offering price leverage.

Bargaining power of suppliers: Suppliers have low bargaining power due to presence of many component manufacturers andParts suppliers.

Threat of new substitutes: Threat from substitutes is low as mobile phone accessories are necessities complementing the core functionality of phones.

Competitive rivalry: Intense competition exists among existing players to maintain or gain market share.

Geographical regions in India where mobile phone accessories market is concentrated in terms of value include states like Maharashtra, Tamil Nadu, Karnataka and Delhi NCR due to high urban population and disposable income.

The northeastern states of India are projected to be the fastest growing region for the mobile phone accessories market from 2024 to 2030 on account of rapid economic development and improving digital infrastructure in the region.

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