India Mobile Phone Accessories Market Size & Share, by Type (Batteries, Chargers, Headsets, Portable Speakers, Selfie Sticks, Power Bank); Price (Premium, Medium, Lower); Packaging Type (Boxes & Bags, Folding Cartons, Pouches & Bags, Trays); Distribution Channel (Electronic Stores, Retail, Franchise, Online) - Supply & Demand Analysis, Growth Forecasts, Statistics Report 2031

India Mobile Phone Accessories Market Size, Forecast, and Trend Highlights Over 2022 – 2031

India mobile phone accessories market is estimated to garner robust revenue by the end of 2031 by growing at a CAGR of ~10% over the forecast period, i.e., 2022 – 2031. Further, the market generated remarkable revenue in the year 2021. The growth of the market can primarily be attributed to the exponential increase in the number of mobile phone users. For instance, in 2020, the number of mobile phone users in India was projected to be approximately 745 million.  

Mobile accessories are any sort of hardware that is not installed in the body of a mobile phone referred to as mobile phone accessories. These accessories are generally purchased for the safety and to consume full advantages of mobile phones. Mobile phone accessories are capable of increasing the convenience, effectiveness, and beauty of mobile phones. India mobile phone accessories market trends such as, increasing urban population and higher adoption of e-commerce are anticipated to influence the growth of the market positively during the forecast period. For instance, the number estimated for the Indian urban population was nearly 4000 million in 2021. In urban areas, people are more inclined to buy such accessories since they are easily available.     

India Mobile Phone Accessories Market: Growth Drivers and Challenges

Growth Drivers

• Increasing Number of Social Network Users - As of 2020, the number of social network users in India was stated to be around 500 million, while the number is anticipated to reach more than 1 billion by the year 2040. As the number of social network users rises, the growth of the market is also driven exponentially since people are more active to post advertisements associated with products. Furthermore, the adoption of online purchasing is also boosting the growth of the market.

• Rising Disposable Income of India - Based on the data provided by the Ministry of Statistics & Programme Implementation, the Gross National Disposable Income (GNDI) was valued at INR 200.86 lakh crore for the year 2020-21.

• Growing Sales of Truly Wireless Stereos - The sales of truly wireless stereos devices in India were valued at approximately 20 million in 2021.

• Escalating Number of Internet Users - For instance, the number of people using the internet across the country was estimated to be around 700 million in 2020.

• Higher Prevalence of E-Commerce -The e-commerce penetration percentages of India for the year 2021 were anticipated to be approximately 75% of the share of respondents.

Challenges

• Higher Cost Associated with the Phone Accessories
• Lack of Credibility Regarding the Quality of the Products
• Possibility of Fraudulence and Fake Branding

The India mobile phone accessories market is segmented and analyzed for demand and supply by packaging type into boxes & bags, folding cartons, pouches & bags, trays, and others, out of which folding cartons segment is estimated to acquire the largest market share by the end of 2031. The market is projected to grow on the back of higher utilization of folding cartons. As of 2022, the total shipment of folding cartons in India was estimated to be around 1000.

Major Macro-Economic Indicators Impacting the Market Growth

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in the ICT sector has significantly contributed to GDP growth, labour productivity, and R&D spending among other transformations of economies in different nations around the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Market Segmentation

Our in-depth analysis of the India mobile phone accessories market includes the following segments:

Top Featured Companies Dominating the India Mobile Phone Accessories Market

• Kingston Technology Corporation
  • Company Overview
  • Business Strategy
  • Key Product Offerings
  • Financial Performance
  • Key Performance Indicators
  • Risk Analysis
  • Recent Development
  • Regional Presence
  • SWOT Analysis

• GN Group
• Samsung Electronics Co., Ltd. 
• Micromax Informatics
• Skullcandy Inc.
• Harman International Industries, Incorporated
• Apple Inc.
• Sony Corporation
• Plantronics, Inc.
• Lava International