Mobile phone accessories market in India to reach $3545mn by end of 2026, says study
Mobile phone accessories market in India will reach a value of $3,545 million by the end of 2026, registering a growth of 10.4%, with further penetration of internet, a Future Market Insights’ report titled “Mobile Phone Accessories Market: India Industry Analysis & Opportunity Assessment, 2016-2026″, said Wednesday.
According to the report, mobile phone or smartphone users in India have been actively increasing their exposure to the Internet which will keep the consumption of mobile phone accessories high.
The report estimates that more than 40% of India’s mobile phone accessories revenues will remain to be in the mid-price range by the end of 2026 due to the counterfeit production of branded accessories and pricing pressures.
The report found that products such as protective cases for mobile phones and smartphones, and audio gear such as headphones and earphones will continue to be top-selling mobile phone accessories in India, collectively accounting for more than one-third of the gross market revenues throughout the forecast period.
Portable speakers and batteries are also expected to gain traction in India’s mobile phone accessories market by showcasing a combined incremental opportunity of nearly $450 million by 2026. Irregular electricity and power distribution infrastructure in India serves as a catalyst for consumption of power banks which could lead to power banks in India to account for more than $350 million in revenues by end of 2026.
“According to Future Market Insights, more than $32 billion revenues have been amassed from sales of mobile phone accessories across the APAC region in 2016, with India accounting for a considerable share,” the report said.
The study suggested that multi-brand stores are trending as the most-preferred distribution channel for buying mobile phone accessories in India. “North India will continue to dominate by accounting for more than 30% of the market revenues, while South Indian states and West Indian states will collectively account for half of India’s mobile phone accessories revenues by the end of 2026,” the study said,
According to the report, after segmenting the revenues of the India mobile phone accessories market on the basis of “other” types of products as such, more than US$ 150 million revenues are being estimated to be amassed between 2016 and 2026.