MOBILE PHONE ACCESSORIES

                   MOBILE PHONE ACCESSORIES

 Mobile phone accessories are as important as mobile phones in day-to-day life. Most of us will find it difficult to survive without a bare minimum set of mobile phones and accessories. Be it a power bank, earphones or smartwatches, these must have accessories these days. As a result, a market is being built by leaping from year to year and it is difficult to ignore.

A recent study on the mobile phone accessories market in India shows that the rapid growth in the sale of mobile goods is directly proportional to the smartphone sales in the country. The mobile phone market is expected to grow at a CAGR of 2.6% during the period from 2014 to 2020. As a result, the mobile phone accessories market will also continue to grow and is expected to reach $ 107.3 billion by 2022.

Key Factors Driving Growth of Smartphone Market in India

Growth in the overall Indian smartphone industry is influenced by many factors. Mostly, these factors are proposing a change in consumer choice from feature phones to smartphones.

Rapid urbanization

Population is increasing in urban areas. Spending ability has also increased. With mobile phones becoming an essential part of urban life, more and more consumers are spending on smartphones and goods.

Network connectivity

The service provided by telecom companies has also improved several notches. It has facilitated the enhancement of smartphones by people from different strata of society which gives them access to the digital world.

E-commerce shopping website

The influx of e-commerce websites has played a role in expanding the mobile phone market in India - both from usage and mobile phone sales.

While the money muscle of the e-commerce giants was used by them to increase sales, it had a direct impact on the lift of smartphones by Indian buyers. Vertical e-commerce companies focused on the mobile phone accessories sector also increased demand for accessories.

Many exclusive launches that were heavily advertised sold a lot of units. "App-only" discounted communication brings awareness of the benefits that smartphones offer over a feature phone. "Apps", as most people know today, is something that is only available on smartphones and makes life easier in one way or another; Thanks to the big advertisers in the e-commerce industry.

Major Factors Influencing Demand for Mobile Phone Accessories in India

The growth in smartphone sales in India has led to an increase in sales of mobile phone accessories. The smartphone offers many features like camera, multimedia messaging, music, internet, location-based services and data storing and sharing. Mobile accessories further enhance these features: such as headphones, travel chargers, protective cases, power banks, USB cables, wireless speakers, memory cards, Bluetooth devices, and selfie sticks.

Strong distribution network

Mobile phone accessories have also become a style statement these days. Branded stores offer a wide range of mobile phone accessories that are colorful, unique and fashionable. Companies offering these goods have a strong distribution network to promote and sell their goods.

With all these factors of growth, both businesses and consumers are in for some exciting times. Development, as popular belief goes, drives innovation. The opposite is equally true in India!