Rising Adoption of Smart Devices to Drive India Mobile Accessories Market until 2023
Growing adoption of smart devices, declining
prices of mobile accessories, coupled with rising number of technological
advancements to drive India mobile accessories market through 2023
According to TechSci Research report, “India
Mobile Accessories Market By Product Type, By Distribution Type, By Price
Range, Competition Forecast & Opportunities, 2013-2023’’, mobile
accessories market in India is witnessing significant growth on account of
increasing penetration of smart devices coupled with rising demand among
customers for safe and secure mobile accessories. Consequently, the mobile
accessories market in the country is project to grow at more than 10% CAGR
until 2023. Rising inclination
of customers towards online streaming as well as concept of Bring Your Own
Device (BYOD), is also anticipated to accelerate the penetration of smartphones
across India in the coming years, thereby further propelling growth in India
mobile accessories market. Additionally, continuing technological advancements
in mobile accessories market are further expected to boost product sales in the
coming years.
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Low priced mobile accessories
accounted for the largest share in India mobile accessories market in 2017 on the
back of rising inclination of customers towards low priced products. Moreover, mobile
accessories manufacturers and providers are also aiming towards shifting from
high price to the mid or low-priced accessories in order to meet growing demand
for these accessories across the country. Samsung India Electronics Pvt.
Ltd., Intex Technologies (India) Ltd., Xiaomi Technology India Private Limited,
Philips India Limited, and Sony India Private Limited are some of the major companies operating in India mobile
accessories market.
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Among regions, North
region accounted for the largest revenue share, owing to increasing penetration
of smart devices as well as growing internet users across the region. “In India, over 80% of
mobile components including, mobile accessories, are being imported from other
countries, majorly from countries in Asia-Pacific region, such as China and
Taiwan. As a result, Indian government, through its various initiatives, such
as Make in India, Digital India, etc., is looking forward to encouraging domestic
manufacturing, which is expected to positively influence the mobile accessories
market in India during forecast period.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“India
Mobile Accessories Market By Product Type, By Distribution Type, By Price
Range, Competition Forecast & Opportunities, 2013-2023” has evaluated the future growth
potential of India mobile accessories and provides statistics and information
on market size, structure and trends. The report offers decision makers
superior market intelligence, thereby enabling them conduct thorough investment
appraisal. Besides, the report also analyzes the evolving market trends along with major
drivers, challenges and opportunities in India mobile accessories.
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