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Wednesday, January 27th, 2021

Rising Adoption of Smart Devices to Drive India Mobile Accessories Market until 2023: TechSci Research Report


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


INVC NEWS

New Delhi, 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. Risinginclination of customers towards online streaming as well as concept of Bring Your Own Device (BYOD), is also anticipated toacceleratethe 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. 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. Among regions, North region accounted for the largest revenue share, owing toincreasingpenetration 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 asChina and Taiwan. As a result, Indian government, through its various initiatives, such as Make in India, Digital India, etc., is looking forward to encouragingdomestic 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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