IT News Alert:why-mobile-accessories-market-is-on-a-growth-trajectory


 Be it power banks, earphones or smartwatches, these accessories are a must-have these days. Thereby, creating a market that is growing by leaps and bounds year-on-year and is hard to ignore.

The Indian mobile phone accessories market has grown significantly in recent years with immense opportunities owing to substantial growth in the worldwide adoption of smartphones and tablets. Decreasing prices of mobile phones is furthermore increasing smartphone penetration, which in turn is surging the growth of the Indian mobile phone accessories market. Increasing disposable income has transformed consumer buying and spending trends mainly in urban areas, wherein Luxury has made a shift towards the need. Adoption of mobile devices amongst the youth has built the aggression in the Market. Moreover, increasing internet penetration and Online Shopping has uplifted the trend of online retailing in the India mobile phone accessories market due to convenience of cash on delivery payment option and various price discounts along with a wide variety of products offered by e-retailers. This underlines the growth of the India mobile phone accessories market and will further drive its next steps.

Ashish Mutneja, CEO – Quantum Hi tech says, “With changing times, consumers have evolved and so have their choices. The focus has shifted towards easy and comfortable lifestyle – this simplification comes with a lot of additional technology in life. With the technological advancement, users in India are getting more inclined towards the high-tech gadgets. Inclination towards comfort and ease is drawing strong demand for wireless smartphone accessories, particularly headphones and chargers which is no longer limited to Metros but also Tier 2 and Tier 3 Markets. Consumers have started shifting from Wired to Wireless devices, bringing comfort and simplicity.”

Not to miss, Mobile phone accessories have also become a style statement these days. The branded stores provide a wide range of mobile phone accessories which are colorful, unique and trendy, defining one’s style. Pricing too has become a key aspect to safeguard market prominence of their flagship products. Over 40% of mobile phone accessories in India come under mid-price range and with growing competition margins are squeezed too.

With all these factors driving growth, both businesses and consumers are in for some exciting times. Growth, as the popular belief goes, drives innovation. In India, vice versa too is equally true!

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