Global Market Research Company US India Mobile Accessories Market Forecast and Oppor | Page 8

Industry Brief
Rising Adoption of Smart Devices to Drive India Mobile Accessories Market until 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.
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 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.
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