ReportID: ACC238 |
Coverage: COUNTRY |
Category: Consumer Electronics | Sub-Category: Accessories |
Published in: February 2022 | US $1450 |
Millennial population consider purchasing mobile accessories equipped with advanced technology features such as high range Bluetooth connectivity and high-quality sound with deep bass compatible with multiple smartphone devices such as Android phones and iPhones. Additionally, their buying decision is extremely influenced by the reviews provided by the key opinion leaders on social media, product comparison websites, and online platforms.
Increasing consumer inclination for premium-priced mobile accessories driven by growing per capita income in the country is catalysing the growth of India mobile accessories market size. Moreover, growing adoption of smartphones, tablets and laptops in India supplemented by increasing mobile broadband penetration and rising uptake of on demand video and music streaming services on mobile devices is expected to boost the India mobile accessories market growth during the forecast period.
Browse Full Report: India Mobile Accessories Market | Analysis 2019-2031
By product category, the India mobile accessories market is segmented into charger, earphones and headphones, battery, speakers, power bank, memory cards, protective case, and other mobile accessories. In terms of volume shipment, the charger and earphones and headphones segments collectively accounted for more than XX% share of the overall mobile accessories shipment in India in 2021. Major demand for mid- and low- priced wired earphones and headphones, in terms of volume, is coming from consumers living in Tier III and Tier II cities. These consumers are picky and price conscious and their buying decision is primary influenced by the price of the earphone and headphones.
Other major segments analysed and covered in the India mobile accessories market are distribution channel, price-range, and region. Based on distribution channel, the India mobile accessories market is segmented into multi-brand store, online stores, and single brand stores. By price-range, the India mobile accessories market is bifurcated into low-price, mid-price, and premium-price segments. Based on region, the India mobile accessories market is analysed across three major geographies such as tier I, tier II, and tier III cities.
By price range, the India mobile phone accessories market has been segmented into premium-price, mid-price, and low-price mobile phone accessories. The premium-price and mid-price segments are projected to grow at the first- and second-highest CAGR during the forecast period owing consumers’ shift towards mid- and high-priced mobile phone accessories.
Some of the major companies analyzed in India mobile accessories industry are Sennheiser electronic GmbH & Co. KG, audio-technica corporation, Xiaomi Inc., JBL, Jabra, Ambrane India Pvt. Ltd., SanDisk Corporation, Bose Corporation, Kingston Technology, Beats Electronics, Amazon.com, Inc., and Google LLC among others. Leading players in the India mobile accessories market are aimed at expanding their geographical presence through operation expansion, wherein companies focus on setting up sales offices and manufacturing plants across emerging cities in India. This enables the companies to examine and implement efficient and effective processes and systems for utilizing available resources and meet increasing customer demand.
Additionally, prominent players in the India mobile accessories market have made it a priority to build a strong distribution network and taken several strategic decisions to enter tie-up with leading online and local distributors in the local and international market. This strategy helped the companies to reduce risk and build brand image across emerging markets. Moreover, major players in the India mobile accessories market focus on targeting both middle class and upper-class sections by adding variety of mobile accessories such as speakers with different price ranges in its product portfolio. The companies operating in the India mobile accessories market develop pricing strategy in such a way that enables them to offer products at affordable price for customers falling under different income groups. For instance, JBL introduced range of new product following skimming pricing strategy to generate revenue from brand loyal customers and audiophiles in lesser time.