India Mobile Accessories Market Outlook – Growing Device Adoption & Spending Power Spurring Growth

MUMBAI, India - Sept. 26, 2017 - PRLog -- Global market intelligence firm, Netscribes, Inc. released its latest report on the 'Mobile Accessories Market in India 2017 (https://www.researchonindia.com/mobile-accessories-market-in-india-2017-13628.html)'. Availability of budget smartphones coupled with growing young working population has laid a strong foundation for the growth and development of the mobile accessories market in India.

Netscribes' latest market research report titled Mobile Accessories Market in India 2017 states that the mobile accessories market in India is expected to see steady growth in the future. It is projected to grow at a CAGR of ~10.6% between FY 2016 to FY 2026.  India holds immense opportunities for mobile accessory products due to enormous number of mobile device users and rapid growth in adoption of smartphones and tablets. Continual decline of prices of mobile devices is primarily aiding the growth in smartphone and tablet market penetration. Rise in disposable income has revolutionized consumers' buying and spending trend, especially in the urban areas. Mobile device adoption amongst youth population in the country and their spending pattern provide strong stimulus to the mobile accessories market. Online retailing plays a big part in this growth as well.

Both domestic and foreign mobile accessory companies face tough competition from unbranded products, especially ones imported from China. Although unbranded grey market products are dominating at present, with competitive pricing and availability, majority of the market can potentially belong to branded mobile accessories. Key players operating in the industry are Eon Electric Ltd., Optiemus Infracom Ltd., Callmate (India) Pvt. Ltd., Moftware Infotech Pvt. Ltd., Belkin India Pvt. Ltd., Case Mate India Pvt. Ltd., PNY Technologies Asia Pacific Ltd., and Samsung India Electronics Pvt. Ltd. Indian government will provide impetus to electronic manufacturing by increasing allocation to various schemes that incentivize domestic production of the goods. This will allow more mobile manufacturing companies to set up production facilities in India, thus having a multiplier effect on manufacturing in the country.

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