Revenues the Mobile Accessories Market is expected to make by 2030

The global mobile phone accessories market is anticipated to reach USD 157.3 billion by 2030, at a CAGR of 7.20% from 2023 to 2030. But what is the market value of these mobile accessories in India?

The value of wireless accessory sales in India was projected to be at 20 million in 2021. Currently, it has been estimated that India’s mobile phone accessories market will garner robust revenue by the end of 2039 by growing at a CAGR of 10%.

Global digitalization is increasing our reliance on smart devices, particularly mobile phones. The improved connectivity spectrum and increased usage of mobile phones have caused the market for mobile phone accessories to rise among individuals. Mobile phone accessories are hardware parts that help in improving the functionality of the devices. This includes cutting-edge accessories like chargers, USB Cables, power banks, wireless chargers, memory cards, and many more. In fact, mobile accessories manufacturers in India are developing the newest technologies, such as universal chargers, mini adapters, and converter cables, which have recently increased market demand.

Factors Driving Surge of the Mobile Accessories:

• The increasing number of social networks: According to a study, in 2020, there were more than 500 million active social network users in India alone. Hold on to your seat because predictions indicate that by 2030, these numbers will rise to over a billion. Businesses are utilising the chance to bring their mobile accessories in the market since they have access to such a large audience, which is promoting exponential development.
• Rising Disposable Income: Consumers can now better invest in high-quality mobile accessories that increase their smartphone usage because of rising disposable incomes and living standards.
• Technology Advancement: Sales of mobile accessories are expected to increase as wireless device demand rises and technology advances more often. For instance, manufacturers in India are developing the latest technologies, such as portable chargers and connectors. This has recently increased consumer demand for the sector.
• Growing sales of wireless stereos: In 2021, it was estimated that the sale of wireless accessories in India was valued at approximately 20 million. Users’ need for seamless sound experiences transforms these devices from mere accessories into soundtracks, driving up demand and aiding in market growth.

Market Segmentation

The Indian mobile accessories market can be divided into the following categories:

Opportunities:

• Rapid Technological Advancements: The market for mobile accessories in India will continue to grow as technology advances. Innovation will shape the environment, from cutting-edge wireless charging systems to AI-driven accessories. The market will serve a tech-savvy populace looking for seamless integration and superior experiences as devices develop.
• Increasing Need for Convenience: The market for mobile accessories in India has much to look forward to in 2030 due to the growing need for convenience. Accessories that increase efficiency and simplify daily activities will prosper as urban lifestyles become increasingly fast-paced. The market will create convenience-driven items that fit with current lives, from smart wearables to versatile charging solutions.

The market for mobile accessories in India is expected to generate significant revenues by 2030, indicating a bright future for this sector. The desire for accessories that improve, safeguard, and personalize our mobile devices will increase as mobile technology develops. The convergence of technology breakthroughs will surely influence the market’s future direction, shifting customer preferences and an expanding digital lifestyle. Mobile accessories are positioned to play a crucial role in India’s digital transformation, whether it is by expanding device functionality, enhancing convenience through wireless solutions, or adhering to individual feature preferences.

So, keeping in mind the significant need for growth in such accessories, we at Nextech by Amson focus on manufacturing new products that contribute to market share. Being a prominent mobile accessories manufacturer in India, we provide various accessories, such as AV Connectivity, Display Cables, Power banks, universal chargers, and many more.