With the increasing competition, the prices of smartphones are dropping. The launch of new technologically advanced mobile devices and accessories at affordable prices has created a burgeoning market demand for mobile accessories.
Mobile phones today play a vital role and have become essential in the modern day-to-day life, as they offer effective connectivity. This rise in demand for mobile phones is also boosting the demand for wireless accessories. This increase in demand is mainly due to the change in customer preferences like listening to music on portable devices, such as smartphones and tablets.
The rapid proliferation of smartphones and other mobile devices in the market is redefining the trend in mobile phone accessories. With India becoming the 2nd largest consumer of smart phones, mobile accessories have become an integral part for consumers who are willing to spend quite a reasonable amount on it. With the increasing competition, the prices of smartphones are dropping. The launch of new technologically advanced mobile devices and accessories at affordable prices has created a burgeoning market demand for mobile accessories. This has been further fuelled by rising mergers and acquisitions, diversification of product portfolio along with better pricing options are leading to an exponential market growth.
Accessories are being designed now not to just make phones smarter, but also to turn them into smarter cameras, smarter Audio Systems, smarter TVs and of course smarter computers. Besides complementing the features, performance, and maintenance of mobile handsets, these accessories are becoming necessities and the brands are focusing on manufacturing more stylish and attractive pieces in a variety of both classic and vibrant colors.
The key global players operating in the global mobile phone accessories market are Panasonic Corporation, Sennheiser Electronic GmbH & Co. KG, Sony Corporation, Samsung Electronics Co., Ltd., Apple Inc., Bose Corporation, BYD Co Ltd., Plantronics, Inc., Energizer Holdings, Inc., and JVC Kenwood Corporation, among others.
With people playing more and more apps and features, the battery power has become an important factor for all smartphone brands. Today, with mobile accessory brands competing with each other every month we see new innovations in designs and features in portable headphones, wireless charges, external battery packs, camera modules, VR headsets, keyboard peripherals and pocket-printers, disruption than smartphones. Here’s a look at a few key trends that will alter global market dynamics in the coming year.
The market of mobile phone accessories operates through a number of distribution channels such as online stores, single-brand stores, and multi-brand stores. By the end of 2026, the Indian market is projected to register a high CAGR of 10.4 percent, reaching a value of $3,545.0 million.
Imaging & Photography: This category includes portable photography studios, smartphone stabilizers and GoPro accessories which are easy to use and well-built to deliver powerful image quality. The newly launched portable photography studios are easy-to-carry-and-use and you can assemble a professional photo studio anywhere and anytime in a matter of seconds. While smartphone cams are getting better and better each year, using a smartphone camera rig lets you capture high-quality footage with much ease. The new advanced smartphone stabilizers with lens kit make your smartphone’s camera more powerful and versatile. Clip-on lenses and pocket flashes are allowing smartphones to take near-professional-quality photos. Demand for more powerful lenses that couple with a flash can only see higher demand in 2019 going forward.
Wireless Charging: Today, we see a lot more smartphones coming out with wireless charging support and wireless chargers will soon become mainstream with more accessory brands and smartphones offering wireless charging support. Wireless chargers are getting embedded into many gadgets, smart furniture.
Fast Charging: With life getting busy, time getting shorter, people want fast charging. USB Chargers with higher current outputs (2.4A and above), more stable and rugged braided cables, QC technology and the move towards Type-C Connectors are the main innovations for fast charging and going to gain much more traction and become mainstream by 2019.
High capacity Memory Data Cards, Flash Drives: Everyone loves clicking pictures or listening to music! With smartphones offering great camera quality, the space utilized for photos and videos is high for which you do need a handy memory data card and flash drive. With the increase in media files that we keep saved on our phones, be it photos, music or videos, we have started facing storage issues on our smartphones. There are files that we may not want to save permanently on our phones, but we need them handy with us at all times. Thus, comes into play, OTG Pen Drives. Coming year will see a rise in Mobile-Computer Dual pen drives. Likewise, various Charging Cables will be launched with slots for inserting memory cards that act as storage devices.
Wearables & VR Headsets: Most of the big technology firms have shifted their primary focus on making wearable gadgets better and take them to the next level. The latest tech, allows you to enter virtual world using the VR headsets. We are expecting this category to revolutionize the entire mobile accessory industry.
Portable Power Banks: With the increasing features and usage of smartphone, has made powerful power banks a necessity, particularly while on the go. The current innovation in this segment is trending towards lighter, sleeker power banks that can carry higher capacities, have inbuilt sturdy cables and can fast charge multiple devices at the same time.
Wireless & Wired Audio: Audio gadgets like headphones, earphones and Bluetooth speakers will continue to be one of the top-selling mobile phone accessories in India. Customers are gradually shifting from wired to wireless and the trend is set to pick up next year. Now, brands have started investing more in R&D to improve wireless connectivity distances, craft more ergonomic and specialized designs for different types of users – for instance light and foldable for travel, better stable fit for fitness activities like jogging/running, water proof for swimmers, etc. Wireless Earbuds have become a growing trend as well for a user who is always on the go. With wireless tech gaining popularity, battery consumptions too have become a bigger concern. Portable Bluetooth Speakers is another category with increasing demand, and 2019 will see sleeker and more powerful wireless speakers with long lasting batteries and more user-friendly designs. Speakers that simply attach to phones directly or double up as phone stands while watching videos are some interesting designs to look forward to.
Other OTG/Wireless Attachments: Pico projectors and pocket printers are set to take the market by storm. The mini-portable printers can make the printing process a breeze with some supporting customization of photos with borders and emojis. A little larger than smartphones, Pico projectors are ideal devices for on-the-go entertainment and business purposes. The convenience that these devices offer can spur the demand and growth.
Protective phone cases and screens: These are all-time favorite accessories as every model that comes out will need one. Phone cases that offer protection from shock, falls, and dust and water damage will continue seeing a strong demand. Few owners will be willing to risk screen damage in pricey brands whose replacement costs can be much higher. With demand for high cost premium phones increasing, the demand for screen protectors for the pricey phones too will correspond strongly with the demand for the high-end phones.
[Source: Allied Market Research https://www.alliedmarketresearch.com/mobile-accessories-market]
[Source: Allied Market Research]
The things are happening fast, the innovations in the mobile accessories are taking much faster than we can imagine. Gadgets and features which once believed to be the privilege of the rich and elite are becoming mainstream and common place. The popularity of social media and internet has also resulted in the rise in the demand for mobile phone accessories. With per capita incomes and disposables incomes increasing, people tend to move more towards luxury items from necessities. So we can see demand for accessories continue to increase.
[Source: Allied Market Research]