The Rapid technological advancements offer new growth opportunities
The global mobile phone accessories market size was valued at $224.69 billion in 2018, and is projected to reach at $284.06 billion by 2026, growing at a CAGR of 3.1% from 2019 to 2026. Mobile phone plays an important and vital role in modern day to day life. Increase in the adoption of smartphones, as they offer effective connectivity to the digital world, majorly drives the mobile phone accessories market. Rise in demand for wireless accessories also boosts the market growth. This increase in demand is due to the change in customer preferences to listen to music on portable devices, such as smartphones and tablets.
Rapid technological advancements, including implementation of noise cancelling technology, Bluetooth/NFC speakers, and built-in fan and light in selfie sticks, are expected to offer lucrative growth opportunities in the near future. However, the imposition of tariffs on imports and exports among the leading manufacturing countries result in significant changes in the global technological landscape. The future market uncertainty restricts the companies to invest and reduce the pace of development.
Let us see what the industry speakers need to say about the various technological trends that are likely to disrupt the market.
Trend-Setters for 2023
Mr. Amit Khatri, Co-Founder, Noise
“Wearable lifestyle technology is in a state of constant evolution changing with the emerging needs of consumers. Currently, the industry is being steered by numerous factors – right from the rise in demand for valuable insights to innovative features and form factors that will eventually add new value to consumers. Emerging technologies such as AI, ML, IoT and robotics are playing a key role in bringing further advancements in technology and we can easily expect increased usage of the smart wearables in the coming months and years. The discerning Indian consumer is keen on purchasing a smartwatch that delivers what it promises, desired features packed at an aspirational price point. The importance of ergonomics and aesthetics is imperative in wearable devices as they are worn for a comparatively longer duration and are also seen as style statements and addition to being essential accessories. An extension of their style statement, smart wearables with emerging tech such as gesture control and smart touch interfaces are helping with seamless integration in consumers’ lifestyles. Consumers also consider whether the smartwatches stay true to their name and provide easy access to features such as tracking your fitness, instantly responding to messages and calls, hands-free experience, unstoppable usage without interruption, and seamless integration in a connected ecosystem.”
“The year 2022 ended on a high note with the launch of 5G. As the telecos continue to expand their network, more use cases will emerge, and it will revolutionize everything around us. Artificial intelligence (AI) has become an integral part of our lives and is found in everything from e-commerce to social media algorithms. In 2023, its adoption will increase significantly and augment nearly every job in every business. Robotics Process Automation (RPA) is another trend that is gaining popularity. The concept has evolved rapidly in the last decade and is likely to see widespread adoption in 2023. The adoption of IoT products has picked up in the post-pandemic world. With the launch of a wide range of wireless earbuds, smartwatches, and other accessories that can be connected to a phone, the IoT market is expected to reach newer heights this year. It is a big year for advancements in the AR/VR space. With virtual reality (VR) and augmented reality (AR) becoming more widely available, many businesses are turning to AR/VR trends and VR app development companies to develop new ways of interacting with the technology. The immersive technologies will also be intertwined with AI, which will drive the next growth phase. Blockchain is associated with the decentralization of the economy, but its applications are far and wide. In 2023, it will become more than just a solution for financial services. Through transparent and immutable record-keeping, it has already been about a redesign of the supply chain management of food, retail, logistics, and construction industries. Blockchain is also allowing us to transition from an ownership economy to a shared economy, in which we no longer need to own our items but can share resources such as cars, data storage, internet, solar energy, and others. Although blockchain technology is still in its infancy and requires additional regulation, there is little doubt that it will continue to evolve, significantly transforming inefficient and outdated business practices.”
Mr. Sayed Uzair, Co-Founder & Director, iCruze
“The trend that we foresee is that the market will be disrupted with wireless Portable Accessories like multi-hubs/charging stations, wireless supportive Airbuds, powerbanks, smartwatches etc.”
Mr. Anku Jain, Managing Director, MediaTek India
“The year 2022 saw the emergence of mega-trends in the industry where MediaTek delivered on its commitment to driving 5G ready flagship and premium technology experiences with its wide range of chipsets and maintained the leadership in 4G volume shares. Across the smart devices segment, MediaTek showcased its leadership in Smart TVs, smart speakers, smart displays, and Arm-based Chromebook, and emerged as No.1 in the Wi-Fi segment across Retail, Broadband, and Consumer Devices.”
Mr. Supriy Poddar, Founder & CEO, Mozu
“Artificial intelligence and machine learning technologies are becoming increasingly integrated into a wide range of consumer electronics, from smart phones and smart speakers to appliances and home automation systems. Also, these technologies are becoming increasingly integrated into a wide range of industries, from healthcare and finance to transportation and manufacturing. The roll-out of 5G networks is expected to accelerate in 2023, which will enable faster and more reliable wireless communication across a wide range of devices and applications. The number of connected devices is expected to continue to grow rapidly, as more and more everyday devices are equipped with sensors and connectivity.”
Mr. Sanjay Kalirona, CEO & Founder, Gizmore
“We witnessed impressive technological feats in 2022, and in 2023 these will move a notch higher. This will be the year when smartwatches and audio category products will offer even better features. The era of bigger, brighter displays is here. More consumers are now upgrading to these featured-packed smartwatches. Other features that are becoming mainstream in the budget smartwatches are the in-built GPS and AI support. In the audio range, we see products with better sound quality, enhanced battery backup and ANC being introduced. Along with styling, a lot of emphasis is also being laid on comfort so that users can wear them for long hours.”
Ms. Nikita Kumawat, Management Director, Brandworks
“In 2023, we will see smartwatches with eSim with functions which will enables the same mobile number to be used on the smeartwatch. The smartwatches for Sports enthusiasts will feature Ruggedness, Altimeter, Barometer, Deep water resistance etc. There will come up smartwatches with medical features to give accurate readings of functions like ECG, SPo2, BP, Heart Rate; there will be smartwatches for senior citizens with special security and safety features; and also there will be smartwatch for kids with appropriate security and safety features. In TWS, we will see more and more products with ENC and ANC technologies to give far better calling experience along with newer designs and concepts.”
Mr. Sukhesh Madaan, CEO, Blaupunkt
“Talking about 2022, we have seen a trend of new gadgets in the market with unique offerings in different segments such as headphones, earbuds and soundbars. Consumers’ need for high-quality microphone audio has never been greater. The rapid adoption of True Wireless Sound, smart homes, health gadgets, smart automobiles, and augmented and virtual reality headsets has raised consumer expectations for audio quality and microphone technology (TWS). Active noise cancellation for voice calls, transparency mode, spatial audio playback, and other features are all included in TWS. Due to their difficulty in distinguishing between the desired voice and unwanted background noise, consumer electronics have been obliged to deploy arrays of multiple omnidirectional microphones, which only work to a limited extent. Additionally, TWS earbuds are increasing in popularity and are driving up the price of audio-related components. To support the integration of intelligent assistants and immersive audio experiences, microphones are being added to more and more consumer electronics. Another significant development is the integration of AI computing and audio processing within APUs or SoCs for particular end systems.”
Mr. Arvind Rathore, Director, OUD
“The latest trends for 2023 are noise cancellation headphones, neckband and TWS at lower price points. Moreover, another trend is that the smartwatches with extra features at lower prices are coming up.”
“The upcoming trend would be the watches with larger screen size, higher resolution screen and built-in GPS. We expect 4G Android watches with dedicated SIM slot to hit market but still there is a lack of clarity from government side on its legality as this smartwatch has to carry IMEI number.”
Mr. Gopal Jeyaraj, Country Head – SAARC, Promate Technologies
“The 5G and AI led innovations can prove to be the game changers in the tech space. The world is revolutionising by incorporation of such technologies. It has been observed that the brands are gearing up to deliver more IOT-based lifestyle gadgets.”
Mr. Rohit Sabharwal, Director, CallOne
“CallOne is one of the leading and fastest-emerging suppliers of a world-class range of mobile phone accessories. In the current scenario, smartwatches are trending and this trend will further increase. Smart wearables will be way of life in 2023.”
Mr. Akhilesh Chopra, Sales & Technology Director, Bluei
“The technology world is evolving faster than ever. The year 2022 saw a huge spike in the demand for smartwatches. We saw many the new age brands as well coming into the market showing promising products with the emerging technology. Also, in Q4, 2022, we saw a spike in the demand for big party speakers. Some studies show that urban population wants to avoid the high costs of a DJ as long as they can. In line with these trends, we came up with new party speakers, ECHO series neckbands. In 2023, we are expecting the industry the demand will increase by 10X demand and we preparing our supply chain to meet that demand.”
Mr. Ujjwal Sarin, Founder and CEO, Nu Republic
“At the core of Nu Republic’s product development process are three cornerstones – Technology, Emotion and Design. We develop our products with the latest technology and most eye-catching designs which invoke ecstatic emotions for our users – who are our fans and the citizens of Nu Republic. We have been at the forefront of innovation with some of our standout innovations like Rouser Wireless, the first wireless neckband with LED lights, Starboy 3: the first wireless headphone with dedicated X-Bass slide & Starboy 4: the first wireless headphone with preset equalizer. CY 2022 was one a landmark year for Nu Republic. We expanded our reach and are available across 10000+ points of sales. The brand expanded to many new large format retail chains like Chennai mobile, Sangeetha mobile, James & SS Communication, and Aadishwar, amongst others. We also expanded our reach in General Distribution. We launched a total of 76 SKUs. Some of the products which stood out and propelled our growth were the Creed Smartwatch, which is a 1.9” Smartwatch with an Always-On display. The Bold Smartwatch has Realtek High Performance Chipset on Dafit platform, while Flash X5 / X5+ Wireless Neckband is a runaway-hit product with more than 1Mn units sold during the year. Rockstar Pro is our revolutionary new True Wireless Earphones with more than 100K units sold till date. We have also forayed into more consumer electronics like cables and chargers, with the All-in-One 25W that is a new charger which supports all fast charging technologies.”
Mr. Mandeep Arora, Managing Director, UBON
“Technology today is evolving at a rapid pace. In the coming years, consumer preference will be for music on the go. Wireless headphones and earphones are replacing their wired counterparts as they offer hands-free use and better compatibility with modern devices. Aside from that, smart wearable watches, such as fitness bands, are becoming increasingly popular.”
Ms. Midhula Devabhaktuni, Co-Founder and CMO, Mivi
“With many businesses expanding and representing India on a global scale, the nation has developed into a hub for software development and IT services. With the start of the new year, the industry is seeing several new trends, including the widespread adoption of artificial intelligence (AI) and machine learning (ML) in various industries, the emergence of 5G networks for faster and more reliable internet connectivity, the increasing popularity of edge computing for low-latency processing, and the development of virtual and augmented reality (VR and AR) for immersive experiences. In addition, more systems and devices are incorporating the Internet of Things (IoT) to increase automation and connectivity, and blockchain technology is becoming more and more popular for secure and decentralized data management. We are planning to incorporate all these technologies in all our devices someday; currently, our soundbars support the AI features of Google Assistant and Siri for easy use. New surge is seen in the smartwatch market in India where shipments increased by 30% year over year in Q3 2022, according to Counterpoint Research’s Global Smartwatch Model Tracker. During the quarter, India’s market grew by 171% year over year to become the biggest smartwatch market in the world. With the launch of Model E, we are looking to grow and be a leader in this growing market.”
Mr. Meet Vij, Founder & Director, LYNE
“India has been at the forefront of technological innovations such as AI, blockchain, augmented reality & virtual reality, machine learning & deep learning, robots, and natural language processing. 5G is will surely improve experience of the users.”
Mr. Paresh Vij, Founder & Director, U&i
“The market is strewn with smartwatches and we feel that this is one of the latest trends that are going to disrupt the markets.”
The Latest Disruptions
Mr. Amit Khatri, Co-Founder, Noise
“The global wearable AI market size according to a report by Grand View Research Inc is expected to reach USD 166.47 billion by 2030. The on-device AI operations segment currently dominates the market and is expected to witness the fastest growth owing to the increasing requirement for fast computing substantiating this key trend.”
“India has been at the forefront of technological innovations. The adoption of cutting-edge technologies, such as AI, blockchain, augmented reality & virtual reality, machine learning & deep learning, robots, and natural language processing, is at an all-time high. 5G is also making strong inroads into people’s lives. These technologies will be increasingly deployed this year and will become vital in product and process development.”
Mr. Sayed Uzair, Co-Founder & Director, iCruze
“Technology is changing very quickly and the new generation must be ready for 5G technology, and iCruze has started R&D on internet-based calling via smartwatches.”
Mr. Anku Jain, Managing Director, MediaTek India
“The year 2023 will likely be a tipping point of 5G adoption and MediaTek is committed to deliver on the promise of technology democratization, enabling a robust portfolio of devices catered to a wide range of use cases across different categories of consumers. We will continue to expand our 5G portfolio to include new-age tech including 5G thin modem, industrial M2M/IoT and emerging trends like Metaverse, Wi-Fi 7 and power management applications in Computing & Storage of the future. This year, MediaTek will continue its focus in the Flagship & Premium segment, including MediaTek Dimensity 9200 & 8200, Genio 700, Pentonic 1000, Filogic 380 and Filogic 880, Kompanio 520 and 528.”
Mr. Sanjay Kalirona, CEO & Founder, Gizmore
“With the launch of 5G, we expect more IoT devices to be introduced. Smart home products such as smart bulbs and switches will see greater traction. Additionally, voice commands will become more mainstream, and more people will demand AI-based features in their smart gadgets.”
Ms. Nikita Kumawat, Management Director, Brandworks
“AI will take centre stage in technological advancements. Platforms like ChatGPT have the potential to revolutionise AI BOTS to next level. Generative AI is supposed to play key role in generation of Videos, Images, Sound, 3D to next level. Fashion and Beauty industry will be using AI-based techs to detect skin types, scalp types etc to recommend ideal products to customers. Wearable technology will grow fast with new products coming in focused on Health, AR/VR, Safety, etc. Adaptation of 5G and Blockchain technology will open up new possibilities in the field of Telemedicine and Internet of Things (IoT). Metaverse and NFTs will drive innovations in immersive technologies.”
Mr. Hemang Budhdeo, Director, Stuffcool
“The 2023 will be will be remembered as the year when we cut the wires and adopted multi-tasking when it comes to charging our smart devices. Wireless charging that’s been around for some time, will not only become more accessible and faster but also will become more common for Android phones. In fact, wireless charging will also enter places it has never been imagined before – like cars, furniture and public places. Expect more charging products with built-in power banks and multiple charging coils that will allow multiple devices to be charged at the same time. Like with all technology, the more charging technology develops, charging products will become smaller and lighter. And of course, type C ports will take over the world making for better compatibility and faster charging. Stuffcool already has smaller, faster and multi-tasking products.”
Mr. Sukhesh Madaan, CEO, Blaupunkt
“The new technological advancements and innovation that will be further enhanced in 2023 are ENC (Environmental Noise Control) and ANC (Active Noise Control) along with AI. The market for wireless audio equipment is rapidly growing as a result of shifting consumer media consumption patterns and the rising use of mobile devices. Customers increasingly use their laptops, tablets, and mobile devices to wirelessly play audio on speakers. This kind of customer behaviour is what is causing the proliferation of Bluetooth and Wi-Fi enabled speakers. To capitalise on the growing popularity of the technology, manufacturers including Samsung, LG, Sony, Bose, Denon, DTS, and Qualcomm are also releasing wireless audio products or platforms. Popular Wi-Fi audio devices include the Echo speakers from Amazon, the SoundTouch system from Bose, and the Sony WiFi speakers.”
Mr. Arvind Rathore, Director, OUD
“Robotic Process Automation (RPA) will gain more traction in the coming months and years.”
“Voice Assistant will evolve more and the customers will start using it more frequently. The smartwatches will get smarter with AI apps.”
Mr. Gopal Jeyaraj, Country Head – SAARC, Promate Technologies
“In the Smartphone accessories space, with the launch of a wide range of wireless earbuds, smartwatches, the market is expected to reach newer heights this year. The gadgets at Promate are aimed to integrate with cutting edge technology and we also envisage to become the first entrant for the consumers at compelling prices.”
“For Bluetooth speakers, consumers opt for large-party Bluetooth speakers and soundbars with immersive sound quality and seamless wireless connectivity. With the large shift towards gaming industry, there are many companies focusing on low latency TWS buds, gaming headphones, noise cancelling quad microphones and many more gaming accessories.”
Mr. Akhilesh Chopra, Sales & Technology Director, Bluei
“With so many technologies emerging on so many fronts, it’s a challenge to keep up. Every advance is now termed as ‘the next big thing.’ For me, AI, ML and user interfaces such as speech and gesture recognition technology will advance to increase productivity or eliminate some knowledge work altogether. Nearly all the IT services and web apps could be delivered through the cloud with more enterprises using the public cloud as cyber security improves.”
Mr. Jasmeet Singh, Director, Portronics
“More hearables will come with noise-cancellation technology, which helps to reduce ambient noise and improve the listening experience. Additionally, there is a trend towards earphones with advanced features such as transparent hearing, which allows the user to hear their surroundings while still listening to audio.”
Mr. Ujjwal Sarin, Founder and CEO, Nu Republic
“At Nu Republic, we are constantly updating our portfolio to remain relevant to the growing demands of our fans – the citizens of Nu Republic. WearTech or wearable technology will be redefined for mass and class. From Smartwatches, True Wireless Earphones to neckbands and an array of new technologies will accentuate user experience. Supported by AI, it will elevate functionality of fitness-tracking, recommendations for music and voice assistance to make life simpler and on-the-move. We can also see smart jewellery that doubles up as utility apart from style. While 2022 was all about getting the experience of a smartwatch, 2023 will be about flaunting it with chunky designs that go for each occasion. The price table for consumer durables in the lifestyle electronics space will go down across industry, thereby making the category accessible to more people. True Wireless will become even more mainstream. We expect customers to move from wireless neckbands towards True Wireless solutions to accentuate experiences in the Metaverse, not just for gaming but new-age engagement across demographics. We will also see True Wireless and AI-powered, smart automation solutions in soundbars and personal speakers. Gaming products will continue to grow. The gaming armbands will come with lower latency, attractive form factors and massive upside in performance will dominate.”
Mr. Mandeep Arora, Managing Director, UBON
“Technological advancements and the popularity of wireless technology will likely propel the global growth of the mobile phone accessories market. With the higher mobility provided by the wireless charging technology, the user doesn’t have to carry the charger everywhere while travelling, which makes the technology futuristic. Furthermore, the major smartphone manufacturers provide wireless charging in their products making them reliable for future use as the industry is anticipated to boom at a faster pace.”
Ms. Midhula Devabhaktuni, Co-Founder and CMO, Mivi
“As the world progresses, it keeps getting more complex. Technology must be further incorporated into our daily lives in order to create fresh, better experiences that make life simple and hassle-free. As machine learning and artificial intelligence develop, we will see more sophisticated virtual personal assistants, recommendation engines, and predictive analytics. The Internet of Things will become more widespread, connecting a wider range of devices and appliances to the internet and making our homes smarter and more efficient. With faster and more dependable internet speeds and the ability to support new technologies like autonomous vehicles and smart cities, 5G network technology will spread more widely. As robots become more sophisticated and are able to carry out increasingly complex tasks, the field of automation and robotics will expand and revolutionize the manufacturing sector as well as other industries. In order to provide Mivi-ans and other customers with high-quality goods at reasonable prices, Mivi is looking to diversify its product line. We will be stepping into the world of IoT gadgets, PCs, and gaming accessories soon. Our interest in TVs and smartphones made in India has grown as well. In addition to expanding our portfolio, we are also enhancing and strengthening our current products.”
Mr. Vikas Jain, Co-Founder, Play
“There is going to be a big change for consumers and the consumer is going to be evolved then more of utilitarian aspects would come up with like translator on an audio device etc . So such utilitarian trends will drive the consumer focus.”
Mr. Meet Vij, Founder & Director, LYNE
“We expect more IoT devices to be introduced. Currently our focus is on high quality smart accessories.”
Mr. Paresh Vij, Founder & Director, U&i
“The market is strewn with smartwatches and we feel that this is one of the latest trends that is going to disrupt.”
New Technological Innovations
Mr. Amit Khatri, Co-Founder, Noise
“The smart wearable industry is growing exponentially, especially in the smartwatches and hearable segments, with homegrown brands leading the growth curve not just in the Indian ecosystem but also globally. With an increased focus on delivering a connected lifestyle experience with health at its core, smartwatches are becoming more popular day-by-day. Smartwatches allow consumers to regulate and monitor their style of living and be in sync with their health. The integration of new-age technologies like artificial intelligence and voice assistance into smartwatches is also something that is gaining traction. They ensure ease of use for making calls, playing music, checking the weather, etc., and let your smartwatch do as you command.”
“The 5G and AI-lead innovations can prove to be game changers in the health-tech space. The launch of 5G has opened many doors and will pave the way for more apps, use cases and even innovations. While organisations continue to invest in innovations that will transform lives, there will continue to be an equal focus on making these innovations available to the masses. Businesses will continue to evaluate ways to create products and innovations that are more accessible and available at cheaper costs.”
Mr. Sayed Uzair, Co-Founder & Director, iCruze
“The technology that is gaining traction today is improving the efficiency of wireless charging technology with fast charging which doesn’t impact battery life of Mobile phones.”
Mr. Anku Jain, Managing Director, MediaTek India
“We expect that technology will continue to evolve, and the smart home hub and connected ecosystem will shape up in modern homes in 2023. This includes industrial automation powered by 5G and technologies like Wi-Fi 6 and Edge, semiconductor tech for smart devices. Some of the other focus areas for 5G will be performance-driven applications including high-end gaming and HD video streaming, as well as enhancements in camera, battery, and display technologies. With our ground-breaking innovations across the diverse chipset portfolio, MediaTek will continue to break the barriers of power and performance in 2023.”
Mr. Supriy Poddar, Founder & CEO, Mozu
“Technology will enable these devices to get more personalized and customized as per the user needs. Smart wearables will become a very normal part of everybody’s lifestyle. We also might see a drop in prices of smart watches as make in India for smart watch will increase with government focus on made in India products. TWS ear buds will become more popular and useful with the launch of ENC technology for calling and ANC for music. TWS market is developing rapidly and in 2023 consumers can expect more advancements in this segment with better audio quality, better noise cancellation with both ANC and ENC, better battery life and better prices.”
Mr. Sanjay Kalirona, CEO & Founder, Gizmore
“Organisations are constantly evolving and engaging with innovation. Along with the quest to offer better products, they are also working on providing cost-effective alternatives. In 2023, we are hoping that sensors will become more cost-effective. The year 2023 will also be the year of humanoid robots. There has been a lot of chatter about the same, and we saw a fair share of them at the CES 2023. In smartwatches, we will see eSim enabling the same mobile number can be used on watch. We will see smartwatches for sports enthusiasts coming with features like Ruggedness, Altimeter, Barometer, Deep water resistance, etc; smartwatches with advanced medical features like accurate readings of ECG, SPo2, BP, Heart Rate etc; smartwatches for senior citizens with security and safety features; and smartwatches for kids with security and safety features. In TWS, we will see more and more products with ENC and ANC technologies to give far better calling experience along with newer designs and concepts.”
Mr. Hemang Budhdeo, Director, Stuffcool
“AI, Machine Learning and IoT technologies will gain traction! 5G, on the other hand, will create richer and faster digital experiences, and extend the geographical footprint of telecom networks and allow many people to access the internet. VR and AR is another space that is showing signs of maturity, but it will need a stronger push to make it part of everyone’s life. We are hoping that all these wonderful technologies and innovations find application and acceptance in fields like healthcare, education and agriculture to make a positive difference to our lives. Needless to say, the smartphone will be the primary device to access most of these tech advances and with it, Stuffcool and its tech-first, innovative fast charging products will continue to power these developments technology.”
Mr. Arvind Rathore, Director, OUD
“In neck bands, extra hours playtime and ANC and TWS voice answering will become more common.”
“The innovation has to come from the chipset side. We are expecting better chips and more accurate sensors with time ahead that will enable multiple functions at in the smartwatches.”
Mr. Gopal Jeyaraj, Country Head – SAARC, Promate Technologies
“We are working towards consolidation and concentrating with product-lines that can support multi utility/functions for our consumers and at the same time we are also focusing on the latest lifestyle trends.”
Mr. Rohit Sabharwal, Director, CallOne
“At Callone, we will come up with smart wearables, laptop chargers and explore the products which can gain popularity in international markets as well.”
Mr. Akhilesh Chopra, Sales & Technology Director, Bluei
“As the technology upgrades, it not only brings in cluttered competition, it also brings in reduction of prices of previous technology variants. This not only kills the existing margins but also raises questions on some of the very high-priced brands. Speaking specifically about our party speaker, we worked hard on its built quality, its pricing, its EQ Curve to suit the taste of Indian audience. Today, party speakers of many brands available in the market are very highly priced without giving much value to the customers, but our party speakers offer the best value-added features at reasonable prices.”
Mr. Jasmeet Singh, Director, Portronics
“Fitness tracking and heart-rate monitoring features are becoming more common in earphones too. Another trend is the development of earphones with advanced audio codecs such as aptX and LDAC.”
Mr. Ujjwal Sarin, Founder and CEO, Nu Republic
“Nu Republic will continue to drive innovation across categories and offer the best option at the point of sale. We remain committed in our desire to democratize tech and empower our fans to connect and express themselves. We also have faith in the rising consumer economy and more transparent supply chain communication and operations. Our innovations will be rooted in Technology, Emotion and Design. Speaking of Technology, we will build on our proprietary technologies like X-Bass for music systems and Power blitz technology for chargers and power accessories. Talking of design, we will build on the best looks and specs like LED lighting, vibrations and sturdy ulterior design of our products. With more features in wear-tech that stay with the user wherever they go, we will focus on longer battery life, more colours to accentuate emotions and strengthening connectivity integrating the latest apps and BT connectivity versions. Through smartwatches, we will bet on innovation for fashion as well as health and mobility, offering the best specs and options for mapping all body vitals like heart rate, SPO2, step count, calorie count, sleep quality and temperature, among others. For earphones, we will make innovations that compliment experiences in the Metaverse. Be it for online gaming or outdoor leisure, the experience will be high on capturing audio experiences and yet be sturdy and resilient. For power accessories, speed and safety will go hand in hand with the best proprietary technology and enhancements, materials that are durable and long-lasting, and fast-charging functionality for multiple devices through Type C or Micro-USB. All in all, we aim to accentuate emotions of the #citizens of Nu Republic with latest innovations, best-in-class features and durable materials that give the best wearable technology (WearTech) experience for all needs health, leisure and athleisure.”
Mr. Mandeep Arora, Managing Director, UBON
“In today’s tech-savvy world, everyone has now well aware of what to look for in a smartphone, and thus is more inclined to buy smartphone accessories that could complement their mobile device. To match with such demand, smartphone accessories manufacturers are launching new and quirky accessories that consumers cannot resist to purchase. Technological Innovations are the driving the demand for smart wearables and usage of headsets for VR has increased in the last couple of years. The VR headsets enable you to immerse into the virtual world and the technology has entered into the healthcare sector to help patients recover. Mobile photography is gaining popularity as complementary accessories such as camera lens, camera stand, and selfie sticks. Smartphone camera lenses are the most vital and effective way to improve the mobile photography experience.”
Ms. Midhula Devabhaktuni, Co-Founder and CMO, Mivi
“One of the major innovations we have brought to the industry is that quality-made products can be manufactured in India without any foreign help. In 2022, we were recognized as the most preferred brand in India, and we were quite proud of the same as we are the first brand in India that manufactures all our products at our facility in Hyderabad. All of our products deliver quality at affordable rates; we captured 25% of the market share in the home audio category 6 months after launching our products. All our TWS products are enabled with fast charging, noise cancellation, and amazing calling features in different designs and deliverables depending upon the audience’s preferences. We are planning to open a fully sustainable factory that works on renewable energy and houses all our machinery and employees under one roof.”
Mr. Vikas Jain, Co-Founder, Play
“In the coming times consumers will demand more playtime from audio devices and smartwatches will use body energy to power up.”
Mr. Meet Vij, Founder & Director, LYNE
“Since we start this brand recently, we want to establish a strong position of our present product-line in the market is our main priority. Nonetheless, we’re trying to play around with different technologies and designs to keep up with the needs of our consumers.”
Mr. Paresh Vij, Founder & Director, U&i
“U&i has been offering products that are a perfect blend of innovative technologies, unique designs, and compelling prices. This year, we plan to concentrate more on smartwatches and wearables. And airbuds (TWS) and high watt chargers are also expected sell high in 2023.”
In a nutshell
It is estimated that by the end of 2023, approximately 40% of India’s Gen Z and Millennial population will be frequent AR users. This alone is a strong indicator of how AR will enter the market. This year the usage of foldables is expected to increase and the prices set to come down. There will come up smartwatches with more medical features which give accurate readings of ECG, SPo2, BP, Heart Rate; smartwatches for senior citizens with special security and safety features; smartwatches for kids with appropriate security and safety features. In TWS, we will see more and more products with ENC and ANC technologies to give far better calling experience along with newer designs and concepts.
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