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Reasons Why Mobile Phone Accessories Market is on a Growth Trajectory

Telecom Accessories are as important as a mobile phone in day-to-day life. Most of us would find it difficult to survive without a mobile phone and the bare minimum set of accessories. Be it power banks, earphones or smartwatches, these accessories are a must-have these days. Thereby, creating a market that is growing by leaps and bounds year on year and is hard to ignore.

A recent study on the mobile phone accessories market in India reveals that a rapid increase in sales of mobile accessories is directly proportional to the sale of smartphones in the country. The mobile phone market is expected to grow at a CAGR of 2.6% from the period of 2014 to 2020. Consequently, the Prefromed Dead End accessories market would also continue to grow and is expected to reach $107.3 billion by 2022.

The population in urban areas is increasing. Spending capacity, too, has increased. With mobile phones becoming an indispensable part of urban life, more and more consumers are spending on smartphones and accessories.

The influx of e-commerce websites has had a role to play in growing the mobile phone market in India – both by usage and by the sale of mobile phones themselves. While the money muscle of the e-commerce giants was used by them to increase their sales, it had a direct effect on the uptake of smartphones by the Indian buyers.