With increasing competition in the smartphone industry, prices of mobile phones are dropping. Phones have become a vital gadget in modern-day life and demand for effective connectivity has been on an exponential rise. Numerous change in consumer lifestyle and preference is further bringing a range of highly portable devices and wireless accessories in the marketplace.
The fast proliferation of mobile devices and smartphones in the marketplace is redefining trends in the mobile phone accessories market. India is among the largest consumer of smartphones, and strong purchasing power of consumers have potentially raised the demand for mobile phone accessories. Furthermore, better pricing options along with the diversification of the product portfolio are leading to robust market growth.
As mobile phone accessories become a necessity consumers, manufacturers are focusing on producing more attractive, stylish, and technologically advanced products in a variety of vibrant and classic colors.
Demand for Wireless Charging Garnering Significant Momentum
Wireless charging has made a breakthrough in the mobile phone accessories market. Wireless chargers are now emerging as a trend and is expected to become mainstream in near future, with more smartphones and accessory brands offering support. As consumers’ quest for convenience and fast-paced mobile phone charging solutions is increasing, manufacturers are focusing on embedding wireless chargers into many electronic gadgets and smart furniture. Moreover, mousepads and alarm clocks are incorporated with a mobile phone wireless charger.
For a generation of consumers who utilize mobile phones as their primary channel to engage with brands, offering innovative way of charging is expected to become an integral part of improving customer experience. Significant advantages of wireless chargers are further likely to compel consumers to completely move away from power banks in the future.
Recently, wireless charging company, Powermat joined the Wireless Power Consortium (WPC), the developer of Qi wireless charging. The former company will its technology to WPC for the development of advanced wireless charges. Such strategic move is expected to influence other key players in the mobile phone accessories market to follow suit and invest in wireless charging technology.
APAC Continues to Leads Global Demand for Mobile Phone Accessories
Currently, APAC is the largest consumer of mobile phones, with China and India leading the cell phone usage followed by Indonesia, Philippines, Sri Lanka, and Pakistan. Increasing sales of mobile phones through strong online channels and multi-brand stores in these countries have a significant impact on growth of the mobile phone accessories market. Additionally, rapid development of telecommunication infrastructure network, high internet penetration, and falling prices of smartphones in the region is significantly driving the market growth.
Future of the Mobile Phone Accessories Redefined by Wireless Charging
Booming smartphone industry has been weighing on same scale as notable increase in demand for mobile phone accessories. Today, brands are focusing on the latest technological up-gradation to offer products at relatively low cost without compromising the quality. Modern technologies have also increased the competition in the mobile phone accessories market. Manufacturers are targeted towards diverse portfolio for high profit margins and stronger global footprint. In India and China, wireless charging is expected to bring positive changes in the market with a huge probability to meet international wireless technology standards in a short period of time.