WHY THE MOBILE ACCESSORIES MARKET IS SURGING

Mobile Phones have become an integral part of our day-to-day activities, consequently making mobile phone accessories a necessity. Based on the purpose it serves, there are a variety of mobile phone accessories, providing uninterrupted usage, effortless handling, as well as making the most out of your smartphone. The growth of the smartphone industry over recent years boosted the smartphone accessories market as well. Besides, there are other reasons for the surge in the mobile accessories market. Before getting to know why the mobile accessories market is surging, let us go through some of the mobile accessories we use daily.

Mobile Accessories That Has Become A Requirement

The list of mobile accessories comprises a wide range of products from the most widely used Screen Protectors, Skins, Back Covers, and Cases, to the Power Banks that charge your phone when the battery drains out and the headphones that keep you entertained. Then there are charging adapters and data cables, most of which comes in-box with the smartphones. Still, there are other cables like OTG cables that are to be bought separately. Further, a variety of mobile phone holders are available that helps in hands-free navigation while driving or riding and in office or home applications such as video conferencing and streaming. Also, there are Selfie Sticks, Camera Lens Attachment, and Gimbals for super steady video recording. Speaking of wireless accessories, Bluetooth speakers, wireless headphones, wireless chargers, and smartwatches have already made life much easier and tangle-free. Besides, to expand your phone's storage, a range of USB OTG Flash Drives are out there.

Reasons For The Surge In Mobile Accessories Market

Now that we know the mobile accessories currently available in the market, let's have a look at the reasons causing a surge in the mobile accessories market.

Exponential Growth In Smartphone Sales

One of the major reasons for the surge in the mobile accessories market is without a doubt, the growth in smartphone sales. The rise in smartphone sales is fueled by a decrease in the price and an increase in the availability of smartphones. Besides, the spending capacity of people has improved over time. What's more, high-speed internet connection is accessible from almost every nook and corner of the country, therefore promoting smartphone sales, and of course, mobile accessories. Another notable reason for the upsurge in smartphone sales is the convenience of online shopping, with a bunch of online payment options and even cash on delivery. Above all, smartphones have become a fundamental part of our lives, and so are the accessories.

Increased Preference For Wireless Accessories

Everyone is fond of going wireless with the launch of wireless earphones and wireless chargers. Going wireless has certainly made listening tangle-free, and everyone is eager to get their hands on the latest wireless earphones as soon as they can. The comfort, affordability, and, sound quality, wireless earphones have to offer has made consumers prefer wireless over wired earphones. Besides, wireless charging is going mainstream too, and it eliminates the need for charging cables and travel adapters. A cordless charging experience is what most of them feel convenient to use, and leading smartphone manufacturers are rolling out wireless charging support in their latest devices. As a result, an increase in the sales of wireless chargers is definite as well.

Online And Offline Availability

Online shopping is thriving all over the country, and the products we need are just a click away. Needless to say, almost every mobile accessory brands have made their products available online. Besides, these products are priced considering low, mid, and high budget customers, thus attracting a majority of people. And obviously, online shopping is a driving factor in the growth of the mobile accessories market. Apart from online stores, the rapid establishment of offline stores is also a major factor in the market surge of mobile accessories.

Extensive Distribution Networks

These days, the dependence on online shopping is increasing dramatically, and so is the preference for faster deliveries. Hence online retailers are competing with each other in setting up the most extensive distribution networks. As a result, a majority of the e-commerce platforms deliver their products the same day or within a few days of ordering. At the same time, leading electronic brands are also setting up strong distribution networks. To be precise, all these contributed to the improved accessibility of mobile accessories and substantially its rise in the market.

Economical Price Tags

The mere availability of a wide range of mobile accessories alone cannot promote its market. Besides, the products need to be accessible by customers among all budgets. Thankfully, the rivalry between various brands on pricing their products has made this possible. Thus, almost every mobile accessory comes with a reasonable price tag that allures a wide range of customers. Ultimately, this causes growth in the mobile accessories market.

Power Interruptions

Most of us rely on our smartphones for our day-to-day activities, and we need an uninterrupted service from our devices. But there are chances when our devices drain out while traveling or due to power outages. And this is when power banks, one of the most selling mobile accessories, comes to the rescue. Thus, power interruption is one of the factors that directly or indirectly affects the mobile accessories market.

Advancing Technology

Not so long ago, the only mobile accessories we needed were chargers, data cables, and earphones. Times change, and so does the technologies. Advancing technology resulted in comfortable and flexible accessories along with increased demand for them. Consequently, this affected the mobile accessories market. Now, the list of mobile accessories we carry with us includes wireless earphones, power banks, smartwatches, and so on.

Conclusion

To be precise, the technological development over the past years has been spontaneous, resulting in state-of-the-art devices that are part of our lives. Consequently, mobile accessories too, have become a basic requirement. Moreover, the demand for mobile accessories has increased drastically with its wide availability. As a result, the mobile accessories market is experiencing an upsurge, and it is predicted that the surge may be observed in the years ahead as well.