Why is Mobile Covers Market Booming in India?
Posted: Jul 23, 2018
As a part of the technological evolution that we as human beings have witnessed over the decades, owning a part of the world in the palm of your hands is still a feeling that never gets old. Our entire lives revolve around the dependency we have built with our smartphones. In fact, we don’t mean to make it sound like we are fortune tellers, but we are pretty sure you are reading this blog on your mobile phone itself.
Due to an increased exposure to the Internet, a part of the ‘Digital India’ initiative, the smartphone industry has witnessed a huge boom in business within the country, thereby directly boosting the consumption of mobile phone accessories as well. In fact, with the rise of varied smartphones that fit within every budget, the Accessories Market in India itself has a greater scope of expanding to new horizons. To put it into numbers, the year 2014 observed a smartphone user percentage of just 21.4%. However, 2 years later, the numbers rose to 29.8% as is expected to keep rising to almost 39% by the year 2019.
But what is it about India’s mobile sector that’s got everyone talking? To sum it up, here are a few reasons why it is the talk of the town.
- India’s middle-class segment possesses significant purchasing power
- 1/5th of the world’s mobile subscribers reside in India itself
- Popularity of apps available in the market
- The nation stands as the 2nd largest smartphone market in the world
- Significant rise in digital payments
With such statistics in the nation’s favour, it is only obvious that mobile phone accessories such as phone covers, selfie sticks, VR headsets and more are turning out to be some of the top-selling products in the business. However, in recent reports, products such as mobile phone protective cases along with earphones and headphones stand at the top of the chain, bringing in the most revenue for the business. In fact, with such numbers turning out to be profits for the industry, the mobile phone accessories market is estimated to be valued at $3,545 million once the year 2026 ends.
At Macmerise, we believe in giving the gadgets a distinct identity. We make products, which our customers take pride in. We stay true to our tag line..."doing the same differently.”