The advent of smart technology and superior connectivity has resulted in the increasing popularity of smart phones. With technological developments and increasing use of high-end gadgets, there has been significant growth in the demand for electronic accessories, especially the mobile phone accessories segment. This development is further supported by the technological advancements such as artificial intelligence and wireless technology, where the vendors of mobile phone accessories are gaining a competitive edge by offering technologically advanced mobile phone accessories to the market. The smart technology trend has been a major driver when it comes to the growth of the mobile phone accessories market.
Eco-friendly Mobile Phone Accessories Addressing Sustainability Demands
While the ascending demand for mobile phone accessories has benefitted manufacturers, the rising concerns of increasing e-waste on the planet remains an alarming issue. Recycling the e-waste is amongst the major ways in which this issue is being controlled. Furthermore, this has given rise to the demand for sustainable mobile phone accessories.
In line with this, companies are focusing on producing mobile phone accessories using eco-friendly raw materials. Co-founders of Mophie, a company recognized for manufacturing battery cases, have launched a new mobile phone accessories brand, Nimble, for providing new products that are built using plant-based bio-plastics, recycled aluminum, recycled plastic bottles, and hemp fabrics. Moving further towards their sustainability aim, the company has also opted for speckled TPE texture in place of toxic paints, with a plastic-free and completely compostable packaging.
Asian Economies Reflecting Major Potential
There has been a significant growth in the use of smart phones in major parts of Asia. Similarly, the region reflects a profitable avenue for mobile phone accessories manufacturers. The Indian mobile phone accessories market, for instance, has witnessed significant demand growth over the past years, with the increasing adoption of smart gadgets and devices. For example, M-tech Mobile, a mobile device manufacturing company has launched a new mobile phone accessories brand, Nexez, which will initially launch products in five major categories, earphone, headphone, power bank, Bluetooth speaker, and USB charger and cable.
Not only mobile manufacturers, but the retail companies from other nations such as China are eyeing on opportunities in the Indian mobile phone accessories market. WK Lifestyle, a retailer of electronic gadgets and accessories based in Hong Kong has planned to enter into the Indian market by opening nearly 200 stores across the nation in the forthcoming two years.
A team of expert analysts at Future Market Insights has published a research report after an extensive evaluation of the entire mobile phone accessories market. The research publication acts an effective business tool, comprising of a detailed market assessment with respect to the promising segments, the key areas of opportunities, and the ongoing market trends that are expected to influence the mobile phone accessories market. Furthermore, the competitive landscape included in the report provides necessary information regarding the strategies and developments carried out by prominent mobile phone accessories market players.
To gain an insightful overview of the mobile phone accessories market, click here.
