Accelerating rapidly at a CAGR of 10%, the Indian mobile phone accessories market is forecasted to garner robust growth and revenue by the end of 2031. With unprecedented opportunities driven by the adoption of mobile phones and future-centric technologies, exhibitions have emerged as a confluence of tier two and three players to actively participate in dialogues, promotional collaborations and seek potential growth opportunities.
As a frontliner, Convergence India Expo 2023 serves as a platform for thriving smartphone companies, accessories manufacturers and promoters to build on great networking opportunities, investments, technology transfers, and more.
The Indian mobile phone accessories market holds a significant share of the global market, valued at USD 248.9 billion in 2021. With spurring innovation and the advent of new wearable technologies, the market is projected to value at USD 335.50 billion by the end of this decade, growing at a CAGR of 3.4%.
Supporting the Indian government’s efforts to revive the old-lost domestic mobile device industry, Convergence India Expo pushes local brands to move out of shelves slowly but steadily. With the dip in demand for Chinese mobile accessories, it is the right time for Indian manufacturers to hold a grip on the 340 million smartphone users in India.
Changing Market Dynamics: An Opportunity To Set Feet
The sudden surge in demand for smartphone devices and accessories has resulted in parallel offline and online markets, majorly dealing with imported products. Following the Indo-china conflict, consumers looking for low-cost yet durable counterfeit products move to Indian brands.
The increased demand for enhanced camera and sound quality has ignited rapid technology development in smartphone accessories. Now is the time for local brands for camera lenses, stabilisers for video recording, instant printers, headphones, and speakers to play and overcome shortcomings.
The development of events and exhibitions like Convergence India Expo will restructure the long-lost Indian mobile device manufacturing market; however, a few gaps need to be bridged for a stable boost. As the government has imposed a ban on several Chinese brands, Indian brands will have to make a virtue of it.
Supporting the country’s tech transformation, Convergence India Expo 2023 brings together the biggest tech community, manufacturers, planners, and stakeholders from India and all across the globe. Showcase your product & strategies, and find promoters, investors and like-minded peers to stay up-to-date with the latest technology and solutions from senior dignitaries from the government and public sector.
