The increase of the smartphone increases the sales of mobile phone accessories

Mobile phone accessories play an important part in the day to day life. Most of us find it difficult to survive without a mobile phone. But the earphones, power banks, smartwatches. These accessories are very important. The technology market is growing by leaps and bounds year by year. This fact is hard to ignore.

The recent studies on mobile phone accessories increase the rapid increase in sales. The mobile phone market is expected to grow at a CAGR of 2.4% from the period of 2014 to 2020. The mobile phone market is continually growing and expected to reach $107.4 by 2022.

Major factors driving the growth of smartphone in the market:

The rise of the smartphone industry is influenced by the number of factors. These factors propelling a shift in consumer preference from the feature phone.

Rapid urbanization:

The population in the urban areas are going to be increasing day by day. the mobile phone parts become an indispensable part of urban life. A large number of consumers spend on smartphones and accessories.

Decrease the prices of smartphone

With the passage of time, the market size is also increased, and the number of marker players increased. The competition among mobile phone companies become tuff. The increasing volume has pushed the prices down significantly. Now the smartphones are within the reach of the common user, which further contributes to the volumes.

Strong distribution Network:

Mobile phone accessories become a style statement these days. The branded stores provide a wide variety of mobile phone accessories, which are colorful, unique and trendy. The companies offer the accessories that have a strong distribution network to promote and sell all the accessories all these factors driving growth, both business and consumer for some exciting times.

Ecommerce shopping websites:

The influx of e-commerce websites plays an important role in growing the mobile phone market in all over the world. It is increased by the usage and sale of the mobile phone. The special discounts are offers by E-commerce giants. Vertical e-commerce giants focused on the mobile phone accessories sector, it also led to an increase in the demand for accessories.

Exclusive launches:

There are several exclusive launches that they are heavily advertised and selling of units. The communication through apps increase eth awareness about the products, that smartphone offered a feature phone. The smartphone makes life easy, thanks to the big add spenders of the E-commerce industry.

Social media:

There are many social media platforms and websites that engage the users connected to the outside world, while you are staying at home. All become possible with the help of the attractive features available on the smartphone. In the current scenario. All the Ecommerce players like flip cart, amazon, latest one .com are engaged with the targeted audience by using the power of social media.

Social trends:

The popularity of social media and the internet has increased the demand for mobile phone accessories. The purchasing capacity has increased with the common shift, and shift the focus on the low price range, mid-price range, and high price tag. Online shopping has also triggered the demand for mobile phone accessories. These online stores sell the latest accessories at the market competitive prices. The most preferred distribution channel for buying smartphone accessories.

Technology advancements:

The mobile phone accessories may include the data cable, charger, and earphones, with the technology advancements, the people are more inclined towards the high tech mobile accessories.