The increasing adoption of smartphones has contributed to the growth in demand for aftermarket accessories.
There are many accessories manufactures, both premium and cheap, and now many smartphone manufacturers like Samsung, Apple, Sony, Huawei, Lenovo and LG are also launching new accessories to get a pie of this highly lucrative market as smartphone margins have come under pressure.
Neelesh Bhatnagar, CEO of Target One, said that the trend that started a few years ago is continuing as more and more products are being added.
The accessories market has been segmented into protective cases, headphones, routers, Bluetooth speakers, chargers, memory cards, screen protectors, battery, power bank and hard disks.
“The need for power to charge the phone is increasing as more and more people are always on their devices, so, the demand for power banks is selling like hot cakes. Accessories has become a complete category of its own and a very significant one. It has become an integral part of electronics and consumer electronics retailers cannot ignore it today,” he said.
He said the new trend was the voice-activated accessories to control the devices and the USB-C connector as it allows users to charge, transfer, and sync at the fastest speed possible today.
The implementation of USB-C technology means an improvement in the capabilities of everyday devices like smartphones, tablets, and laptops. All USB-C cables have a reversible design, which means that users can seamlessly plug their USB-C cable into the UBS-C port without worrying about the orientation or direction of the plug.
Users will be able to rapidly charge, take advantage of the USB 3.1 data transfer speeds between their external devices, and connect audio video outputs such as HDMI, VGA, and DisplayPort with forthcoming adapters.
According to Credence Research, the mobile phone accessories market has been estimated to be valued at $60.42 billion by the end of 2016. It is expected to generate a revenue of $93.01 billion by 2023, expanding at an annual rate of 6.4 per cent during the forecast period.
Bhatnagar said that adoption of mobile devices by tech-savvy youth, especially females, was contributing significantly to growth in demand for mobile phone accessories as they look for premium and designer products.
Nadeem Khanzadah, Head of OmniChannel Retail at Jumbo Group, said that the accessories market has seen healthy growth across all segments over the last couple of years.
“The demand for covers and screen protectors are more for Samsung and Apple premium devices. The market has grown between 15 per cent and 20 per cent in the UAE when compared to the overall market and it is fairly good,” he said.
Aldrine from Switch, part of Axiom Telecom, said that people come to their stand to laminate their phone covers. It costs around Dh99.
“Customers can choose their design of choice and we paint it with a special ink. It is done by a machine. The demand is more for Samsung and Apple phones,” he said.
The service is also available for Apple’s AirPod for upwards of Dh1,000.