The rapid proliferation of smartphones and other mobile devices globally has shaped up the market for mobile phone accessories. Today, mobile accessories have become an integral part for consumers who are willing to spend quite a reasonable amount on it. An increase in disposable income in developing economies and a dip in the prices of smartphones, coupled with the launch of new technologically advanced mobile devices and accessories has created a burgeoning market demand. This has been further fuelled by rising mergers and acquisitions, diversification of product portfolio along with pricing options given to end-users leading to an exponential market growth.

Accessories are now being designed to not just make phones smarter, but to also turn them into smarter cameras, smarter Audio Systems, smarter TVs and of course smarter computers. Besides complementing the features, performance, and maintenance of mobile handsets, these accessories are considered as a style statement with brands focusing on manufacturing more stylish and attractive pieces in a variety of both classic and vibrant colors.

Any feature of a mobile phone boils down to one thing – how much battery it consumes. In addition, the volatile electricity sources in many parts of India, and long lasting power become the most important factor where a large part of the mobile accessory innovation is happening. There lies a future ahead of us where portable headphones, wireless charges, external battery packs, camera modules, VR headsets, keyboard peripherals and pocket-printers will hold more potential for disruption than smartphones.

Here’s a look at a few key trends that will alter global market dynamics in the coming year.

Fast Charging: USB Chargers with higher current outputs (2.4A and above), more stable and rugged braided cables, QC technology and the move towards Type-C Connectors are the main innovations for fast charging and going to gain much more traction and become mainstream by 2018.

Portable Power: Power Banks have already become an essential mobile accessory to phones. It is anticipated to foster the industry of mobile accessories in the years to come. By the end of 2026, there will be a surge in sales of power banks in India which is estimated to account for more than US$ 350 million in revenue. The current innovation in this segment is trending towards lighter, sleeker power banks that can carry higher capacities, have inbuilt sturdy cables and can fast charge multiple devices at the same time.

Wireless Charging: Elimination of cables allows clutter-free charging and the digital crowd loves it. Currently, very few phones support wireless charging thus, the availability of wireless chargers are limited in the market. With the increase in such smartphones and consumers placing significant value on wireless charging, it will soon become mainstream.

Wireless & Wired Audio: Audio Gadgets such as headphones and earphones have always been and will continue to be one of the top-selling mobile phone accessories in India. However, the customer demand from wired to wireless has been noteworthy and will continue to be such. Brands have started investing in R&D to improve wireless connectivity distances, craft more ergonomic and specialized designs for various types of users – for instance light and foldable for travel, better stable fit for fitness activities like jogging/running, water proof for swimmers etc.

Wireless Earbuds have become a growing trend as well for a regular user who is always on the go. With wireless tech gaining popularity though, battery consumptions have become even a bigger concern. Portable Bluetooth Speakers is another category with increasing demand, and 2018 will see sleeker and powerful wireless speakers with long lasting batteries and more user-friendly designs. For instance, speakers that simply attaches to phones directly or double up as phone stands while watching videos are some interesting designs to look forward to.

A little larger than smartphones, Pico projectors are ideal devices for on-the-go entertainment and business purposes

Imaging & Photography: In this category we have Pocket Flashes, Clip-on Lenses and Plug and Play 3600 cameras which are convenient, well-designed, and easy to use, and leverage technology to deliver powerful image quality. Pocket Flashes provide continuous lighting that you can either hand-hold or plug into your phone’s headphone jack. On the other hand, Clip-on Lenses include fisheye, wide-angle, and 10x macro lenses which magnetically adhere to mobile devices and easily mount onto smartphones.

Storage: With the increase in media files that we keep saved on our phones, be it photos, music or even videos, we have started facing storage issues on our smartphones. There are files that we may not want to save permanently on our phones, but need them handy with us at all times. Thus, comes into play, OTG Pen Drives. Coming year will see a rise in Mobile-Computer Dual pen drives. Likewise, various Charging Cables will be launched with slots for inserting memory cards that act as storage devices.

Other OTG/Wireless Attachments: Pico projectors and pocket printers are sure to take the market by storm. The mini portable printers can make the printing process a breeze with some supporting customization of photos with borders and emojis. A little larger than smartphones, Pico projectors are ideal devices for on-the-go entertainment and business purposes. The convenience that these devices come with ensures a greater demand and growth.

Wearables & VR Headsets: These are the biggest innovations that will rule the coming year. Tech firms have turned their focus to wearable gadgets, mainly Fitness Trackers and Smartwatches as they will be the next big source of growth. Additionally, Virtual Reality has already started to take off allowing users to enter a virtual world using headsets or mobile devices. It holds the potential to revolutionize the entire industry.

The market of mobile phone accessories operates through a number of distribution channels such as online stores, single-brand stores, and multi-brand stores. According to Future Market Insights’ report, it is estimated that sales of mobile phone accessories in India alone reaped $1,202.7 million revenues in 2015. By the end of 2026, the market is projected to register a high CAGR of 10.4 percent, reaching a value of $3,545.0 million.