siliconindia | | May 20198Ritesh is an experienced professional with more than 15+ years in hardware and manufacturing of computer peripherals, accessories and lifestyle products.By Ritesh Goenka, Managing Director, Damson Technologieshe mobile phone in-dustry has evolved bigger than ever and one trend emerges even from a glancing retrospective: smartphones are as im-portant as ever. But they are coming to maturation. It is like a football su-perstar that no longer has the athletic ability to wow the entire audience by itself ­ and the time has come for the supporting cast to step up. This sup-porting cast very clearly being mo-bile phone accessories. With the rise in demand of both type and number of mobile phones, the mobile accessories market is only set to grow. These accessories are a must have these days, thereby cre-ating a market that is growing leaps and bounds year on year. A recent study on the mobile phone accesso-ries market in India reveals that rapid increase in sales of mobile acces-sories is directly proportional to the sale of smartphones in the country. The mobile phone market is expected to grow at a CAGR of 2.6 percent from the period of 2014 to 2020. Consequently, the mobile phone ac-cessories market would also contin-ue to grow and is expected to reach $107.3 billion by 2022.Geographi-cally, Asia-Pacific accounted for the largest market share of 47 percent in 2016 in the terms of revenue in over-all mobile phone accessories mar-ket. In Europe, mobile phone battery cases market is anticipated to behold the highest compound annual growth rate (CAGR) during the forecast pe-riod i.e. 2017-2023. North-America is expected to witness significant growth over the forecast period with a contribution of 14.0 percent in the total revenue of global mobile phone accessories market by 2023.Moving beyond global number data trends to fashion and lifestyle. Today, the humble smart phone ac-cessory like a phone case has become the most important part of a woman's wadrobe. For Louis Vuitton spring/ summer 2017 catwalk showshow in the Place Vendôme in Paris, the very first model on to the catwalk wore a gunmetal grey draped jersey dress and carried no handbag, but instead held in her hand a phone case styled as a tiny version of the classic mono-grammed trunk, complete with stud-ded edging and a miniature gold lock. The case is now on sale, for £745!With the rise of a new generation that calls itself Generation Z, the in-tegration of technology with fashion TIN MY OPINIONWHY PHONE ACCESSORIES ARE BECOMING MORE IMPORTANT THAN THE PHONE?
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