MAG World Expo was the first of its kind exhibition dedicated to the said industry in the country. The idea was conceptualised to provide a platform for the domestic and global industry players to showcase their brands, latest products and technologies to the entire distributor and retailer community in an apt business environment. Through MAG, retailers and manufacturers within the industry would have the ideal opportunity to meet face to face with the manufacturers and brand owners, network, and build a mutually beneficial business alliance with one another.
The first edition of MAG took place in Bengaluru - the Silicon Valley of India from 10th to 12th March 2022. Home to some of the best domestic and international technology companies in India, the city of Bangalore proved to be the perfect fit for the first edition of MAG.
The 3-day power packed exhibition witnessed over 56 leading Indian companies in the Mobile Accessories and Gadgets manufacturing space as exhibitors. With each exhibitor allotted a dedicated stall of their own, they each displayed numerous brands of products under various labels. Companies also presented products that were developed, manufactured, and assembled within the country, in line with the government's Make in India initiative.
India is one of the biggest and fastest growing smartphone markets globally making smartphones an inseparable companion to most people. The industry is expected to thrive further and is projected to see 190-200 million shipments in 2022 alone with 5G looming on the horizon. With a substantial jump in the average selling price (ASP) of mobiles and higher volumes, the smartphone market revenue in India crossed $38 billion (27 per cent y-o-y growth) in 2021.
Another segment that will almost certainly piggyback off the smartphone boom is mobile accessories. Technically, the term ‘mobile accessories’ includes a wide range of items including fancy mobile covers, stands, safeguards, decorative pieces, earphones, headsets, dongles, chargers, memory cards, batteries, power banks, Bluetooth speakers, and other portable accessories.
The current market size of Mobile Accessories is projected to grow to 134.2 billion dollars by 2025 growing at a CAGR of 18.6%. This growth across the mobile accessories market is expected to propel many leading Indian brands across the 1000-crore mark by 2025.The increasing adoption of smartphones, usage of smartphones for work applications and unprecedented usage of the Internet have given a significant impetus to the mobile accessories market in India during the last few years. The technological advancements made in the field of mobile accessories and dropping prices due to competition is attracting large group of consumersfrom middle and low-income group to purchase mobile phone accessories.
MAG World expo also witnessed a first-of-its-kind summit, bringing together young turks of the industry where they participated in a session moderated by Mr. Manu Seth, Founder, CEO of Speaking Mindz Inc. The session addressed topics around latest technology trends in the mobile phone accessories segment, retail chain benefits and scope, after-sales service among Indian brands, and opportunities for the Indian mobile accessories in the near future.
Over the course of 3 days, MAG World Expo hosted over 2,500 visitors who included distributors, wholesalers, stockists, retailers, institutional buyers & e-commerce resellers from across South India.
Being a first-of-its-kind event, MAG World Expo was also a major talk point for media publications in the city. The event received widespread media coverage across various mainlines which included - The Print, Business Standard, The New Indian Express, The Hans India, as well as other leading vernacular publications in Bengaluru.
MAG World Expo 2022 proved to be major success within the community and industry altogether. The organizers received accolades from exhibitors, participants and industry leaders, who shared their thoughts on why such events are necessary and instrumental in the overall growth of the industry.