Consumer Electronics

LATAM

Highlights

Revenue in the Consumer Electronics market amounts to US$92.9bn in 2024. The market is expected to grow annually by 1.99% (CAGR 2024-2028).
The market's largest segment is the segment Telephony with a market volume of US$45.0bn in 2024.
In global comparison, most revenue is generated China (US$198.5bn in 2024).
In relation to total population figures, per person revenues of US$146.10 are generated in 2024.
In the Consumer Electronics market, 0.00 of total revenue will be generated through online sales by 2024.
In the Consumer Electronics market, volume is expected to amount to 785.0m pieces by 2028. The Consumer Electronics market is expected to show a volume growth of 0.7% in 2025.0.
The average volume per person in the Consumer Electronics market is expected to amount to 1.2pieces in 2024.

Key regions:

Definition:

Consumer electronics refers to a range of electronic devices, appliances, and gadgets designed for everyday use by individuals. The market is highly diverse and encompasses various product categories such as personal computing devices, audio and video systems, mobile devices, and smart home technology. These products are developed with the aim of enhancing personal productivity, communication, and entertainment. Technological advancements, shifting consumer preferences, and a growing desire for cost-effective, easy-to-use, and high-performance devices are some of the factors propelling the consumer electronics market.

Structure:

The Consumer Electronics market is segmented into six main segments:

The Telephony segment includes devices such as smartphones, feature phones, and landline phones. This segment is driven by the increasing demand for mobile devices that enable communication and provide access to the internet.
The TV, Radio & Multimedia segment includes products such as televisions, radios, digital cameras, speakers, and headphones. This segment is characterized by the demand for high-quality, immersive entertainment experiences.
The Computing segment includes laptops, desktops, tablets, and other computing devices. These products are designed to meet the needs of individuals for personal and professional computing tasks.
The TV Peripheral Devices segment includes products such as smart streaming devices, smart remotes, and video players. These products are designed to enhance the TV viewing experience and enable individuals to access content from various sources.
The Drones segment includes unmanned aerial vehicles (UAVs) that are used for personal purposes. The drone market is driven by the increasing demand for high-quality aerial photography and videography.
The Gaming Equipment segment includes gaming consoles and VR headsets. This segment is driven by the increasing popularity of video games and the rise of e-sports.

Additional Information:

The market comprises revenue, average revenue per capita, volume, average volume per capita, and price. Figures are generated through both online and offline sales channels and include spending by consumers (B2C). Key players in the market are companies like Apple, Samsung, Huawei, HP, Dell, and Sony. These companies are leaders in their respective segments and are known for their innovative products, brand reputation, and extensive distribution networks. For more information on the data displayed, use the info button right next to the boxes.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on electronic and digital devices used privately either for entertainment (televisions, game consoles, smart speakers, etc.), communication (telephones, smartphones, etc.) or home-office activities (printers, copiers, etc.).

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Global Consumer Survey), as well as performance factors (e.g., user penetration, price per product, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, number of internet users, smartphone penetration rate, household number and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting electronic products due to the non-linear growth of technology adoption and regular product upgrade. The main drivers are GDP per capita, consumer spending per capita, and 5G penetration rate.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). GCS data is reweighted for representativeness.