Market Insights Consumer Consumer Electronics Telephony

Feature Phones - Nigeria

Nigeria

In Nigeria, the revenue in the Feature Phones market is projected to reach US$0.4bn in 2024.
This market segment is anticipated to experience an annual growth rate of -4.62% (CAGR 2024-2029).
When compared globally, the highest revenue is generated in India, amounting to US$2,159.0m in 2024.
In terms of per person revenues, in Nigeria is expected to generate US$1.66 in 2024.
Looking ahead, the volume in the Feature Phones market is estimated to reach 5.7m pieces by 2029.
However, there is a slight volume decline projected for 2025, with a growth rate of -5.0%.
On average, each person in Nigeria is expected to have a volume of 0.0pieces in the Feature Phones market in 2024.
Despite the growing popularity of smartphones, feature phones continue to dominate the Nigerian market due to their affordability and long battery life.

Key regions: Europe, Canada, India, China, Worldwide

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Methodology

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.