Market Insights Consumer Consumer Electronics Telephony

Feature Phones - Puerto Rico

Puerto Rico

The revenue generated in the Feature Phones market in Puerto Rico is estimated to be US$7.4m in 2024.
This market segment is projected to experience an annual growth rate of -7.35% (CAGR 2024-2029).
When compared to other countries globally, in India leads in terms of revenue generation, with an estimated revenue of US$2,159.0m in 2024.
In relation to Puerto Rico's total population, the per person revenue in the Feature Phones market is expected to be US$2.57 in 2024.
Looking ahead, the volume of the Feature Phones market in Puerto Rico is forecasted to reach 87.7k pieces by 2029.
However, there is a slight decline expected in 2025, with a volume growth of -5.1%.
On average, each person in Puerto Rico is anticipated to have a volume of 0.0pieces in the Feature Phones market in 2024.
Despite the rise of smartphones, feature phones continue to be popular in Puerto Rico due to their affordability and reliability.

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.