Market Insights Consumer Consumer Electronics Telephony

Feature Phones - Sri Lanka

Sri Lanka

The revenue generated in the Feature Phones market in Sri Lanka is projected to be US$53.3m in 2024.
This market is expected to experience an annual growth rate of -5.00% (CAGR 2024-2029).
When compared to the global market, in India generates the highest revenue with US$2,159.0m in 2024.
In terms of per capita income, each individual in Sri Lanka is estimated to generate US$2.46 in revenue in 2024.
Looking ahead, the volume of the Feature Phones market in Sri Lanka is expected to reach 0.8m pieces by 2029.
However, in 2025, a slight decline in volume growth is anticipated at -5.0%.
On average, each person in Sri Lanka is predicted to have a volume of 0.1pieces in the Feature Phones market in 2024.
Sri Lanka's feature phone market continues to thrive, with a significant portion of the population relying on these devices for basic communication needs.

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.