Market Insights Consumer Consumer Electronics Telephony

Smartphones - Cuba

Cuba

In 2024, the revenue in the Smartphones market in Cuba amounts to US$0.7bn.
It is projected to grow annually by 10.69% from 2024 to 2029, according to the compound annual growth rate (CAGR).
When compared globally, in China generates the highest revenue in the Smartphones market, reaching US$105.5bn in 2024.
Taking into account the total population figures, the per person revenue in the Smartphones market in Cuba is estimated to be US$62.77 in 2024.
Looking ahead to 2029, the volume in the Smartphones market is expected to reach 2.9m pieces.
Additionally, a volume growth of 7.5% is projected for 2025.
On average, each person in Cuba is expected to have a volume of 0.2pieces in the Smartphones market in 2024.
Cuba, a country known for its limited internet access, experiences a growing demand for smartphones as more citizens seek connectivity.

Key regions: Brazil, Europe, China, United States, India

Market

Region

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Currency

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.