Market Insights Consumer Consumer Electronics

Telephony - Suriname

Suriname

in Suriname, a country South_America, is no exception to the global trend when it comes to the Telephony market.
In 2024, the revenue in this market segment is projected to reach a substantial amount of US$36.2m.
Looking ahead, the market is expected to experience a steady growth rate of 5.61% annually from 2024 to 2029 (CAGR 2024-2029).
While in Suriname contributes to the global Telephony market, it is important to note that the majority of the revenue is generated in China.
In 2024, [globalrevenue_currentlayer_yeartoday_maxcountrynameprep] is predicted to generate an impressive revenue of US$109.5bn.
This highlights the significant market presence and influence in China holds in the Telephony market sector.
To gain a perspective on the revenue generated per person, the figure stands at US$59.69 in 2024.
This metric is calculated by dividing the total revenue by the population of Suriname.
It provides valuable insight into the economic impact of the Telephony market on each individual in the country.
Looking beyond revenue, the Telephony market is also expected to witness an increase in volume.
By 2029, the volume is projected to reach 167.3k pieces.
Furthermore, the market is anticipated to demonstrate a volume growth of 1.7% in 2025.
When considering the average volume per person in the Telephony market, it is estimated to be 0.2pieces in 2024.
This metric is calculated by dividing the total volume by the population of Suriname.
It provides a measure of the extent to which individuals in Suriname engage with Telephony market services.
In conclusion, the Telephony market in Suriname is predicted to experience continuous growth in revenue and volume.
The figures demonstrate its importance within the global market, while also shedding light on the specific impact it has on the country's economy and population.
Suriname is experiencing a surge in demand for mobile telephony, with a growing number of consumers embracing smartphones for communication purposes.

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

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Analyst Opinion

The Telephony segment experienced a slight revenue decline in 2022, primarily due to market saturation and lower prices on 5G phones. Furthermore, many consumers have been delaying device upgrades due to financial concerns or future uncertainty. As a result, the global Telephony segment revenue for 2022 was US$473 billion, indicating a 5.4% drop from 2021.

The Telephony segment comprises major technology companies, including Apple, Samsung, Huawei, Xiaomi, and Google. With the vast majority of the world's population now owning smartphones, the demand for new smartphones is plateauing, resulting in intensified competition among players. In order to gain a competitive edge, smartphone manufacturers are focused on developing new features, creating closed user system environments with complementary devices, augmenting advertising and marketing efforts, engaging in cross-border collaborations, and waging price wars. These strategies will be crucial in driving growth and maintaining market share in the dynamic and competitive smartphone market.

With regards to further growth in the smartphones market, although penetration rates have nearly reached their maximum levels, we expect certain trends to further increase the global revenue of smartphones in the market such as the introduction of 5G networks and the increasing popularity of smart homes. As the world becomes more and more digital and connected, smartphones have proven to be an essential part of this transformation. In smart homes, smart products usually need to be controlled through an app in a separate digital device, which is where the smartphone plays the crucial role. The development of 5G could further develop this trend with the inclusion of electronic vehicles, and even entire cities being run like smart homes.

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.