Market Insights Consumer Consumer Electronics

TV, Radio & Multimedia - Mexico

Mexico

In 2024, the revenue in the TV, Radio & Multimedia market in Mexico amounts to US$4.4bn.
It is projected to grow annually by 1.92% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in this market segment, with US$39,900.0m in 2024.
In terms of per person revenues, in Mexico generates US$32.87 in 2024.
By 2029, the volume in the TV, Radio & Multimedia market is expected to reach 58.2m pieces.
There is an anticipated volume growth of 2.6% in 2025.
The average volume per person in the TV, Radio & Multimedia market is expected to be 0.4pieces in 2024.
This data highlights Mexico's position in the TV, Radio & Multimedia market.
Mexico's TV market is experiencing a surge in demand for streaming services, with platforms like Netflix and Amazon Prime gaining popularity among viewers.

Key regions: Europe, Germany, Brazil, India, Vietnam

Definition:

The TV, Radio & Multimedia segment covers a wide range of electronic products that are used to play, record, and manipulate sound and images, such as televisions, radios, digital cameras, speakers, and headphones. The technology used in these devices continues to advance, including innovations in high-resolution displays, advanced audio technologies, and AI-powered smart home systems. There is also an increasing tendency towards integration and wireless and mobile technologies. The demand for multi-functional devices, such as smart speakers with voice control and smart TVs with built-in streaming services, continues to rise.

Structure:

The TV, Radio & Multimedia segment can be broken down into several product categories:

Televisions: This category includes devices for displaying video content, including traditional televisions, LCD and LED televisions and smart TVs.
Radios: This category encompasses traditional radios as well as internet radios, which offer access to digital and online content.
Digital Cameras: This category includes devices used to capture still and video images, including point-and-shoot cameras, mirrorless cameras, and DSLR cameras.
Speakers: This category encompasses a wide range of audio playback devices, including stereo speakers, soundbars, and smart speakers.
Headphones: This category includes devices for personal audio playback, including wired and wireless headphones, earbuds, and noise-cancelling headphones.

Additional Information:

The market comprises revenue, average revenue per capita, volume, average volume per capita and price. Figures are generated through both online and offline sales channels and include spending by consumers (B2C). Key players in the market are companies like Samsung, LG, Huawei, Sony, Bose and Sennheiser. These companies are leaders in their respective segments and are known for their innovative products, brand reputation, and extensive distribution networks. For more information on the data displayed, use the info button right next to the boxes.

Market

Region

Region comparison

Currency

Analyst Opinion

In 2022, the TV, Radio & Multimedia segment witnessed a slight decline due to supply chain disruptions caused by geopolitical tensions and the rebound in consumption from the previous year. Economic slowdown, skyrocketing inflation rate and higher energy prices also lead to decreased consumer spending on home entertainment equipment. The global TV, Radio & Multimedia segment revenue landed on US$181 billion in 2022, marking a 2.2% decrease compared to 2021.

Despite the challenging conditions, established tech giants such as Samsung, LG, and Sony are expected to maintain their dominance in the market due to their strong brand recognition and product offerings across various audio and video devices, including smart TVs and smart speakers. Nonetheless, smaller players such as Roku, Sonos, and Vizio with innovative products and a focus on niche markets may also witness growth.

The long-term outlook for the TV, Radio & Multimedia segment is promising, with anticipated growth and evolution driven by advancements in technology and evolving consumer preferences. The increasing demand for high-quality video and audio experiences has created significant opportunities for companies in this market. The increasing popularity of smart home devices, including smart speakers and home theater systems, is expected to continue, enabling consumers to improve their in-home entertainment experiences. As a result, the TV, Radio & Multimedia segment is bound to profit from this development

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.