Consumer electronics in Hungary - statistics & facts
In 2023, the Hungarian consumer electronics market generated 1.6 billion U.S. dollars in revenue, showing a decline from the highest figure in 2021. Over the years, telephony became the leading segment, recording higher revenues than computing and entertainment electronics.
While some sectors within the consumer electronics industry, such as smartphones and personal computers, are predicted to experience declining sales, other categories like gaming devices will continue to fuel expansion. The total market revenue of consumer electronics is expected to reach nearly 1.7 billion dollars in 2029.
Smartphones are present in nearly all households
In 2023, it came as no surprise that smartphones were the most commonly utilized digital devices in the nation, registering a 96 percent adoption rate. In the same year, the market revenue of smartphones was worth 584 million U.S. dollars; however, this figure is forecast to follow a negative trend in the future. In recent years, the smartphone industry has been dominated by Samsung, occupying 41 percent of the market in August 2024. Xiaomi ranked second with a share of 23 percent, while Apple accounted for less than 16 percent of the smartphone market.Smart devices are gaining ground
The demand for IoT devices is on the rise as smart gadgets are becoming increasingly common in Hungarians’ homes. In 2022, nearly half of the households were equipped with a smart TV, while accessories like smartwatches and fitness bands also proved to be popular choices in terms of IoT devices. Even though smart appliance penetration rate is still relatively low, large smart appliances will be present in over 10 percent of Hungarian households by 2026. As for small household appliances, their penetration rate stood at four percent in 2023 and is expected to reach almost nine percent over the next two years.While some sectors within the consumer electronics industry, such as smartphones and personal computers, are predicted to experience declining sales, other categories like gaming devices will continue to fuel expansion. The total market revenue of consumer electronics is expected to reach nearly 1.7 billion dollars in 2029.
