Latin America Consumer Electronics Market Size & Outlook
Latin America consumer electronics market, 2018-2030 (US$M)
Related Markets
Latin America consumer electronics market highlights
- The Latin America consumer electronics market generated a revenue of USD 51,317.5 million in 2023.
- The market is expected to grow at a CAGR of 4.8% from 2024 to 2030.
- In terms of segment, smartphones was the largest revenue generating product in 2023.
- E-readers is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 51,317.5 million |
| Market revenue in 2030 | USD 71,482.3 million |
| Growth rate | 4.8% (CAGR from 2023 to 2030) |
| Largest segment | Smartphones |
| Fastest growing segment | E-readers |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Smartphones, Tablets, Desktops, Laptops/Notebooks, Digital Cameras, Hard Disk Drives, Television, E-readers |
| Key market players worldwide | Apple Inc, Asustek Computer Inc DR, BlackBerry Ltd, Canon Inc, Dell Technologies Inc Ordinary Shares - Class C, Alphabet Inc Class A, HP Inc, HTC Corp DR, Huawei Technologies, Lenovo Group Ltd, LG Electronics Inc ADR, Motorola Solutions Inc, Nikon Corp, Panasonic Holdings Corp, Samsung Electronics Co Ltd, Seagate Technology Holdings PLC, Sony Group Corp, Toshiba Corporation, ZTE Corp Class H |
Other key industry trends
- In terms of revenue, Latin America region accounted for 4.5% of the global consumer electronics market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,032,125.4 million by 2030.
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Consumer Electronics Market Scope
Consumer Electronics Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America consumer electronics market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to consumer electronics market will help companies and investors design strategic landscapes.
Smartphones was the largest segment with a revenue share of 51.2% in 2023. Horizon Databook has segmented the Latin America consumer electronics market based on smartphones, tablets, desktops, laptops/notebooks, digital cameras, hard disk drives, television, e-readers covering the revenue growth of each sub-segment from 2018 to 2030.
The high penetration of smartphones and 5G is expected to strengthen the consumer electronics market in Latin America. According to the Global System for Mobile Communications Association (GSMA), the smartphone adoption rate in Latin America was 74% in 2021 Emerging economies in Latin America, such as Brazil, Peru, Puerto Rico, and Colombia, have started the 5G spectrum allocation process and its commercialization.
Telecom providers have also started preliminary testing in the region for commercialization and upcoming 5G auctions. The growing traction of the digital economy in Latin American countries, owing to hybrid work culture and online education, has aided in the growing sales of laptops, tablets, and smartphones, thereby driving market growth.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America consumer electronics market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America consumer electronics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America consumer electronics market size, by country, 2018-2030 (US$M)
Latin America Consumer Electronics Market Outlook Share, 2023 & 2030 (US$M)
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