Alexandra Borgeaud
Research expert covering cybersecurity and tech in Latin America
Consumer electronics in Mexico - statistics & facts
Nowadays, it is hard to think about a life without “consumer electronics,” namely, electronic devices that are purchased by users for daily and personal purposes. Driven by the ever-growing adoption of innovative technologies such as smartphones, tablets, and smart home devices, Mexico’s consumer electronics market has had a steady development over recent years, with sales volume expected to reach over 163 million units in 2024. That same year, Mexico’s consumer electronics sales revenue is forecast to exceed 17 billion U.S. dollars and increase by an additional two billion U.S. dollars by 2029. The telephony segment was forecast to generate the largest revenue in 2024, reaching over eight billion U.S. dollars, a trend expected to continue in the coming years.
As a result, and in addition to keeping up with the pace of technological developments, companies will undoubtedly have to adapt to these recent sustainability concerns to remain competitive.
Familiar brands at the top
In 2023, mobile phone sales far outweighed the demand for other telephony devices in Mexico, amounting to around 14 billion U.S. dollars. That year, smartphones generated over seven billion U.S. dollars in revenue, while landline phones recorded revenues of only 206 million U.S. dollars. When it comes to the smartphone market, Samsung regularly held the highest share in Mexico, surpassing Apple in 2023, with a market share typically ranging from 20 to 25 percent. With regard to tablets, Apple and Samsung dominated the Mexican market with an ownership rate worth 33 and 31 percent as of early 2024, respectively.Demand for smarter, greener devices
The consumer electronics market is strongly related to the development of the IoT market, as devices are increasingly interconnected so that users can use them to track various sorts of data. For example, over 30 percent of Mexicans were equipped with a smartwatch or smart wristband in 2023. Furthermore, in this ever more data-intensive environment, sustainability and energy efficiency concerns are nevertheless gaining in importance, with 44 percent of Mexican consumers reporting taking these aspects into account when purchasing electronics.As a result, and in addition to keeping up with the pace of technological developments, companies will undoubtedly have to adapt to these recent sustainability concerns to remain competitive.
