The importance of consumer electronics for Mexico cannot be overstated. Despite the coronavirus (COVID-19) outbreak in 2020, Mexico’s consumer electronics market has had an unstoppable development, recording one of the most significant sales volumes in 2020, at nearly 178 million units sold. Moreover, the pandemic seems to have accelerated the market’s growth. In 2021, the North American country’s consumer electronics sale revenue increased by approximately 6.5 percent, representing one of the highest increases in sales revenue since 2013.
Additionally, the manufacturing of electronic components, as well as audio and video equipment, were Mexico’s fastest growing industries in 2020. The city of Guadalajara in western Mexico - nicknamed “Mexican Silicon Valley” - has turned into a hotspot for software and electronics production, especially since it was chosen to host the official venue for the “Digital Creative City” project.
Telephone sales have far outweighed the demand of other consumer electronic sales. In 2020, telephones generated the highest sales, with over 6.7 billion U.S. dollars. When it comes to smartphones, Samsung had the highest market share in Mexico, totaling nearly 35 percent. However, the most popular smartphone in June 2021 was Huawei P30 lite. Led by the rising trends of digitization and streaming, TV sets, radios and multimedia devices followed in sales revenue, with TV sets recording an exuberant revenue - vastly surpassing digital cameras, speakers and headphones. Computer sales, both laptop and desktop, also belonged to the top products in the category.
The consumer electronics market is strongly connected to the development of the Internet of Things, which currently represents one of the fastest growing technologies in Mexico. Over seven out of ten people living in Mexico owned a smart TV, while nearly every household in the country was equipped with a TV set.
Given the omnipresence of cellular phones in expediting daily life activities, it is no surprise that mobile devices play a fundamental role in the growth of the Mexican consumer electronic market. Smartphones were the primary device used to access the internet in 2021, and also raked first when it came to music streaming. However, despite their unyielding demand, foreign electronic brands have far outcompeted the local products in the Mexican market. Consumers have shown to prefer brands such as Huawei, Samsung, Apple or Motorola over leading Mexican producer, Lanix.
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In the following 6 chapters, you will quickly find the 37 most important statistics relating to "Consumer electronics industry in Mexico".