Indonesia is Projected to Overtake Brazil and Mexico as the Fourth Largest Smartphone Market in 2020
SINGAPORE–(BUSINESS WIRE)–Euromonitor International released today new data on the global consumer
electronics industry.
According to the new data, global prospects for wearable electronics
continue to be strong with retail value sales projected to grow by 138%
to become a $45 billion dollar industry in 2021, remaining the world’s
second best-selling product behind smartphones.
“New products like smart wearables and wireless speakers and innovations
like Ultra HD and convertible laptops resonate with the shift in
consumer preferences. These products command higher retail selling
prices, helping boost profit margins of manufacturers and retailers,”
says Head of Consumer Electronics at Euromonitor International, Wee Teck
Loo.
While wearable electronics demand is growing, “Emerging markets like
India and Indonesia provide plenty of untapped opportunity for
smartphones due to the huge pool of feature phone upgrades. Indonesia is
projected to overtake Brazil and Mexico as the fourth largest smartphone
market reaching almost $1 billion dollar sales in 2020,” adds Loo.
The top-10 smartphone markets in 2021 are:
1. China
2. India
3. US
4. Indonesia
5. Brazil
6. Russia
7. Mexico
8. Japan
9. Philippines
10. United Kingdom
Key consumer electronics trends through 2021
Wireless speakers: Consumers paying for quality. Sales of
wireless speakers are projected to reach 73 million units, a staggering
25% growth over 2017-2021.
Portable computers: Convertible is convenient. Convertible
laptops and convertible tablets are gaining popularity due to their
convenience. Unit prices of laptops are projected to stabilise at US$620
over the forecast period, helped by the popularity of convertible
laptops. Convertible tablets will account for 40% of sales in 2021.
LCD TVs: More is better. The push for Ultra HD is paying
dividends for TV manufacturers, as consumers are easily sold on the
pretext that more pixels and higher resolution equate to better video
quality.
To learn more about Euromonitor International’s Consumer Electronics
research, visit: http://blog.euromonitor.com/category/consumer-electronics.
About Euromonitor International
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International is the world’s leading provider for global business
intelligence and strategic market analysis. We have more than 40 years
of experience publishing international market reports, business
reference books and online databases on consumer markets.
Contacts
Euromonitor International
Vesta Ratkevi?i?t?, +65 6429 0590 ext:
6597
Communications Executive
vesta.ratkeviciute@euromonitor.com
