Indonesia to overtake Brazil and Mexico as 4th largest smartphone market in 2020
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Euromonitor International’s new data released Tuesday on the global consumer electronics industry also said 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.
The top-10 smartphone markets in 2021 are projected to be: 1. China 2. India 3. US 4. Indonesia 5. Brazil 6. Russia 7. Mexico 8. Japan 9. Philippines 10. United Kingdom
Questions & Answers
Q.What is the projected retail value of the wearable electronics industry by 2021?
What is the projected retail value of the wearable electronics industry by 2021?
The retail value sales for wearable electronics are projected to grow by 138% to become a US$45 billion industry by 2021. It will remain the world's second best-selling product category, behind smartphones.
Q.Which specific consumer electronics products are noted for resonating with shifting consumer preferences?
Which specific consumer electronics products are noted for resonating with shifting consumer preferences?
New products like smart wearables and wireless speakers, alongside innovations such as Ultra HD and convertible laptops, are resonating with changing consumer preferences. These items typically command higher retail selling prices.
Q.How will Indonesia's smartphone market compare to Brazil and Mexico by 2020?
How will Indonesia's smartphone market compare to Brazil and Mexico by 2020?
Indonesia is projected to surpass Brazil and Mexico to become the fourth largest smartphone market by 2020. This market is expected to reach nearly $1 billion in sales.
Q.Which country is projected to be the tenth largest smartphone market in 2021?
Which country is projected to be the tenth largest smartphone market in 2021?
The United Kingdom is projected to be the tenth largest smartphone market globally in 2021. China, India, and the US are expected to hold the top three positions that year.
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