Consumer Electronics includes a wide range of products which are namely portable digital radios, TVs, Home theatres, In Car-entertainment, Household appliances, etc.
The Consumer Electronics segment in South and Central America reached a value of 10.5 billion in 2021, witnessing an increase of 4% from the previous year this was mainly on account of growth in the retail product categories after nations across the globe saw a recovery in the overall demand post-pandemic COVID-19. Moreover, both brick & mortar and online businesses resumed their operations after being under restrictions for a period of almost two years.
From the South and Central America region, Brazil contributes 2% to the global market share.
Furthermore, consumer spending on lifestyle products has increased and is expected to witness growth further in the near term on the back of the recovery from the pandemic.
The Consumer Electronics segment in South and Central America has seen a compound annual growth rate of negative 4.1% from the period 2017-2021. The de-growth in consumer electronics was primarily on account of lower consumption as the demand got impacted due to the outbreak of COVID-19 which restricted the growth in non-essential products.
Meanwhile, the Sale of consumer electronics is showing more growth compared to the retail sale with the changing consumer behavior and rising internet penetration. This trend went up more during the COVID-19 pandemic on account of lockdown measures in place.
The major Consumer Electronic players which have a strong dominance in South and Central America include HP, Dell, Cisco Systems, and, Apple In
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