Market Size of Latin America IT Device Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 1.10 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Latin America IT Device Market Analysis
The Latin American IT device market is expected to grow at a CAGR of 1.1% over the next five years. The higher demand for notebooks and personal computers during the time of the COVID-19 pandemic and the rising need to stay connected to people led to the demand for mobile phones across the region.
- The rapid implementation of the internet of things (IoT) across the region extends internet access to various devices that employ embedded technology to communicate and interact via the internet. This is increasing the demand for both innovation and more conventional and IoT-enabled devices like desktop and laptop computers, cell phones, and tablets.
- Smartphones have evolved into essential tools for people worldwide, and Latin America is no different, whether they are used for communication, information access, or entertainment. The booming e-commerce business in Latin America has a natural effect on the rise in smartphone use. Brazil, Mexico, and Argentina have the most potential online sales marketplaces, and the COVID-19 pandemic helped popularise online purchasing in these countries.
- However, Latin America is experiencing the highest rate of inflation growth in more than the last two decades. In Q1 this year, OEMs in Latin American markets were engaged in an intense price war, which lessened the effects of consumer demand that had begun to decline. However, this situation may die down in the future, particularly for smartphones in the mid-to-high price band segment.
- Furthermore, the launch of expensive smartphones in the market, coupled with the roll-out of 5G in the region, has pent up a sizeable market for mobile phones in countries like Brazil and Argentina. Notably, the spread of high-end smartphones in the market and the low purchasing power of Brazilians have contributed to the demand for refurbished second-hand smartphones in the country.
- The COVID-19 pandemic propelled computer/laptop and tablet sales across the region. The Brazilian computer market has witnessed a trend shift, and it is experiencing higher demand from enterprises of all sizes and the government sector. The post-covid demand for official computers has been robust in this region on the back of replacement orders of old, outdated systems that couldn't take place for the last two years. Also, the e-commerce market in Peru, Mexico, Argentina, and Colombia increased almost ten times during the COVID-19 pandemic, thereby driving escalated demand for smartphones in the area.
Latin America IT Device Industry Segmentation
As digitalization advances, hardware components are continuously updated to meet the most recent requirements. PCs and phones are the two sectors that make up the devices market in the technology market outlook.
The Latin American IT device market is segmented by type (PCs - laptops, desktop PCs and tablets, and phones - landlines, smartphones, and feature phones) and by geography (Brazil, Argentina, Mexico, Colombia, and Rest of Latin America). The market sizes and forecasts are provided in terms of value in USD million for all the above segments.
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Rest of Latin America |
Latin America IT Device Market Size Summary
The Latin American IT device market is poised for growth, driven by the increasing demand for notebooks, personal computers, and mobile phones, particularly during the COVID-19 pandemic. The rapid adoption of the Internet of Things (IoT) is further propelling the need for both conventional and IoT-enabled devices, such as desktops, laptops, smartphones, and tablets. The region's booming e-commerce sector, especially in countries like Brazil, Mexico, and Argentina, has significantly contributed to the rise in smartphone usage. Despite challenges like high inflation and intense price competition among OEMs, the market is witnessing a shift towards mid-to-high-end smartphones, supported by the rollout of 5G technology. The demand for refurbished smartphones is also on the rise, particularly in Brazil, where high-end devices are becoming more prevalent.
The Brazilian IT device market, in particular, has shown resilience, with a notable increase in personal computer sales and a strong demand from both enterprise and government sectors. The country's smartphone adoption rate is the highest in the region, with rapid internet coverage and a growing e-commerce landscape fueling this demand. Major players like Dell, Samsung, Lenovo, and Apple are actively expanding their presence in the region, while companies like Nokia and Huawei are investing in infrastructure and technological advancements to support the growing Industry 4.0 sector. The market remains fragmented, with key players continuously innovating and forming strategic partnerships to strengthen their positions in Latin America.
Latin America IT Device Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness-Porter's Five Force Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Consumers
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1.2.3 Threat of New Entrants
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1.2.4 Threat of Substitute Products
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1.2.5 Intensity of Competitive Rivalry
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1.3 Impact of COVID-19 on the IT Device Industry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 PC's
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2.1.1.1 Laptops
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2.1.1.2 Desktop PCs
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2.1.1.3 Tablets
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2.1.2 Phones
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2.1.2.1 Landline Phones
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2.1.2.2 Smartphones
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2.1.2.3 Feature Phones
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2.2 By Geography
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2.2.1 Brazil
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2.2.2 Argentina
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2.2.3 Mexico
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2.2.4 Colombia
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2.2.5 Rest of Latin America
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Latin America IT Device Market Size FAQs
What is the current Latin America IT Device Market size?
The Latin America IT Device Market is projected to register a CAGR of 1.10% during the forecast period (2024-2029)
Who are the key players in Latin America IT Device Market?
Samsung Electronics Co., Ltd., Lenovo Group Limited , Apple Inc , Xiaomi Corporation and Huawei Technologies Co., Ltd. are the major companies operating in the Latin America IT Device Market.