Electronics market in Mexico

The Mexican Electronics eCommerce market is predicted to reach US$7,612.8 million by 2024 and accounts for 23.4% of the total eCommerce market in Mexico. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 16.7%, resulting in a projected market volume of US$14,111.2 million by 2028. Within the Electronics market ECDB considers the following two sub-markets: Consumer Electronics and Electrical Appliances.

Market development

eCommerce revenue development in the Audio market in Mexico

The Mexican Audio eCommerce market is predicted to reach US$569.0 million by 2024 and accounts for 10.7% of the Consumer Electronics eCommerce market in Mexico. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 17.5%, resulting in a projected market volume of US$1,083.9 million by 2028. The Audio eCommerce market is a sub-market of the Consumer Electronics market. Further categories within the Consumer Electronics market are: Cameras, Computing, Fitness Trackers, Game Consoles, Other Consumer Electronics, Printers & Scanners, TV & Video, and Telecommunications.

eCommerce revenue development in the Audio market in Mexico

in million US$

eCommerce revenue growth in the Audio market in Mexico

in %

Net eCommerce revenue split by sub-category

in %
20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)29.076.946.279.34.48.628.445.7

Online share

eCommerce online share of the total Audio market in Mexico

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Mexican Audio retail market, the online share is 30.9% and will increase by an average of 6.5% to 39.8% by 2028.

eCommerce online share of the total Audio market in Mexico

in %
20202021202220232024202520262027
Online share (in %)56.2%59.2%10.4%29.0%70.3%91.9%54.3%31.5%

Market definition

Definition of the Audio market within the Electronics market

Market definition: Electronics > Consumer Electronics > Audio The category Audio includes the online trade of headphones (e.g. over-ear headphones, on-ear headphones, in-ear headphones), loudspeakers (e.g. bluetooth loudspeakers, hifi loudspeakers) and hifi equipment (e.g. stereo systems, compact systems, audio home systems). This category does not cover car multimedia (e.g. car stereos, car audio systems, bluetooth car kits) and streaming services or subscriptions. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Headphones (e.g. over-ear headphones, on-ear headphones, in-ear headphones)
  • Loudspeakers (e.g. bluetooth loudspeakers, hifi loudspeakers)
  • Hifi equipment (e.g. stereo systems, compact systems, audio home systems)

Out-of-scope

  • Car multimedia (e.g. car stereos, car audio systems, bluetooth car kits)
  • Streaming services or subscriptions