The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreOct 2018
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Strong shifts in consumer preferences to smartphones, and the growing average duration of replacement cycle of tablets and laptops, have resulted in a decline in the Latin American computers and peripherals market. Convertible laptops, even though expensive, are gaining popularity, especially amongst millennials, as they provide convenience for on-the-go usage. The future outlook looks promising for products with high technical specs, as consumers demand more connected products.
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The Latin American computers and peripherals market declined by an annual average of 7% CAGR in retail volume over 2013-2018, as consumers increasingly shifted towards smartphones for their daily computer activities, such as web-browsing, social media usage, entertainment and online shopping. Household possession of smartphones increased from 35% to 64% over 2013-2018.
Mexican companies are becoming increasingly open to flexible office hours and remote working. Increased employee mobility is now essential for businesses, and thus, many companies around the country are abandoning desktop computers and moving to business laptops. This, contributed to the volume CAGR of 6% for portable computers over 2013-2018.
Sales of the new convertible tablets with detachable keyboards are expected to grow, albeit slowly, as they appeal to young adults, despite their marginally higher prices than fixed alternatives. Also, the new category of printers with the functionality of being used via smartphones are likely to help revive the declining peripherals category.
Lenovo saw the strongest growth across the region over 2013-2018, owing to takeover of Motorola from Google Inc. in 2013, therefore posting a volume CAGR of 8% for computers and peripherals. Mexico and Chile remain significant markets for the company in the region. Lenovo continues its strategy of innovating to spur purchases, for example by offering convertible products at competitive prices.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.