Argentina Consumer Electronics Market

Synopsis
The above chart is Argentina Consumer Electronics Market Outlook (2018 to 2032)

Market Dynamics

argentina consumer electronics market outlook will forecast a period of growth in the electronics industry for the next several years, while facing some challenges over the next decade. the demand for consumer electronics in argentina is expected to remain strong in the coming years. according to research firm idc, annual sales of electronics and related products and services in the country will reach us$19.3 billion by 2020, an increase of 4.2% over 2017. this suggests that although the industry is vulnerable to volatile global markets, there is still ample room for further demand growth. in terms of trends, argentina consumers are increasingly opting for high-end products with advanced features and processes. this is partly driven by advances in technology, as well as rising incomes and increased accessibility of such products. demand for consumer electronics, most notably smartphones and computer systems, has also increased due to a surge in digital consumption. further, the demand for wireless internet, home automation systems, gaming consoles and televisions are increasing as well, with a focus on quality, features and price. in terms of challenges, currency devaluation is a major factor due to the argentine peso’s decreasing purchasing power. this has made the purchase of imports more difficult and has also increased the cost of the imported components used in the consumer electronics industry. protectionism is another issue, as the government has imposed strict import tariffs that make international products more expensive and less competitive. in spite of these challenges, the demand for consumer electronics in argentina is forecasted to remain strong in the coming years, as the needs of increasingly tech-savvy consumers keep growing with rapid product cycles and new digital technologies. companies are expected to strengthen their own product portfolios while continuing to push for innovation in order to remain competitive in this dynamic market.