While consumer electronics was recording positive, if modest, growth in unit volume terms in Middle East and Africa in 2024, a number of countries in the region, particularly in Africa, were seeing falling sales due to prevailing economic circumstances, such as inflation, currency devaluations or import controls. Improved performances are generally expected in the region in the coming years, with smartphones, TWS earbuds and smart wearables likely to be among the main growth drivers.
This report comes in PPT.
The Egyptian authorities are looking to overcome the country’s recent economic challenges with the help of a USD35 billion development deal signed with the Abu Dhabi-based sovereign wealth fund ADQ as well as funds from the IMF, the World Bank and the EU.
Saudi Arabia launched the Alat company in 2024, aimed at creating a global hub for electronics and advanced industries in the Kingdom. The company is slated to strengthen innovation, manufacturing and research and development in the industrial and electronics sectors, with a focus on making products in seven key strategic business units, including semiconductors and smart appliances and devices.
While the e-commerce share continues to grow, reaching almost 16% in 2024, appliances and electronics specialists remain the dominant channel, with 58% of retail volume sales In Middle East and Africa. BNPL programmes are becoming increasingly popular, particularly in a period when inflation has been pushing up prices in many countries across the region.
Sales of smartphones may have only relatively recently overtaken those of feature phones in Nigeria, but it is smartphones that are now expected to power the increasingly strong growth forecast in the country’s consumer electronics market over 2024-2029, particularly with the ongoing expansion of 5G networks across Nigeria.
Consumer Electronics refers to the sales of Computers and Peripherals, In-Home Consumer Electronics, In-Car Entertainment and Portable Consumer Electronics to the end consumer.
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