Market Overview

The Mexico smartphones market size reached 22.76 million units in 2024 and is expected to grow to 29.95 million units by 2033, exhibiting a CAGR of 3.10% during the 2025-2033 forecast period. The market growth is propelled by increasing digital connectivity, expanding e-commerce platforms, and rising consumer demand for advanced features such as 5G, AI, and enhanced cameras. The youthful demographic and growing mobile banking and social media usage also contribute significantly to smartphone adoption.

Study Assumption Years

●     Base Year: 2024

●     Historical Year/Period: 2019-2024

●     Forecast Year/Period: 2025-2033

Mexico Smartphones Market Key Takeaways

●     Current Market Size: 22.76 Million Units in 2024

●     CAGR: 3.10% (2025-2033)

●     Forecast Period: 2025-2033

●     Growing internet penetration and affordable mobile data services are major growth drivers, boosting smartphone adoption across urban and rural Mexico.

●     E-commerce expansion and omnichannel retail strategies enhance availability and convenience, fueling sales growth.

●     Demand for affordable smartphones with advanced features like high-resolution cameras and long battery life remains strong.

●     The rollout of 4G and expansion of 5G infrastructure encourage consumers to upgrade to compatible devices.

●     Refurbished and second-hand smartphone popularity widens market access for budget-conscious buyers.

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Market Growth Factors

The increasing penetration of high-speed internet and affordable mobile data services significantly drives Mexico's smartphone market growth. Improvement and expansion of mobile networks like 4G and 5G have encouraged consumers to buy smartphones with network compatibility. Also, affordable mobile data plans provided by local telecom companies have made it financially easy for a larger population to access the internet on their smartphones, thus contributing to the growth of the smartphone market.

Growth of e-commerce and omnichannel retail has helped sales of smartphones in the country as well. It has given consumers more options regarding smartphone brands and models, and the convenience and price transparency of buying smartphones online or through dedicated direct-to-consumer websites. New promotions, flash sales and financing schemes also attract new buyers and upgraders. Legacy electronics retailers combine online and offline sales and cater to urban and rural markets. This situation increases competition.

Affordable smartphones including high-end features remain key to market growth in Mexico because consumers require price, performance, large displays, high-resolution cameras and long battery life. Global and regional brands have responded through pricing that is aggressive and feature sets that are high-end. Refurbished and second-hand phones expand the market. Budget consumers can access premium phones. Affordable options maintain appeal in changing consumer preferences, fueling the growth of the market.