Portugal's consumer electronics market has seen significant fluctuations between 2013 and 2023, starting with a turnover of 746.1 million euros in 2013 and increasing to 2,560 million euros in 2023. The most notable jumps occurred between 2016 and 2017 (+34.49%), and 2019 and 2020 marked a temporary decline of -12.18%, likely due to pandemic-related disruptions. However, a strong recovery followed, with a 14.27% increase in 2022 and a further 10.99% rise in 2023.
Key long-term trends:
- Overall annual growth has averaged 9.22% over the past five years.
- A 20.79% total growth forecasted from 2024 to 2028, with an average annual growth rate of 3.85%
Future trends to watch for include increasing consumer demand for smart and connected devices, technological advancements driving new product innovations, and potential shifts in consumer spending patterns post-COVID-19 stabilization.
