(2024) Trends in Southeast Asia’s Electronics eCommerce Market
Southeast Asia is one of the most dynamic economic engines in the Asia-Pacific region. With a population heavily concentrated in the 18-64 age groups, as well as high smartphone penetration rates and increasing disposable income, the eCommerce consumer market presents great opportunities for international brands looking to enter the region. For the last 2 years, TMO Group has been helping brands—including the Electronics Industry—explore and successfully enter the SEA market.
In Q3 2024, the Southeast Asian smartphone market reached 25 million units, a year-on-year increase of 15%. In addition to popular brands like Xiaomi, Huawei, and OPPO having recently entered and consolidated in these markets, we have also observed the growth of newer entrants such as Amazfit and CRONOS smartwatches, showcasing the blue ocean status of the region and the opportunity for overseas brands to expand into it.
Having collected first-hand market data from around 1,200,000 SKUs across Shopee and Lazada, the two major marketplaces in the region, we analyzed the market structure, categories, best-selling brands, price ranges, and consumer trends across the 6 countries with the biggest online eCommerce markets: Indonesia, Malaysia, Thailand, Vietnam, the Philippines and Singapore.
Now, let’s dive into the key takeaways from our research into Southeast Asia’s online retail landscape for the Electronics industry using sales data from June 2024. We will also cover some findings of the different subcategories within the segment.
1. Southeast Asia Electronics: eCommerce Market Share by Country
For our research, we divided the Southeast Asian electronics market into 3 sub-categories, taking Shopee's top-selling products:
Mobile Phones & Tablets
Computers & Accessories
Smart Wearables
Mobile Phones & Tablets is the most popular sub-category on Shopee and Lazada, accounting for 59.9% of sales. Computers & Accessories ranked second, with a market share of about 32%.
Within Mobile Phones & Tablets, smartphones are in the highest demand and account for 60.9% of the sub-category's sales. However, mobile accessories have also demonstrated good sales performance and growth, with brands like UGREEN, Baseus and Anker ranking in the subcategory's top 30%, thanks to products like charging and data cables, power banks, and docking stations.
As for Computers & Accessories, Data Storage & Hardware—USB Flash Drives, SSDs, Graphic Cards...— have the highest market share.
Looking to boost your eCommerce competitive intelligence? Our Customized Marketplace Reports are tailored to support your brand’s data needs with detailed analysis.
3. Southeast Asia Electronics: Best-Selling Brands
In terms of brands, the Mobile Phones & Tablets sub-category is dominated by Chinese brands, which occupy 8 out of the top 10 best-selling companies. Apple, OPPO, and VIVO take the top three spots while Tecno, another Chinese brand aimed at emerging markets like the Middle East, Africa, and Latin America, takes the 10th spot in the ranking.
As for Computers and Accessories, the picture is somewhat different. While Chinese brands show some potential, European and American brands dominate in computing and data storage, while Japanese brands have an edge in the printer market. As for projectors, Wanbo, a Chinese brand, shows outstanding sales performance in the Thai market.
Growing your Business in Southeast Asia through Online Marketplace Monitoring & Research
We believe that the Southeast Asian electronics market is open and inclusive. However, due to varying cultural and economic levels among countries, consumer preferences also exhibit notable differences. By understanding the market in each country, brands and businesses can better explore Southeast Asia as a destination for expansion.
As part of our comprehensive long-term data monitoring and collection services, TMO Group helps clients dive deeper into Southeast Asia’s eCommerce market with our thorough research and analysis, as well as customized reports for various industries, providing a deep understanding of your niche, including market structure, size, and emerging trends.
If you are looking for an eCommerce agency to assist you in your Southeast Asia business expansion, or want to explore other alternatives to grow in the region, reach out to us to learn more about our Consultancy & Strategy Services, from branded eCommerce website development to social commerce and other Cross-border eCommerce Solutions.
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