2012-02-03 17:49:04 - Kuwait Consumer Electronics Report Q1 2012 - a new market research report on companiesandmarkets.com
Kuwait´s consumer electronics devices market, defined as the addressable market for computing devices, mobile handsets and video, audio and gaming products, is projected at about US$1.0bn in 2012. This is expected to increase to US$1.3bn by 2016, driven by growing popularity of flat-screen TV sets, smartphones, notebook computers and other premium products, as well as ongoing expansion of the electronics retail sector.
In 2012, an array of new product releases should help to stimulate Kuwaiti demand for electronics. Kuwait has boosted government spending to pre-empt potential social tensions, and the majority of the spending has been earmarked for subsidies and wages, which should provide a lift to consumer spending on lifestyle goods such as consumer electronics. An array of new product
releases should help to stimulate demand, and we have revised up our private consumption forecasts for 2011 to 3.5% from 2.0% previously.
Demand for high-tier products such as Android smartphones and LED TV sets will provide growth areas, with customers upgrading for the latest technologies and features.
We forecast that per capita consumer electronics spend will reach US$339 by 2016, from US$270 in 2012. Key factors behind the forecast growth are a favourable long-term economic outlook, a sophisticated consumer base and high levels of disposable income. However, we do not see a return to the stellar growth rates of the last few years (real private consumption growth averaged 9.0% between 2002 and 2007.)
Computer hardware accounted for about 38% of Kuwaiti consumer electronics spending in 2011. We project Kuwait´s domestic market computer hardware sales (including notebooks and accessories) of US$383mn in 2012, up from US$362mn in 2011. Computer hardware compound annual growth rate (CAGR) for the 2012-2016 period is forecast at about 6%, with the emergence of tablets helping to drive sales.
AV devices accounted for about 45% of Kuwaiti consumer electronics spending in 2011. Kuwait´s domestic AV device market is projected at US$454mn in 2012. The market is expected to grow at a CAGR of 6% from 2012-2016, to a value of US$567mn in 2016. More ´big box´ electronics stores offering a wider choice and often better prices will help stimulate sales. Meanwhile, product innovation will drive demand in the AV product category, with a focus on features such as 3D, improved display quality and wider screens, as well as design and wireless capabilities.
Mobile handset sales will comprise about 21% of Kuwaiti consumer electronics spending during our fiveyear forecast period. Kuwait´s market handset sales are expected to grow at a CAGR of 11% to US$291mn in 2016, as mobile subscriber penetration reaches 200%. Following the entry of new mobile network operator Viva, more competition will drive the replacement handset market and there will be growing demand for smartphones and 3G handsets. The upgrade of network infrastructure to support new data services will help to drive demand for 3G and higher-tier handsets.
Click for report details: www.companiesandmarkets.com/Market/Consumer-Goods/Market-Researc ..
Browse all Consumer Goods Market Research Reports www.companiesandmarkets.com/Market/Consumer-Goods/Market-Researc ..
Browse all Consumer Goods Company Profile Reports www.companiesandmarkets.com/Market/Consumer-Goods/Company+Profil ..
Browse all Latest Market Research Reports www.companiesandmarkets.com/Market/All/Market+Research?aCode=f3f ..
Companiesandmarkets.com is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles, Companiesandmarkets.comâs online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.