2013-02-24 15:35:43 - Fast Market Research recommends "Serbia Consumer Electronics Report Q1 2013" from Business Monitor International, now available
BMI View: We project Serbian consumer electronics spending will grow by about 6% in US dollar terms in 2012 to US$1.2bn, with macroeconomic headwinds originating from the eurozone having put a brake on faster growth for now. Serbia is one of the poorest markets in Central and Eastern Europe, and stubbornly high unemployment will constrain household spending in the short term, while elevated inflation will impinge on real purchasing power. Retail sales bear out this grim picture: following several months of positive growth earlier in the year, they contracted by 5.7% y-o-y in July 2012. Underlying economic growth, rising disposable income and the development of organised retail infrastructure are forecast to drive growth longer-term. Sales of flat-screen TV sets and
feature-rich notebook computers will continue to benefit from falling prices and more aggressive vendor and distributor promotion.
Full Report Details at
- www.fastmr.com/prod/536548_serbia_consumer_electronics_report_q1 ..
Computer Hardware Sales: US$441mn in 2012 to US$461mn in 2013, +5% in US dollar terms. Forecast in US dollar terms downwardly revised due to macroeconomic factors, but tablet sales should provide a growth area as prices fall.
* AV Sales: US$427mn in 2012 to US$444mn in 2013, +4% in US dollar terms. Forecast in US dollar terms downwardly revised due to economic factors with flat-screen TV sets the main growth driver.
* Handset Sales: US$271mn in 2012 to US$293mn in 2013, +8% in US dollar terms. Forecast in US dollar terms unchanged, with demand for advanced phones encouraged by new data applications.
Serbia's score was 36.0 out of 100.0, which gave it an unchanged eighth place in our latest EUR CE RRR table. BMI expects Serbia to climb up our RRR rankings over time due to the growth potential of its market, particularly given low, but rising PC penetration.
Key Trends & Developments
* Demand for higher-end models will help support the Serbian handset market in the face of the slowing subscriber growth rate. The smartphone penetration rate is considerably below the 18% level found in Western European markets, leaving plenty of room for growth. Demand for more expensive smartphones and high-end feature phones was reported by retailers to hold up fairly well, despite the economic crisis.
* According to the Serbian Ministry for Telecommunications and Information Society, Serbia was due to complete its switchover to digital broadcasting of radio and TV programmes in 2012. After years of delays, the commitment to a deadline should help to put the market for digital TV sets on a more promising trajectory. The government has also announced additional funding to support the transition, including new funds to subsidise set-top box purchases.
* Serbia is a smaller PC market than its neighbours Croatia and Slovenia, and less than half the size of Croatia. However, with only around 50% of Serbian households having a computer according to BMI estimates, the market has continued growth potential. Rising disposable incomes and progress towards EU accession are expected to be among the drivers of PC market growth.
Report Table of Contents:
BMI Industry View
- Business Environment
- Table: Table: Consumer Electronics Overview, 2010-2017
Industry Risk Reward Ratings
- Europe Risk/Reward Ratings
- Table: CEE CONSUMER ELECTRONICS RISK/REWARD RATINGS, Q113
- Consumer Electronics Market
- Table: Table: PC Sales, 2010-2017
- AV Devices
- Table: Table: AV Sales, 2010-2017
- Mobile Devices
- Table: Table: Mobile Communications, 2010-2017
Industry Trends And Developments
- Industry Trends & Developments
- Table: Table: Serbia ICT Industry - Key Metrics
- Table: Serbia: Regulatory Bodies And Their Responsibilities
- Table: SERBIA - MACROECONOMIC FORECASTS
- Table: Selected Developments
- Table: Serbia's Population By Age Group, 1990-2020 ('000)
- Table: Serbia's Population By Age Group, 1990-2020 (% of total)
- Table: Serbia's Key Population Ratios, 1990-2020
- Table: Serbia's Rural And Urban Population, 1990-2020
- How We Generate Our Industry Forecasts
- Electronics Industry
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