2013-12-29 19:25:41 - Fast Market Research recommends "Hungary Consumer Electronics Report Q1 2014" from Business Monitor International, now available
There is medium-term growth potential in the Hungarian consumer electronics market as a result of relatively low device penetration in the smartphone and tablet device categories. As device prices continue to decline with competition from East Asia producers, and incomes rise, we expect strong growth in sales. Another area in which we expect to see medium term growth is the hybrid/convertible market as vendors innovate in product designs. The short-term outlook is less positive, and we forecast only moderate growth as spending remains constrained by the weak economic environment. Fiscal austerity, tighter credit conditions, a still overhang of debt and elevated unemployment levels all pose major challenges to households and are keeping confidence levels low.
Headline Expenditure Projections
* Computer Hardware
Sales: US$1.15bn in 2012 to US$1.21bn in 2013, an increase of 5.1%. Although unit growth remains strong, competition from low-cost Android tablets is putting downward pressure on prices across the market and limiting increases in market value.
* AV Sales: US$789mn in 2012 to US$816mn in 2013, +3.4% in US dollar terms. Penetration of digital TV is driving demand for flat-screen TV sets as consumers upgrade to take advantage of new services.
* Handset Sales: US$355mn in 2012 to US$395mn in 2013, +11.3% in US dollar terms. The declining price of smartphones, particularly in the Android ecosystem, is sustaining sales growth. Operator subsidies are also helping to support market growth despite the constraints on Hungarian consumers.
Full Report Details at
- www.fastmr.com/prod/754540_hungary_consumer_electronics_report_q ..
Key Trends And Developments
The handset market is the most dynamic segment of the Hungarian consumer electronics market. Although total volume growth is lacklustre due to the maturity of the market and the fact replacement cycles have remained steady, the value of the market is increasing as smartphones account for a greater share of total handset sales. Smartphone penetration crossed 30% in H113, with devices running Google's Android OS key to increasing sales as price competition between a range of vendors has deepened the market in price sensitive Hungary. In H213 and 2014 there could however be a shift as Windows becomes an increasingly viable third ecosystem. Nokia has the potential to leverage its legacy brand strength in Hungary as Windows grows in popularity, providing serious competition to the leading Android vendor - Samsung -which has dominated the market in recent years after overtaking Nokia as the market transitioned to smartphones.
The PC market remained subdued in 2013 and we expect only moderate growth in 2014 as credit is still tight throughout the economy. Sales of big-ticket items such as PCs will continue to be deferred as consumers deleverage, although sales of relatively cheap tablets will be a growth area. BMI believes there is scope for a medium-term resurgence in notebook sales through ultra-thin and hybrid/convertible devices -however in the short term tablets will outperform and continue to cannibalise notebook sales.
Report Table of Contents:
BMI Industry View
- Political SWOT
- Economic SWOT
- Business Environment SWOT
- Table: Consumer Electronics Overview, 2010-2017
- Economic Activity
- Table: Hungary - Economic Activity
Industry Risk Reward Ratings
- Table: Europe IT Risk/Reward Ratings, Q1 2014
- Table: PC Sales, 2010-2017
- AV Devices
- Table: AV Sales, 2010-2017
- Mobile Devices
- Table: Mobile Communications, 2010-2017
Industry Trends And Developments
- Table: Electronics Output, 2010-2017
- Table: Computer, Electronic and Optical Products, National Sales Volume Index, 2011-2012
- Table: Hungary Industrial Parks And Resident IT/Electronics Companies
- Table: Restructuring Plans Of Major IT/Electronics Companies In Hungary
- Table: Electronics Output By Segment, 2010-2017
- Table: Foreign Direct Investment By Asian LCD TV Set Manufacturers In Hungary
- Table: Hungarian Exports of Office Machines And Automatic Data Machines, YTD, 2011-2012 (HUFmn)
- International Companies
- Table: Lenovo
- Table: Dell
- Table: Samsung Electronics
- Table: Huawei
- Demographic Outlook
- Table: Hungary's Population By Age Group, 1990-2020 ('000)
- Table: Hungary's Population By Age Group, 1990-2020 (% of total)
- Table: Hungary's Key Population Ratios, 1990-2020
- Table: Hungary's Rural And Urban Population, 1990-2020
- Industry Forecast Methodology
- Sector-Specific Methodology
- Risk Reward Rating Methodology
- Sector-Specific Methodology
- Table: Consumer Electronics Risk Reward Ratings Indicators
- Table: Weighting Of Indicators
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