Saudi Arabia Consumer Electronics Report Q3 2013 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-23 13:22:04
Growth in Saudi Arabia´s consumer electronics market remained strong in H113 on the back of healthy private consumption and continued investment in IT systems by businesses and government agencies. One underlying factor in this growth story is the increasing use of internet-based services for communication, information and entertainment by consumers. We expect this to be a key growth driver in the audio-visual segment, where vendors are already reporting strong demand big-ticket TV sets and home cinema systems, as well as the handsets segments, where smartphones sales are expected to maintain an upward trajectory over our five-year forecast period to 2017.
Headline Expenditure Projections
- Computer Hardware Sales: US$2.2bn in 2013 to US$2.6bn by 2017. Lower PC sales growth in early 2013 still weighs on our forecast, but this will partly be offset by strong tablets sales during the same period.
- AV Sales: US$3.4bn in 2013 to US$4.6bn in 2017. The latest flat-screen TVs and home cinema systems will continue to generate strong growth in the country´s outlook and maintain AV as the key component of the consumer electronics market.
- Handset Sales: US$1.2bn in 2013 to US$1.6bn by 2017 as smartphones and connected devices for internet usage gain in popularity. Vendors are bringing devices to the market more quickly than previously, catering to the strong demand for the latest developments in the market.
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