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$1.1bn in 2012. This is expected to increase to US$1.4bn 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. Household spending should grow robustly, boosted principally by rapidly rising wages in both the public and the private sector. The popularity of multimedia notebooks with wireless connectivity, as well new form factors such as Ultrabooks and tablets, will continue to provide opportunities. 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.
BMI forecasts that per capita consumer electronics spend will reach US$349 by 2016, from US$276 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.)
Buy your copy of this report @ http://www.marketreportsonline.com/156763-kuwait-consumer-e.html
Computers Computer hardware accounted for about 38% of Kuwaiti consumer electronics spending in 2011. BMI projects Kuwait’s domestic market computer hardware sales (including notebooks and accessories) of US$394mn in 2012, up from US$362mn in 2011. Computer hardware compound annual growth rate (CAGR) for the 2012-2016 period is forecast at about 5%, with the emergence of tablets helping to drive sales.
AV Devices AV devices accounted for about 44% of Kuwaiti consumer electronics spending in 2011. Kuwait’s domestic AV device market is projected at US$461mn in 2012. The market is expected to grow at a CAGR of 6% from 2012-2016, to a value of US$580mn 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 Handsets Mobile handset sales will comprise about 21% of Kuwaiti consumer electronics spending during BMI’s fiveyear forecast period. Kuwait’s market handset sales are expected to grow at a CAGR of 11% to US$293mn in 2016, as mobile subscriber penetration reaches 193%. 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.
Contact sales@marketreportsonline.com for further information.
