| 09 Sep 2010 |
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Saudi Arabia Consumer Electronics Report Q4 2010 - New Market Report Published
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New report provides detailed analysis of the Consumer Goods market
Saudi Arabia's consumer electronics devices market, defined as the addressable market for computing devices, mobile handsets and video, audio and gaming products, is projected at around US$3.8bn in 2010. This is expected to increase to US$4.8bn by 2014, driven by growing popularity of LCD TV sets, notebook computers and other key products, and by ongoing expansion of the electronics retail sector. Saudi Arabia's addressable market for digital devices is forecast to grow at a compound annual growth rate (CAGR) of 6.0%, driven by a steadily growing economy.. Indeed Saudi Arabia is forecast to be one of the strongest economies in the MENA region going forward, and the country will continue to be a lucrative market for consumer electronics vendors. Youthful population demographics, a regional economic boom and a buoyant real estate sector will all drive retail growth, with per capita consumer electronics spend reaching around US$168 by 2014.
Computers
Computer hardware accounted for approximately 46% of Saudi consumer electronics spending in 2009. BMI forecasts Saudi domestic market computer hardware sales (including notebooks and accessories) of US$1.8bn in 2010, up from US$1.6bn in 2009. Computer hardware CAGR for the 2010- 2014 period is forecast at about 7%, with stronger demand for notebooks the main factor driving retail segment growth.
AV
AV devices accounted for about 32% of Saudi consumer electronics spending in 2009. Saudi Arabia's addressable AV device market is forecast at US$1.2bn in 2010. The market is expected to grow at a CAGR of 4% between 2010 and 2014 to reach a value of US$1.4bn, with increased sales of flat panel television sets in 2009 compensating for a contraction in overall TV set demand.
Mobile Handsets
Mobile handset sales accounted for 22% of consumer electronics spending in Saudi Arabia in 2009. Handset sales are expected to grow at a CAGR of 7% to US$1.1bn by 2014, as mobile subscriber penetration reaches 214%. Sales will be dominated by the replacement market, with growing demand for smartphones, PDAs and 3G handsets as the proportion of 3G users rises to over 38% of the mobile subscriber base.
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Saudi Arabia Consumer Electronics Report Q4 2010: http://www.companiesandmarkets.com/r.ashx?id=328O595QX345369&prk=9ec727c85ffe9fe1e3e2669b07714734
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