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Hungary Consumer Electronics Report Q3 2010
Business Monitor International, June 2010, Pages: 43
Business Monitor International's Hungary Consumer Electronics Report provides industry professionals and strategists, corporate analysts, electronics associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Hungary's consumer electronics industry.
Hungary’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$2.2bn in 2010. Following a slowdown in 2009 and 2010, spending is expected to increase at a compound annual growth rate (CAGR) of 4.2% to US$2.7bn by 2014, driven by growing popularity of digital lifestyle products such as LCD TV sets and 3G handsets.
The outlook for private consumption in Hungary in 2010 remains weak, as households and corporates focus on paying down debt accumulated in the pre-crisis credit boom rather than on new spending. Despite this, rising incomes, product innovation and favourable social and demographic trends should support a long-term growth trajectory for consumer electronics spending. Mobile telecoms penetration in Hungary remains much lower than in neighbouring markets, while digital television subscriptions rose to 43.5% of Hungary’s almost 3mn television subscribers in August 2009.
Computers
Computer hardware accounted for around 54% of Hungary’s consumer electronics spending in 2009. BMI forecasts Hungary’s domestic market computer hardware sales (including notebooks and accessories) of US$1.2bn in 2010. Computer hardware CAGR for the 2010- 2014 period is forecast at about 5.6%, driven by sales of feature-rich notebooks and netbooks.
AV Devices
AV devices accounted for around 34% of Hungary’s consumer electronics spending in 2009. Hungary’s domestic AV device market is forecast at US$759mn in 2010. Demand for flatscreen TV sets will be the main driver of a 2010-2014 AV spending CAGR of 4.3%, as Hungary moves towards digital broadcasting, while video devices such as flat-screen TV sets, digital cameras and VCR players account for more than 80% of demand.
Mobile Handsets
Mobile handset sales accounted for around 11% of Hungary’s consumer electronics spending in 2009. Hungary’s market handset sales are expected to grow at a 2010-2014 CAGR of 2.5% to US$308mn in 2014, as mobile subscriber penetration reaches 132%. Sales will be dominated by the replacement market, with growing demand for smartphones and 3G handsets. Hungarian mobile operators are planning to place mobile broadband and data services centre-stage in the months ahead.
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