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Hungary Consumer Electronics Report Q1 2011
Business Monitor International, Jan 2011, Pages: 45
The 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 computingdevices, mobile handsets and video, audio and gaming products, is projected at around US$2.3bn in 2011.Following a sharp deceleration in 2009, revenues growth remained sluggish in 2010 thanks to lowerprices, but spending is expected to increase at a CAGR of 7.4% to US$2.9bn by 2015. The main driversinclude the growing popularity of digital lifestyle products such as LCD TV sets and notebook computers,as well as lower prices and more flexible terms.
The outlook for private consumption in Hungary in 2010 remained weak, as households and businessesfocused on paying down debt accumulated in the pre-crisis credit boom rather than on new spending.Hungarian households’ desire to spend less and save more was reflected in figures for deposits in
Czechcommercial banks, which rose by 5.5% in April 2010, up from 4.2% in March.
Despite this, rising incomes, product innovation and favourable social and demographic trends shouldsupport a long-term growth trajectory for consumer electronics spending. Mobile telecoms penetration inHungary remains much lower than in neighbouring markets, while digital television subscriptions rose to43.5% of Hungary’s almost 3mn television subscribers in August 2009.
Computers
Computer hardware accounted for around54% of Hungary’s consumer electronicsspending in 2009. BMI forecastsHungary’s domestic market computerhardware sales (including notebooks andaccessories) worth US$1.3bn in 2011.Computer hardware CAGR for the 2011-2015 period is forecast at about 7.4%,driven by sales of feature-rich notebooksand netbooks.
AV Devices
AV devices accounted for around 34% ofHungary’s consumer electronicsspending in 2009. Hungary’s domesticAV device market is forecast atUS$792mn in 2011. Demand for flatscreenTV sets will be the main driver ofa 2011-2015 AV spending CAGR of4.2%, as Hungary moves towards digitalbroadcasting, while video devices such asflat-screen TV sets, digital cameras andVCR players account for more than 80%of demand.
Mobile Handsets
Mobile handset sales accounted foraround 11% of Hungary’s consumerelectronics spending in 2009. Hungary’smarket handset sales are expected togrow at a 2011-2015 CAGR of 3.7% to avalue of US$337mn in 2015, as themobile subscriber penetration ratereaches 132%. Sales will be dominatedby the replacement market, with growingdemand for smartphones and 3Ghandsets. Hungarian mobile operators areplanning to place mobile broadband anddata services centre-stage in the months ahead, while May 2010 brought Hungary’s first 3D TVbroadcast.'
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