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Egypt Consumer Electronics Report Q1 2011
Business Monitor International, Dec 2010, Pages: 49
Business Monitor International's Egypt Consumer Electronics Report provides industry professionals and strategists, corporate analysts, electronics associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Egypt's consumer electronics industry.
Egypt’s consumer electronics market for computing devices, mobile handsets and video, audio and gaming products is projected at around US$3.4bn in 2011. This is expected to increase to US$5.1bn by 2015, driven by the growing affordability and popularity of digital lifestyle products. Spending on consumer electronics accelerated in 2010, in line with a promising set of macroeconomic indicators. The Egyptian economy is expected to grow steadily over the next four years, lifted by a strengthening domestic demand. Other consumption drivers included improved credit and a projected 8.9% population growth from 2009 to 2014. Rising unemployment and tighter credit negatively influenced consumer demand in 2009, but the market remained in positive territory, with help from government spending. Government stimulus packages, including pay raises from civil servants and other groups, helped to keep consumer sales in positive territory.
Key factors behind the forecast growth in Egypt’s consumer electronics sales include the emergence of a more affluent middle class, urbanisation, and the growing acceptance of modern retail concepts. The market also benefits from youthful demographics, while government initiatives such as ‘PC for Every Home’ will also support growth.
Egypt is expected to be one of the fastest-growing consumer electronics markets in the region over the next few years, although a number of constraints, including low disposable incomes, economic disparities, low computer literacy and channel inefficiencies, could prevent the market from fulfilling its potential.'
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