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Kuwait Consumer Electronics Report Q1 2011
Business Monitor International, Dec 2010, Pages: 43
Business Monitor International's Kuwait Consumer Electronics Report provides industry professionals and strategists, corporate analysts, electronics associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Kuwait's consumer electronics industry.
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 around US$760mn in 2011. This is expected to increase to US$940mnn by 2015, driven by growing popularity of LCD TV sets, 3G handsets, notebook computers and other premium products, as well as ongoing expansion of the electronics retail sector. BMI forecasts that per capita consumer electronics spend will reach US$242 by 2015, from US$204 in 2011. 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,) as there are doubts about the ability of infrastructure projects to feed through into job creation and a consumer recovery.
Computers Computer hardware accounted for around 45% of Kuwaiti consumer electronics spending in 2009. BMI projects Kuwait’s domestic market computer hardware sales (including notebooks and accessories) of US$342mn in 2011, up from US$317mn in 2010. Computer hardware compound annual growth rate (CAGR) for the 2010-2014 period is forecast at about 7%, with the popularity of wireless access technologies driving notebook sales.
AV Devices AV devices accounted for around 36% of Kuwaiti consumer electronics spending in 2009. Kuwait’s domestic AV device market is projected at US$256mn in 2010. The market is expected to grow at a CAGR of 3% from 2011-2015, to a value of US$292mn in 2015. 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 like improved display quality and wider screens, as well as design and wireless capabilities.
Mobile Handsets Mobile handset sales accounted for around 19% of Kuwaiti consumer electronics spending in 2009. Kuwait’s market handset sales are expected to grow at a CAGR of 6% to US$202mn in 2015, as mobile subscriber penetration reaches 185%. 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.'
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