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Egypt Consumer Electronics Report Q3 2011
Business Monitor International, June 2011, Pages: 48
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$3.5bn in 2011. This is expected to increase to US$5.4bn by 2015, driven by the growing affordability and popularity of digital lifestyle products.
Egyptian spending on consumer electronics took a hit as the political upheavals of February 2011 led to a temporary closure of the country’s banks and a drop-off in consumer confidence. Some customs offices were closed and a number of multinational vendors suspended local sales and marketing activities. However, sales were expected to recover after Q211, as the situation normalised.
The consumer electronics market is expected to grow steadily over the next four years, lifted by a strengthening domestic demand. Key factors behind the forecast growth 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 therefore 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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