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Singapore Consumer Electronics Report Q1 2012
Business Monitor International, Dec 2011, Pages: 51
Singapore’s consumer electronics devices market, defined as the addressable market for computing devices, mobile handsets and AV products, is projected to be worth around US$4.3bn in 2012. This is expected to increase to US$5.7bn by 2016, at a 2012-2016 compound annual growth rate (CAGR) of 7%, which is slower than in the preceding five years.
In 2012 spending on high-end consumer electronics products was supported by the strong Singapore dollar and rising living standards. However overall growth in some product categories such as Sales of LCD TV sets were constrained by market saturation and price pressures. Strong sales of high-tier smartphones in H111 underlined the opportunity for high-end product innovation to drive revenues growth in the mature Singaporean market. Meanwhile, flat-panel TV set sales was driven by demand for larger screen-sizes and LED models. Vendors will play to consumers’ enthusiasm for new technologies with releases of LED, 3D and internet-enabled TV sets.
Computers
Computers accounted for around 70% of Singapore’s consumer electronics spending in 2011. BMI forecasts Singapore computer hardware sales of US$3.0bn in 2012. With government projects helping to sustain the computer market, CAGR for the 2012-2016 period will be around 8%, with most consumer growth driven by demand for tablets and multimedia and entertainment notebooks as second household PCs.
Singapore’s domestic video, audio and gaming device market is forecast at US$940mn in 2012, with mid-singledigit growth from 2011. The market is expected to grow at a CAGR of 7% between 2012 and 2016 to a value of US$1.2bn. Video applications will provide revenue growth at a slower rate due to price erosion, but product innovation will support sales. Internetenabled TV sets appeared on the market in 2010 and the Singapore Media Authority has launched 3D TV trials.
Meanwhile, digital cameras continued to sell well in the Singaporean market in 2011, boosted by demand for DSLR models. Mobile Handsets Singapore market handset sales are expected to grow at a CAGR of about 3% to US$421mn in 2016, with the market driven mainly by replacements as penetration is already above 140%. Singapore now has one of the highest smartphone penetration rates in the world. Smartphones were the main handset market driver in 2011, thanks to local sales of Apple’s iPhone, the BlackBerry Bold and and phones based on the Android operating system.
Business Monitor International's Singapore Consumer Electronics Report provides industry professionals and strategists, corporate analysts, electronics associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Singapore's consumer electronics industry.
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