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Thailand Consumer Electronics Report Q1 2012
Business Monitor International, Dec 2011, Pages: 54
Thailand’s consumer electronics devices market, defined as the addressable market for computing devices, mobile handsets and AV products, is projected at about US$8.7bn in 2012. This is expected to increase at a CAGR of about 6% to US$11.8bn by 2016, driven by the growing affordability and popularity of flat-screen TV sets, low-cost smartphones and other digital lifestyle products.
In 2012, consumer electronics spending is expected to grow 9%, driven by an improving economy, and salary increases for civil servants and others. Spending growth was expected to accelerate in H211, following a clear result in the elections in July 2011, which boosted consumer confidence. A low unemployment rate should also help, but in our view the main market driver will be product innovation such as smart and 3D TV sets, tablets and smartphones.
Computers
Computer hardware accounted for about 52% of Thai consumer electronics spending in 2011. BMI forecasts Thai domestic market computer hardware sales (including notebooks and accessories) of US$4.5bn in 2012.
The computer hardware CAGR for the 2012-2016 period is forecast at about 6%, in the context of a currently low PC penetration rate of below 20% and which is expected to exceed 25% by 2016.
Drivers will include growing affordability of notebooks, wireless networking capabilities and government programmes.
AV Devices
AV devices accounted for about 35% of Thailand’s consumer electronics spending in 2011. The Thai domestic AV device market is projected to be worth US$2.7bn in 2011. With relatively low penetration of flat-panel TV sets and digital cameras, the market is expected to grow to US$4.3bn in 2016. The average sales price of an LCD TV set continued to fall in 2011, due to price competition, particularly in the 32-inch under and below segment.
Mobile Handsets
Mobile handset sales accounted for about 13% of Thai consumer electronics spending in 2011. Thai market handset sales are expected to grow at a CAGR of about 7% to US$1.7bn in 2016, as mobile subscriber penetration reaches 134%. Sales are dominated by lower priced mass market phones, but there will be growing demand for mid and entrylevel smartphones, with 2012 sales forecast at about 258,000 units a month.
Business Monitor International's Thailand Consumer Electronics Report provides industry professionals and strategists, corporate analysts, electronics associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Thailand's consumer electronics industry.
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