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Saudi Arabia Consumer Electronics Report Q1 2012
Business Monitor International, Dec 2011, Pages: 50
Business Monitor International's Saudi Arabia Consumer Electronics Report provides industry professionals and strategists, corporate analysts, electronics associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Saudi Arabia's consumer electronics industry.
Saudi Arabia’s consumer electronics devices market, defined as the addressable market for computing devices, mobile handsets and video, audio and gaming products is projected at US$6.3bn in 2012. This is expected to increase to US$8.2bn by 2016, driven by the growing popularity of flat-screen TV sets, smartphones, notebook computers and other key product groups. I will also be driven by ongoing expansion of the electronics retail sector.
In 2012 wage hikes and job creation fuelled by government handouts are expected to support consumer spending on big-ticket lifestyle products such as smartphones and flat-screen TV sets. Saudi Arabia’s addressable market for digital devices is forecast to grow at a CAGR of 7%, driven by steady economic growth. BMI estimates per capita spending on consumer electronics will be US$22 in 2012 and rise to US$288 by 2016. Youthful population demographics, a growing population, regional economic boom and a buoyant real estate sector will all drive retail growth.
Computers
Computer hardware accounted for approximately 32% of Saudi consumer electronics spending in 2011. BMI forecasts Saudi domestic market computer hardware sales (including notebooks and accessories) of over US$2.0bn in 2012, up from US$1.9bn in 2011. Computer hardware CAGR for the 2012-2016 period is forecast at about 7%, with stronger demand for notebooks the main factor driving retail segment growth.
AV
AV devices accounted for about 52% of Saudi consumer electronics spending in 2011. Saudi Arabia’s addressable AV device market is forecast at US$3.3bn in 2012. The market is expected to grow at a CAGR of 7% between 2012 and 2016 to reach a value of US$4.4bn, with vendors aiming to sell new products such as 3D and LED TV sets to drive growth.
Mobile Handsets
Mobile handset sales accounted for 16% of consumer electronics spending in Saudi Arabia in 2011. Handset sales are expected to grow at a CAGR of 6% to US$1.3bn by 2016, as mobile subscriber penetration approaches 220%. Sales will be dominated by the replacement market, with growing demand for smartphones and 3G handsets, as the proportion of 3G users rises to over 50% of the mobile subscriber base.
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