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Serbia Consumer Electronics Report Q1 2012
Business Monitor International, Jan 2012, Pages: 43
Serbia’s consumer electronics devices market, defined as the addressable market for computing devices, mobile handsets and video, audio and gaming products, is forecast to stand at around US$1.2bn in 2012.
Serbian households were hit hard in the aftermath of the global financial crisis and consumer demand has been slow to recover.
BMI forecasts low single-digit growth in spending in 2012. Stubbornly high unemployment and the debt burden have constrained demand for goods such as flat-screen TV sets, smartphones and notebooks and placed pressure on revenues and margins.
A government-negotiated thaw of an IMF-imposed freeze of public sector wages and pension benefits in 2011 promised a boost to demand as pension benefit values and wage growth were negative in real terms in 2010. BMI forecasts that Serbian per capita consumer electronics spending will increase from US$124 in 2012 to US$175 by 2016.
Computers Computer hardware accounted for around 41% of Serbia’s consumer electronics spending in 2011. Sales increased again in 2011, following a double-digit contraction in 2010. With only around 40% of households having a computer, according to government figures, computer hardware compound annual growth rate (CAGR) for the 2012-2016 period is forecast at about 14%, driven by sales of notebooks. Meanwhile, government programmes such as a EUR620,000 procurement of computers scheme for primary schools will support sales.
AV Devices AV devices accounted for around 37% of Serbia’s consumer electronics spending in 2011. The Serbian domestic AV device market is projected at US$444mn in 2012. Following a modest recovery in 2011, a CAGR of 4.4% is projected for 2012-2016, due largely to growth in the digital TV set category. Serbia is scheduled to complete its switchover to digital broadcasting by April 2012.
Mobile Handsets Mobile handset sales accounted for around 22% of Serbia’s consumer electronics spending in 2011. Serbia’s market handset sales are expected to grow at a CAGR of 6.1% to US$337mn in 2016, as sales in Serbia’s youthful market are increasingly dominated by replacement handsets, with a growing market for 3G models and smartphones. In January 2011 the abolition of the 10% mobile phone tax provided a boost to the handset market.
- Benchmark BMI's Independent 5-year Consumer Electronics Industry Forecasts for Serbia to test other views - a key input for successful budgeting and strategic business planning in the Serbia Consumer Electronics market.
- Target Business Opportunities & Risks in Serbia through our reviews - and major deals, projects and investments.
- Exploit Latest Competitive Intelligence & Company SWOTS on your competitors and peers through company rankings by sales, market share and ownership structure – includes multi-national and national companies.
Business Monitor International's Serbia Consumer Electronics Report provides industry professionals and strategists, corporate analysts, electronics associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Poland's consumer electronics industry.
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