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Argentina Consumer Electronics Report Q1 2012
Business Monitor International, Jan 2012, Pages: 58
Business Monitor International's Argentina Consumer Electronics Report provides industry professionals and strategists, corporate analysts, electronics associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Argentina's consumer electronics industry.
Argentina’s domestic consumer electronics devices market, defined as the addressable market for computing devices, mobile handsets and AV products, is projected at US$5.8bn in 2012. The market picked up in 2011, following a sharp deceleration the previous year and spending is expected to grow at a CAGR of 8.7% to US$8.0bn by 2016, driven by demand for LCD TV sets, notebook computers, digital cameras and other key products, and also by rising incomes and greater credit availability.
Argentina's economy is poised for another strong year of growth in 2012 and BMI expects consumers will take advantage of rising incomes to increase spending, on consumer electronics. Private consumption grew 11.3% y-o-y in Q111, fuelled by government spending, is set to remain a key driver of economic growth in the short-term. Meanwhile, the tax on luxury goods such as mobile phones and digital cameras introduced in December 2009 has boosted the share of local production in Argentine market sales of products ranging from notebooks to LCD TV sets.
Computers
Computer hardware accounted for about 46% of Argentine consumer electronics spending in 2011. BMI forecasts Argentine domestic market PC sales (including notebooks and accessories) of U$2.3bn in 2012. Computer hardware CAGR for the 2012-2016 period is forecast at about 13%, with PC penetration currently below 30%. The government has committed to procure 3mn notebooks for high school students over the next three years, but half the units must be manufactured locally.
AV
AV devices accounted for about 45% of Argentine consumer electronics spending in 2011. Argentina’s domestic AV device market is projected at US$2.4bn in 2012. Premium TV set sales were robust in 2011 and sales of LCD TV sets are projected to drive AV spending growth at a projected CAGR of 3.8% between 2012 and 2016. A US$2bn government plan for digital TV in the country will provide a boost to the market for TV sets and decoders.
Mobile Handsets
Mobile handset sales accounted for about 9% of Argentine consumer electronics spending in 2010. Argentine market handset sales are expected to grow at a CAGR of 6.3% to US$660mn in 2016, as mobile subscriber penetration has passed 130%. Argentina’s 3G market will be responsible for much of the mobile market’s growth, with subscribers already responding well to the new services on offer over 3G networks. Meanwhile, smartphones recorded strong growth in 2011, driven by the consumer segment.
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