JEDDAH: 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 $4.0 billion in 2011. It is expected to increase to $4.9 billion by 2015, driven by growing popularity of LCD TV sets, notebook computers and other key product groups and by ongoing expansion of the electronics retail sector, research report on companiesandmarkets.com said Friday. The "Saudi Arabia Consumer Electronics Report Q1 2011" said the Kingdom's addressable market for digital devices is forecast to grow at a CAGR of 5 percent, driven by a steadily growing economy. The report forecast that per capita consumer electronics spending would reach $152 billion in 2011 and rising to $170 billion by 2015. Youthful population demographics, a regional economic boom and a buoyant real estate sector will all drive retail growth as per capita consumer electronics spend rises to $170 billion by 2015. Computer hardware accounted for approximately 46 percent of Saudi consumer electronics spending in 2009. The report forecast the Saudi domestic market computer hardware sales (including notebooks and accessories) would reach $1.9 billion in 2011, up from $1.8 billion in 2010. Computer hardware CAGR for the 2011-2015 period is forecast at about 5 percent, with stronger demand for notebooks the main factor driving retail segment growth. AV devices accounted for about 32 percent of Saudi consumer electronics spending in 2009. Saudi Arabia´s addressable AV device market is forecast at $1.2 billion in 2011. The market is expected to grow at a CAGR of 4 percent between 2011 and 2015 to reach a value of $1.4 billion, with vendors looking to new products such as 3D and LED TV sets to drive growth. Mobile handset sales accounted for 22 percent of consumer electronics spending in Saudi Arabia in 2009. Handset sales are expected to grow at a CAGR of 6 percent to $1.1 billion by 2015, as mobile subscriber penetration reaches 220 percent. Sales will be dominated by the replacement market, with growing demand for smartphones, PDAs and 3G handsets as the proportion of 3G users rises to over 38 percent of the mobile subscriber base. Companiesandmarkets.com is a leading online business information aggregator with over 500,000 market reports and company profiles available to its clients.
