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Saudi consumer electronics mart to hit $5b by 2015
Published in The Saudi Gazette on 28 - 03 - 2011

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. This is expected to increase to $5.0 billion by 2015, driven by growing popularity of flat-screen TV sets, smartphones, notebook computers and other key product groups and by ongoing expansion of the electronics retail sector.
Business Monitor International (BMI) said Sunday in its "Saudi Arabia Consumer Electronics Report Q2 2011" that the Kingdom's addressable market for digital devices is forecast to grow at a CAGR of 5 percent, driven by a steadily growing economy.
BMI estimates per capita consumer electronics spend of $152 in 2011 and rising to $175 by 2015. Youthful population demographics, a growing population, regional economic boom and a buoyant real estate sector will all drive retail growth, the report said.
Computer hardware accounted for approximately 47 percent of Saudi consumer electronics spending in 2010.
BMI forecast Saudi domestic market computer hardware sales (including notebooks and accessories) of $1.9 billion in 2011, up from $1.8 billion in 2010. Computer hardware CAGR for the 2011-2015 period is forecast at about 7 percent, with stronger demand for notebooks the main factor driving retail segment growth.
Audio and video (AV) devices accounted for about 31 percent of Saudi consumer electronics spending in 2010.
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 6 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.
Meanwhile, mobile handset sales accounted for 22 percent of consumer electronics spending in Saudi Arabia in 2010. Handset sales are expected to grow at a CAGR of 6 percent to $1.1 billion by 2015, as mobile subscriber penetration reaches 211 percent. 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 38 percent of the mobile subscriber base.


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