Independent 5-year Consumer Electronics Industry Forecasts for Kuwait
The Kuwaiti consumer electronics market is highly lucrative in per capita terms, but the total value of the market is limited by the small size of the population. Kuwaiti nationals enjoy among the highest incomes in the world, and have demonstrated a propensity to spend on luxury items in the consumer electronics market , a trend we expect to remain in place over the medium term . High-status and fashionable products, for instance Apple's iPad and iPhone, have fared particularly well. There is also a smaller low-income migrant worker market, providing demand for low-end products, primarily in the handset market. We expect the overall market will continue to develop, with the strongest growth forecast for smartphone, tablet and hybrid notebook sales in 2015 .
Headline Expenditure Projections
PC Sales: USD520mn in 2014 to USD545mn in 2015, an increase of 4.8%. Tablet sales growth forecast to slow but a pickup in notebook demand will help to compensate.
AV Sales: USD359mn in 2014 to USD383mn in 2015, up 6.8% in US dollar terms. Growth expected to slow from 2014 when the FIFA World Cup in Brazil boosted spending on TV sets.
Handset Sales: USD475mn in 2014 to USD511mn in 2015, an increase of 7.6% in US dollar terms. Although smartphone penetration is high in Kuwait, which will see demand growth decelerate, the high replacement rate among Kuwaiti nationals will ensure the market remains buoyant in 2015.
Kuwait Consumer Electronics Key Trends And Developments
We estimate that smartphone penetration among nationals and professional expatriates reached 76% at the end of 2014, up from 64% a year earlier, but with the number of first time buyers estimated to have declined from 507,000 in 2013 to 315,000 in 2014. Vendors are having to adapt to a new market dynamic as an increasing portion of smartphone sales are replacements,...
TABLE OF CONTENTS
Industry View SWOT Consumer Electronics Market Political Economic Industry Forecast Table: Consumer Electronics Overview (Kuwait 2012-2018) Macroeconomic Forecasts Economic Analysis Expenditure Breakdown Table: GDP By Expenditure (Kuwait 2011-2018) Industry Risk Reward Ratings Table: MENA Consumer Electronics RRI Market Overview Computers Table: PC Sales (Kuwait 2012-2018) AV Table: AV Sales (Kuwait 2012-2018) Mobile Handsets Table: Mobile Communications (Kuwait 2012-2018) Competitive Landscape Local Companies Table: Al-Babtain Electronics Company Table: Alghanim Industries Table: Almasa Holdings Table: Redington Kuwait International Companies Table: Dell Table: Toshiba Industry Trends And Developments Regulatory Development Table: Regulatory Authorities Regulatory News Company Profile Jumbo Electronics Eros Group Axiom Telecom Demographic Forecast Table: Population Headline Indicators (Kuwait 1990-2025) Table: Key Population Ratios (Kuwait 1990-2025) Table: Urban/Rural Population & Life Expectancy (Kuwait 1990-2025) Table: Population By Age Group (Kuwait 1990-2025) Table: Population By Age Group % (Kuwait 1990-2025) Methodology Industry Forecast Methodology Sector-Specific Methodology Sources Risk/Reward Index Methodology Sector-Specific Methodology Table: Consumer Electronics Risk/Reward Index Indicators Table: Weighting Of Indicators