New Market Report Now Available: Singapore Consumer Electronics Report Q2 2013

Boston, MA -- (SBWire) -- 06/07/2013 --BMI View: We estimate that Singapore's consumer electronics spending grew by about 5% in US dollar terms in 2012 to US$4.5bn. Strong sales of smartphones, tablets, Blu-ray players and digital cameras in November and December 2012, underlined the continued relative buoyancy of the Singapore consumer, as well as the popularity of technology products as gifts. In the AV category, digital broadcasting migration will create a market for digital converters based on the DVB2 standard. There are a number of other key growth areas, such as 3G phones, DSLR cameras, Ultra-HD and 3D TV sets, Blu-ray DVD players, tablets and high-end notebooks. However, some other product groups such as Plasma TV sets and compact digital cameras are experiencing relatively flat growth.

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Headline Expenditure Projections

Computer hardware sales: US$2.9bn in 2012 to US$3.0bn in 2013, +6% in US dollar terms. Forecast in US dollar terms unchanged, but Windows 8, tablets and ultrabooks should be growth drivers.

AV sales: US$940mn in 2012 to US$998mn in 2013, +6% in US dollar terms. Forecast in US dollar terms unchanged, with product innovation the main growth driver.

Handset sales: US$940mn in 2012 to US$998mn in 2013, +6% in US dollar terms. Forecast in US dollar terms upwardly revised, with smartphones the main handset market driver.

Risk/Reward Ratings

Singapore's score was 71.3 out of 100.0, which gives it first place in our latest Asia CE RRR table. The country's high industry risk and country risk scores of 85 and 85.8 respectively reinforced its competitive CE market.

Key Trends & Developments

The migration of Singapore's free-to-air channels to a digital platform, due to take place in 2013, will create a market for digital converters for those 40% of TV households that do not currently subscribe to pay TV services. However, most households already have flat-screen TV sets. Vendors will therefore play to Singaporean consumers' enthusiasm for new technologies with releases of LED, 3D and internet-enabled TV sets. An expected transition to high-definition broadcasting over the next few years will also provide consumers with a further incentive to upgrade for a better viewing experience.

As most Singapore households already have flat-screen TV sets, vendors will play to Singaporean consumers' enthusiasm for new technologies with releases of Ultra-HD (ULD), OLED, 3D and internetenabled TV sets. Demand for larger and thinner screens is now the main driver of growth, as consumers seek a higher quality viewing experience. A trend for households purchasing multiple sets will stimulate sales, as will new technologies such as 3D TV sets.

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