Boston, MA -- (SBWIRE) -- 08/06/2012 -- 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 6.1% to US$7.4bn 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.
BMI expects Argentina's consumer electronics market to be relatively healthy in 2012, as current monetary and fiscal policies remain highly expansionary and double-digit inflation encourages consumers to spend rather than save their disposable income. However, we expect a moderation in growth compared with the situation in 2011, which was less reflective of strong economic fundamentals, but more the government's continued fiscal support to household incomes.
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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.
Computer hardware accounted for about 48% 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 7.4%, 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 devices accounted for about 43% of Argentine consumer electronics spending in 2011. Argentina's domestic AV device market is projected at US$2.5bn 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 4.0% 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.
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