New Consumer Goods market report from Business Monitor International: "Iran Consumer Electronics Report Q2 2012"
Williamstown, MA -- (SBWIRE) -- 05/08/2012 -- Iran's consumer electronics devices market, defined as the addressable market for computing devices, mobile handsets and video, audio and gaming products, is forecast to be worth around US$9.6bn in 2012. This is expected to increase to US$12.7bn by 2016, driven by growing popularity of LCD TV sets, notebook computers and other key product groups, as well as ongoing expansion of the retail sector. Opportunities in the Iranian market remain restricted by the huge size of the 'grey' market, particularly for mobile handsets.
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The US-led drive to tighten sanctions against Iran appeared in early 2012 to be having some impact on the market, with vendors such as Huawei and Nokia Siemens Network announcing plans to scale down their business in the country. Iran's migration to digital broadcasting is expected to generate opportunities, but the Iranian consumer faces a number of related economic pressures including rising high inflation, devaluation and the reduction of government subsidies on food and fuel. However, Iran's steadily increasing population will support private consumption growth, while spending on consumer electronics will also be driven by new technologies and expanding internet and mobile telecoms penetration.
Computer hardware accounted for around 46% of Iranian consumer electronics spending in 2011. BMI projects Iranian domestic market computer sales (including notebooks and accessories) of US$4.3bn in 2012. Computer hardware compound annual growth rate (CAGR) for the 2012- 2016 period is forecast at about 6%, with notebooks and netbooks accounting for about two-thirds of sales.
AV devices accounted for around 30% of Iranian consumer electronics spending in 2011. Iran's domestic AV device market is projected at US$2.8bn in 2012. The market is expected to grow at a CAGR of 8% during 2012-2016 to a value of US$3.5bn in 2016, boosted by the gradual rollout of digital broadcasting.
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