Fast Market Research recommends "Israel Consumer Electronics Report Q1 2013" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 03/14/2013 -- BMI View: We project that Israeli consumer electronics spending will grow by about 5% in US dollar terms in 2013 to US$3.7bn, with our previous forecast being downwardly adjusted owing to a deteriorating economic outlook. In 2013, several indicators suggest moderating consumer demand, and the government's policies will be less supportive of private consumption, with parliament having approved in August 2012 a package of austerity laws. However, sales of mobile phones received a boost from a new law that liberalises mobile phone import. Consumer spending should also be supported by stimulatory fiscal spending, as well as falling unemployment and low inflation and interest rates. Across our five-year forecast period, a growing population and rising computer and internet penetration will drive consumer electronics demand growth, along with new technologies and products such as tablets, smartphones, higher capability netbooks and 3D TV sets.
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Headline Expenditure Projections
- Computer Hardware Sales: US$2.5bn in 2011 to US$2.6bn in 2012, +3% in US dollar terms. Forecast in US dollar terms downwardly revised due to macroeconomic factors, but Israeli businesses are investing more to facilitate expansion and development.
- AV Sales: US$503mn in 2012 to US$553mn in 2013, +6% in US dollar terms. Forecast in US dollar terms unchanged, with flatscreen TV sets expected to provide the most dynamic development.
- Handset Sales: US$373mn in 2012 to US$415mn in 2013, +11% in US dollar terms. Forecast in US dollar terms unchanged, with smartphones the main category driver and growth opportunity.
Israel's score was 57.2 out of 100.0, in third place in our latest Middle East and Africa (MEA) consumer electronics risk/reward rating (RRR) table. BMI expects rising penetration of consumer electronics devices such as smartphones and flatscreen TV sets, but the external economic environment will constrain demand.
Key Trends & Developments
- The Israeli AV market will continue to be driven by the migration to digital broadcasting, which will fuel consumer upgrades to flatscreen TV sets. Israel is on course to become the first country in the MEA region to reach 100% household digital TV penetration. Israel approved the launch of digital TV services in 2008 and subsidies covering half the cost of the set-top box are available to some groups. In 2012, demand for flatscreen TV sets continued to rise and the emergence of 3D TV has prompted a mini-resurgence in sales of plasma TV sets.
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