Boston, MA -- (SBWIRE) -- 02/15/2013 -- BMI forecasts 7% growth for the Kuwaiti consumer electronics market in 2012, with spending on devices such as smartphones and tablets expected to benefit from a positive economic context. This surge in spending is almost wholly government-driven, with household incomes having been boosted by a series of public sector wage hikes and increased social benefits. There are signs that credit growth in the domestic banking sector - which has been anaemic for the best part of two years - is beginning to pick up. Moreover, the real estate market is also starting to recover, and was up by 8.4% in the first seven months of 2012. Sales will also be boosted by growing popularity of flat-screen TV sets, Android smartphones, notebook computers and tablets, and other premium products, as well as ongoing expansion of the electronics retail sector.

Headline Expenditure Projections

- Computer hardware sales: US$362mn in 2011 to US$394mn in 2012, +9% in US dollar terms. Forecast in US dollar terms upwardly revised due to macroeconomic factors, following stronger than expected growth in 2011.
- AV sales: US$454mn in 2012 to US$484mn in 2013, +7% in US dollar terms. Forecast in US dollar terms upwardly revised due to analyst modification, and product innovation will drive continued growth in the flat-screen TV set category.
- Handset sales: US$196mn in 2011 to US$218mn in 2012, +11% in US dollar terms. Forecast in US dollar terms unchanged but operator promotions are driving strong growth in the smartphone market.

View Full Report Details and Table of Contents

Risk/Reward Rating:

Kuwait's score was 58.1 out of 100. Kuwait ranked fourth in the MEA region in our latest RRR table, behind the UAE, but ahead of regional peers such as Saudi Arabia and Qatar.

Key Trends & Developments

- Flat-screen TV sets will be the main driver of AV category sales growth over the forecast period as consumers upgrade and trade their old models for digital. Product innovation will also boost sales, with a focus on features such as 3D, improved display quality and larger, wider screens, as well as design and wireless capabilities.
- In the mobile devices sector, the upgrade of network infrastructure to support new data services will help to drive demand for 3G phones and smartphones. Kuwaiti consumers have an increasing demand for easy access to emails and other data services in Kuwait and when they are travelling. Other drivers of smartphone sales include more competitive data tariffs from the main operators.
- The popularity of multimedia portable computers with wireless connectivity will continue to provide opportunities. Vendors will look to new form factors such as tablets and the heavily hyped ultrabooks, which are relatively high in price, but could provide a new boost to the PC market in 2013.

About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Consumer Goods research reports at Fast Market Research

You may also be interested in these related reports:

- Bulgaria Consumer Electronics Report Q1 2013
- Indonesia Consumer Electronics Report Q1 2013
- Peru Consumer Electronics Report Q1 2013
- China Consumer Electronics Report Q1 2013
- Czech Republic Consumer Electronics Report Q1 2013
- Philippines Consumer Electronics Report Q1 2013
- Bahrain Consumer Electronics Report Q1 2013
- Malaysia Consumer Electronics Report Q1 2013
- Israel Consumer Electronics Report Q1 2013
- South Africa Consumer Electronics Report Q1 2013