Boston, MA -- (SBWIRE) -- 06/07/2012 -- Bahrain's consumer electronics devices market, defined as the addressable market for computing devices, mobile handsets and AV devices, is forecast at US$655mn in 2012. This is expected to increase to US$882mn by 2016, driven by demand for feature-rich digital lifestyle products such as LCD TV sets, notebook computers and other key products, as well as the ongoing development of the electronics retail sector.
Bahraini demand for AV products continued to grow in 2011, despite the political disturbances. Consumer spending continued to grow impressively, and rocketing private sector credit growth and strong retail sales imply a healthy consumer sector that should keep growth sustained. However, while spending should continue to be solid, the days of Bahrain's consumer boom are over, with shoppers likely to have been scarred by the downturn of 2008-2009. Ongoing political unrest could hit consumer confidence and deter investors while the rise in global oil prices that has accompanied the disturbances will provide a boost to Bahrain's finances.
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Going forward, however, product innovation, lower prices and greater vendor and channel sales flexibility will support growth in consumer electronics spending, along with a resumption of low singledigit population growth.
Computer hardware accounted for around 34% of Bahraini consumer electronics spending in 2011. BMI forecasts Bahraini domestic market computer hardware sales (including notebooks and accessories) of US$224mn in 2012, up from US$211mn in 2011. Computer hardware compound annual growth rate (CAGR) for the 2012-2016 period is forecast at about 6%, led by notebooks and netbooks, which currently account for about 60% of sales. Bahraini fixed and mobile telecoms operators have launched a series of services and promotions targeted at PC users.
AV devices accounted for around 54% of Bahraini consumer electronics spending in 2011. The Bahraini addressable AV device market is forecast at US$354mn in 2012. The market is expected to grow at a CAGR of 8% during 2012-2016, driven largely by demand for LCD and plasma TV sets, to a value of US$482mn in 2016. In the current economic climate, Bahraini consumers are looking for high-end features and performance at more affordable prices.
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