Fast Market Research recommends "Israel Consumer Electronics Report Q2 2013" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 04/16/2013 -- Israel's strong consumer electronics market remains one of the standout markets in the Middle East. Consumer spending on electronic devices remains high and drives the market. While there are some downside risks to our outlook, we continue to expect Israel to outperform the region, with strong government demand for computers and increasing use of smartphones maintaining a five-year CAGR of 5% for overall market growth. New laws on mobile handset imports will have a notable impact on that segment, encouraging greater volume sales of devices. As demand for smartphones increases, the value of the mobile handset segment will increase as a share of the overall market.
Headline Expenditure Projections
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- Computer Hardware Sales: US$2.62bn in 2012 to US$2.74bn in 2013, up 4.5% 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 flat-screen TV sets expected to provide the most dynamic development.
- Handset Sales: Fastest growing segment rising 11.3% between 2012-2013 to US$415mn. Smartphone demand will drive market growth with values of devices increasing. Growth will remain in double digits between 2012-2014 and then average 9% in the 2015-2017 period.
Key Trends & Developments
- The Israeli AV market will continue to be driven by the migration to digital broadcasting, which will fuel consumer upgrades to flat-screen 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 flat-screen TV sets continued to rise and the emergence of 3D TV has prompted a miniresurgence in sales of plasma TV sets.
- The Israeli government has launched various initiatives to increase computer and internet penetration. The current rate of PC penetration, while high for the region, offers the potential for organic growth. Household penetration is estimated at around 75%. Israel has around 600,000 children living below the poverty line and only 3% have internet or home PC access, compared with 90% in the top income group.
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