Fast Market Research recommends "Kuwait Consumer Electronics Report Q2 2013" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 05/13/2013 -- Despite a population of just 2.89mn Kuwait is an attractive market for manufacturers of consumer electronic devices, particularly in the premium product category. This is because Kuwait has among the highest GDP per capita levels in the world, which translates into high purchasing power of Kuwaiti nationals through government transfers and well paid public sector jobs. Private final consumption growth for the whole economy is set to slow slightly in 2013 from 2012, but growth in consumer electronics spending in key verticals will remain robust due to the appetite for top-of-the-range technology products among the populace. Key product categories we expect to see success in 2013 will include smartphones, tablets and hybrid-laptops running Windows 8, flat-screen TVs and the next generation of games consoles which should be launched late in 2013.
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Headline Expenditure Projections
- Computer hardware sales: US$393mn in 2012 to US$401mn in 2013, +1.9% in US dollar terms. Apple's range of tablets and laptops have proved popular in 2011 and 2013, which bodes well for premium tablets and laptop hybrids running Windows 8 in 2013.
- AV sales: US$454mn in 2012 to US$484mn in 2013, +6.5% in US dollar terms. Product innovation will drive continued growth in the flat-screen TV set category, while next generation games consoles should underpin an uptick in sales later in 2013.
- Handset sales: US$196mn in 2012 to US$218mn in 2013, +11.3% in US dollar terms. Operator promotions to leverage their investments in wireless data networks are driving strong growth in the smartphone market.
Kuwait's score was 58.1 out of 100. Kuwait ranked second in the MEA region in our latest RRR table, behind the UAE, but ahead of regional peers such as Israel, Saudi Arabia and Qatar.
Key Trends & Developments
The launch of Microsoft's Windows 8 in October 2012 is opening a new era of blended form factors in the mobile computing device market. The introduction of touch functionality enables device vendors to introduce a range of tablets and laptop hybrids such as Microsoft's own Surface tablet and Lenovo's Yoga. These devices, along with innovation in ultrabooks, are blurring device category divisions and increasing competition for Apple products which have proved very popular in the premium mobile computing device market in Kuwait.
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