Fast Market Research recommends "Russia Consumer Electronics Report Q2 2013" from Business Monitor International, now available

Boston, MA -- (SBWire) -- 06/19/2013 --We project that Russian consumer electronics spending will grow by about 9% in US dollar terms in 2013, after Russian retailers such as MTS, M.video and Euroset reported another year of strong growth in sales of some consumer electronics devices in 2012. The Russian consumer electronics market is expected to increase at a double-digit compound annual growth rate over BMI's five-year forecast period, driven by the growing popularity of digital lifestyle products like digital TV sets, notebook PCs, digital cameras and portable audio devices. However, overall handset sales reported slower growth in 2012, despite strong demand for smartphones, and a similar pattern is expected in 2013. Meanwhile, PC sales were down year-on-year in Q412, following double-digit growth in Q1-3.

View Full Report Details and Table of Contents

The planned rollout of digital TV broadcasting to 95% of Russian citizens by 2015 and investment in 3G and 4G mobile communications infrastructure will boost spending. Meanwhile, the market should receive a further boost following WTO entry, confirmed in August 2012, with import taxes of 5-15% expected to be lowered within three years.

Headline Expenditure Projections

Computer Hardware Sales: US$11.7bn in 2012 to US$12.7bn in 2013, +8% in US dollar terms. Forecast in US dollar terms unchanged despite a dip in Q412, and tablets should be a strong growth area in 2013.

AV Sales: US$8.2bn in 2012 to US$8.8bn in 2013, +7% in US dollar terms. Forecast in US dollar terms unchanged, with flat-screen TV set sales the main growth area.

Handset Sales: US$6.1bn in 2012 to US$7.0bn in 2013, +14% in US dollar terms. Forecast in US dollar terms downwardly revised, but sales of smartphones have been particularly strong and reversed a trend of declining handset prices.

Risk/Reward Rating

Russia's score is 51.9out of 100.0, down slightly from the previous quarter. However, Russia has moved down to third place in our latest Consumer Electronics Risk/Reward Ratings table from second, swapping places with the Czech Republic. Given its undoubted market growth potential, Russia is expected remain a priority market for vendors.

Key Trends And Developments

- The flat-screen TV set market still is far from saturated, particularly in remote areas. In the major cities of European Russia, rising incomes, new house builds and interest in luxury items will ensure growing demand for digital. The government has set a target for every Russian citizen to have access to at least 24 digital TV channels by 2015, with the amount of funding for digitalisation reportedly RUB76.3bn. Russia is expected to roll out digital services gradually, starting from Russia's Far East and South Siberian regions, followed eventually by all populated localities.

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:

- Australia Consumer Electronics Report Q2 2013
- Argentina Consumer Electronics Report Q2 2013
- Malaysia Consumer Electronics Report Q2 2013
- Chile Consumer Electronics Report Q3 2013
- Indonesia Consumer Electronics Report Q3 2013
- Turkey Consumer Electronics Report Q3 2013
- Bulgaria Consumer Electronics Report Q3 2013
- China Consumer Electronics Report Q2 2013
- Thailand Consumer Electronics Report Q2 2013
- Brazil Consumer Electronics Report Q2 2013