Fast Market Research recommends "Singapore Consumer Electronics Report Q4 2013" from Business Monitor International, now available

Boston, MA -- (SBWire) -- 11/04/2013 --We forecast that Singapore's consumer electronics spending will increase 3.9% in US dollar terms in 2014 to reach US$4.4bn. In 2013, spending on high-end consumer electronics products has been supported by the tight labour market. Strong sales of smartphones, tablets, Blu-ray players and digital cameras have underlined the relative buoyancy of Singapore's consumers, as well as the popularity of technology products as gifts. Singapore has one of the highest smartphone penetration rates in the world, estimated at around 75%. In the AV category, digital broadcasting migration will create a market for digital converters based on the DVB2 standard. There are a number of other key growth areas, such as 3G phones, Wi-FI-enabled, ultra-HD and Smart 3D TV sets, Blu-ray DVD players, tablets and high-end notebooks.

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Headline Expenditure Projections

Computer hardware sales: US$2.95bn in 2012 to US$3.03bn in 2013, +2.8% in US dollar terms. Forecast in US dollar terms downgraded slightly as sales of lower cost tablets contributes to a faster pace of price erosion.

AV sales: US$940mn in 2012 to US$998mn in 2013, +6.1% in US dollar terms. Forecast in US dollar terms unchanged, with product innovation the main growth driver.

Handset sales: US$349mn in 2012 to US$374mn in 2013, +7.1% in US dollar terms. The fastest growing segment of the consumer electronics as consumers upgrade/replace smartphones.

Risk/Reward Ratings

Singapore's score was 71.3 out of 100.0, which gives it second place in our latest Asia Consumer Electronics (CE) Risk/Reward Ratings (RRR) table, behind only Australia. The country's high Industry Risk and Country Risk scores of 85 and 85.8 respectively reinforce the competitive CE market.

Key Trends & Developments

Apple has been highly successful in both the smartphone and tablet markets in Singapore where a combination of high incomes, technological literacy and strong supporting telecoms infrastructure have combined to create demand for its products. However, the US giant has come under increasing pressure as Samsung's flagship Galaxy S3 and S4 devices, along with its pioneering of the phablet device category, have eaten into its market share. Meanwhile, PC browsing traffic data for Singapore indicate that a similar trend is now occurring in the tablet market. BMI expects the array of high specification Android tablets hitting the market at price points below those for the iPad will see its market share decline in H213 and into 2014.

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