Boston, MA -- (ReleaseWire) -- 05/05/2014 -- Despite its small population, BMI has a positive outlook for Qatar's consumer electronics market, owing to high GDP per capita and strong demand for new technologies.
We forecast a compound annual growth rate (CAGR) of 9.4% for the computer hardware market between 2014 and 2018, supported by average real private consumption growth of 8.6%. Our bullish outlook is also the result of government investment in diversifying the economy away from hydrocarbons and building up its ICT sector, most notably through e-government and smartcity initiatives. Within the market, we believe strong growth in Qatar's tourism and hospitality sectors will sustain demand for AV devices, while Ooredoo's aggressive promotion of its 4G LTE network will boost mobile handset sales in the medium term.
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Headline Expenditure Projections
- Computer hardware sales: We forecast sales of USD671mn in 2014 and forecast this to rise to USD986mn by 2018, a CAGR of 9.4% in US dollar terms.
- AV sales: We forecast growth to increase from USD400mn in 2014 to USD556mn in 2018, a CAGR of 8.6% in US dollar terms. In US dollar terms our forecast is unchanged, with flat-screen, Smart and 3D TV sets the main growth driver. BMI believes increasing sophistication and innovation in smart TV interfaces is required to boost growth in the market.
- Handset sales: We forecast growth to rise from USD136mn in 2014 to USD205mn in 2018, a CAGR of 11.5% in US dollar terms. Intense competition between leading international vendors and newer vendors from China as well as migration to 4G LTE mobile services will maintain smartphone demand growth.
Qatar remained in the top position on our Risk/Rewards table for the Middle East and Africa region this quarter, with an aggregate score of 61.5 out of 100. Qatar's leading position is because of its proactive regulator, ictQatar, which has made strides in creating growth opportunities in the sector, as well as the country's positive economic growth outlook.
Key Trends And Developments
- According to GfK, Samsung is the leader Qatar's smartphone market with a share of 64% in December 2013. In the entire handset market it is leading with a share of 59.6%. Its leading market position is underpinned by strong sales of its flagship Galaxy S3/S4 range and the Galaxy Note, as well as its broad range of mid-range feature phones and smartphones.
- Meanwhile, Huawei's exclusive handset distributor for Qatar, Informatica Qatar, stated that it had a handset market share of 5% in December 2013, less than two years after entering the market. At that time, iQ stated its goal double Huawei's share to 10% by the end of 2015, through improved distribution channels and aggressive marketing.
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