Boston, MA -- (ReleaseWire) -- 02/07/2014 -- Despite its small population, we have a positive outlook for Qatar's consumer electronics market, forecasting average annual growth of 9.5% between 2013 and 2017 in US dollar terms. This view is based on strong consumer demand for the latest technologies, as well as concerted efforts from the government to create opportunities in Qatar's ICT market, as a part of its broader strategy to diversify the economy away from hydrocarbons. This is supported by BMI forecasts of average annual private consumption growth of 7.9% and government consumption growth of 10% during the five years to 2017.
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Within the market, we believe telecoms operators' strategies to increase smartphone and tablet penetration will act as the major growth driver, supported by increased usages of these and laptop hybrids in the enterprise sector.
Headline Expenditure Projections
- Computer Hardware Sales: We estimate sales of US$624mn in 2013 and forecast these to rise to US $888mn by 2017, a CAGR of 9.2% in US dollar terms.
- AV Sales: We forecast growth to increase from US$368mn in 2013 to US$517mn in 2017, CAGR of 9% in US dollar terms. In US dollar terms our forecast is unchanged, with flat-screen, Smart and 3D TV sets the main growth driver due to a high penetration of existing TV sets. 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 US$119mn in 2013 to US$186mn in 2017, a CAGR of 12.5% in US dollar terms. Operator promotions and intense competition between leading international vendors and newer vendors from China 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 65.1. Qatar's leading position on in the rankings is because of its proactive regulator, ictQatar, which has made important strides in creating growth opportunities in the sector.
Key Trends & Developments
- The release of Microsoft's Windows 8 in October 2012 and Intel's new Haswell chipsets in June 2013 has ushered in a new period of innovation that will shape the PC market over the coming years. The launch of Windows 8 gave a wider range of vendors access to a touch compatible OS, which has sparked competition in terms of price and design that is deepening the tablet and laptop market. Haswell chips are also enabling more slimline design and longer battery life, enabling vendors to create hybrids/ convertibles and ultra-slim notebooks that leverage Microsoft's traditional strength in productivity software.
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