Williamstown, MA -- (ReleaseWire) -- 05/08/2012 -- China's consumer electronics devices market, defined to include computing devices, mobile handsets and video, audio and gaming products, is forecast to be worth about US$201.0bn in 2012, and this is expected to increase to US$289.7bn by 2016. Consumer electronics sales should grow continue to grow strongly in 2012, boosted by economic recovery, product innovation and the rural subsidy programme.
Based on advanced orders, Chinese retailers appeared to be optimistic about the outlook for increased sales of flat-screen TV sets and other consumer electronic products in 2012.Vendors will look to newer technologies such as Smart TVs; LED TV sets, which were expected to comprise around 50% of flatpanel sales in 2011; and 3D TV sets, forecast at around 10-20%, to drive sales.
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Smartphones are one particular growth area, with high double-digit growth forecast after sales of around 99mn were estimated in 2011. A second phase of the government's rural consumer electronics subsidy programme will also drive sales of flat-screen TV sets and other products in rural areas.
Spending on consumer electronics products is projected to grow at a CAGR of 9.6% through 2016, with demand for computers and TV sets in rural areas and tier-three to tier-six cities a key driver, along with the increased popularity of high-end items such as flat-screen TV sets, tablet computers, 3G mobile handsets and smartphones.
Computers accounted for about 40% of China's consumer electronics spending in 2011. BMI forecasts Chinese domestic market computer hardware sales (including notebooks and accessories) of US$81.3bn in 2012, up from US$72.6bn in 2011. Computer hardware CAGR for 2012-2016 will be about 10.4%. The government's rural computer subsidy programme will act as a significant driver, along with falling prices.
AV devices accounted for about 39% of Chinese consumer electronics spending in 2011. China's domestic video, audio and gaming device market is projected to grow at a CAGR of 9.3% between 2012 and 2016, up to a value of US$112.1bn. About 47mn LCD TV set units are projected to be sold in 2012, with strong double-digit growth as Chinese consumers demonstrate a preference for larger screen sizes and internetenabled TV sets.
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