Boston, MA -- (ReleaseWire) -- 09/13/2012 -- BMI projects that Indian consumer electronics spending will grow by about 17% in US dollar terms in 2012 to US$32.4bn, driven by rising incomes and growing affordability. Only nine out of 1,000 people in India own a computer, one-fifth of the level in China. Meanwhile, Indian mobile penetration is about 57%. Another driver is that 45% of India's population is under 25. Spending on consumer electronics devices is projected to grow at an overall CAGR of 15% through to 2016, with the key segments including low-cost mobile handsets, colour TV sets, set-top boxes and notebook computers. Much of the growth during BMI's five-year forecast period will be driven by growing demand from India's relatively underpenetrated rural areas.
Headline Expenditure Projections
Computer hardware sales: US$8.3bn in 2011 to US$9.3bn in 2012, +11.0% in US dollar terms. Forecast in US dollar terms downwardly revised due to weaker than expected sales in Q411 as a result of component shortages linked to the floods in Thailand.
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