BMI View: After a double- digit contraction in 2015 when kuna depreciation hit consumer electronics spending in Croatia, we forecast a return to growth from 2016 and a CAGR of 2.9% for 2016-2020. A stronger economic environment including GDP growth and kuna appreciation will be a welcome boost for vendors after recession during 2009-2014 and then the blow to affordability from depreciation in 2015. This will allow vendors to tap remaining first-time buyer opportunities as confidence increases, as well as deferred upgrade/replacement purchases from the preceding period of economic uncertainty .
Latest Updates & Industry Developments
Computer Hardware Sales: USD260mn in 2016 to USD286mn in 2020, a CAGR of 2.4%. Outlook lowered in Q416 as a result of the threat to PC spending posed by consumers' increasing preference for smartphones as their computing devices.
AV Sales: USD218mn in 2016 to USD242mn in 2020, a CAGR of 2.6%. Higher-value Ultra HD TV set upgrades will boost spending now that the core flat-panel upgrade boom has passed, putting the segment on a stronger trajectory from 2016.
Handset Sales: USD300mn in 2016 to USD346mn in 2020, a CAGR of 3.6%. After a slowdown in smartphone upgrades in 2015, we expect a reacceleration in 2016 and upgrade momentum to be maintained until the later years of the forecast.
|Smartphones Still A Growth Opportunity|
|Croatia Smartphone Forecast|
|f = BMI forecast. Source: BMI|
The Croatia Consumer Electronics Report has been researched at source and features latest-available data covering both the manufacture and sale of consumer electronics products, critically analysing - and forecasting - the market dynamics affecting each sub-sector, including audio-visual, computers, mobile handsets, gaming and automotives electronics. Furthermore, the report analyses the domestic and global economic trends driving device demand and provides company rankings and competitive landscapes covering leading multinational and national consumer electronics companies and analysis of latest industry news and trends in Croatia.
BMI Research's Croatia Consumer Electronics Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the consumer electronics industry in Croatia.
- Benchmark BMI's independent consumer electronics industry forecasts for Croatia to test other views - a key input for successful budgeting and strategic business planning in the Croatian consumer electronics market.
- Target business opportunities and risks in Croatia through our reviews of latest industry trends and major deals, projects and investments.
- Exploit the latest competitive intelligence with company SWOT analyses.
BMI Industry View
Summary of BMI's key industry forecasts, views and trend analysis covering consumer electronics, major investments and projects.
Consumer Electronics Market
Analysis of the size of the domestic market for electronics products, with in-depth assessment and data covering the dynamics driving each sub-sector; audio-visual, computers, mobile phone handsets and gaming devices, as well as demand for automotives electronics.
Analysis and data of the domestic electronics manufacturing sector. We assess the regulatory and business operational issues facing manufacturers - including openness to foreign investment, infrastructure, IP issues and the global demand context - and their impact on the production of electronics goods, which is again broken down via market sub-sectors.
Industry Forecast Scenario
Historic data series and forecasts to end-2018 for all key industry and economic indicators (see list below), supported by explicit assumptions, plus analysis of key risks to the main forecast, covering computers, communications and gaming devices. Indicators include:
Industry value (US$bn); population (mn); nominal GDP (US$bn); real GDP growth (%), GDP per capita, industrial production Index (% y-o-y ave.) unemployment % of labour force.
Business Environment Rankings
BMI's Consumer Electronics Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors and participants in the regional consumer electronics market. The rankings methodology makes sophisticated use of over 40 industry, economic and demographic data points.