BMI View: The outlook for 2016 is mixed, with the Croatian economy still sluggish, but over the medium term we expect a combination of faster growth and kuna appreciation to put consumer electronics device spending growth on a faster trajectory. Purchasing power gains for Croatian households, particularly for the middle class, should create opportunities for vendors through replacement and upgrade spending, with an added boost from deferred purchases in recent years in difficult economic conditions. We forecast total consumer electronics device spending will increase at a CAGR of 3.7% over 2016-2020.
Latest Updates & Industry Developments
Computer Hardware Sales: USD265mn in 2016 to USD307mn in 2020, a CAGR of 3.7%. Deferred spending from recent years should be unlocked from 2017, but cannibalisation of replacement purchases by smartphones is a downside risk.
AV Sales: USD232mn in 2016 to USD268mn in 2020, a CAGR of 3.6%. A slowdown in digital camera volume cannibalisation, along with smart-TV set upgrades, will put the AV market on a stronger trajectory.
Handset Sales: USD315mn in 2016 to USD350mn in 2020, a CAGR of 3.8%. Smartphone upgrade demand will underpin handset outperformance, but as the market becomes increasingly saturated the growth rate will decelerate in the later years of the forecast.
|Middle Class Gains To Support Upturn In Device Demand|
|Croatia Household Income Breakdown (USD) (2016-2020)|
|f = BMI forecast. Soruce: BMI, Croatia Central Bureau of Statistics|
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.