BMI View: We believe the conditions are in place for Serbia's devices market to reverse multi - year underperformance and move to a much stronger growth trajectory over the medium term. Economic conditions have been hostile in recent years, but a growth acceleration and dinar appreciation are forecast for 2017-2020 , which will provide the purchasing power gains to deepen the market and unlock deferred spending from 2014-15. This will allow vendors to tap relatively low penetration rates right across the market, and ease price sensitivity, which is the basis for our device spending forecast at a CAGR of 8.1% over 2016-2020 to USD957mn in 2020.
|Device Sales To Be Buoyed By Stronger Dinar|
|Serbia Household Income Breakdown (2016-2020)|
|f = BMI forecast. Source: National sources, BMI|
Latest Updates And Industry Developments
Computer Hardware Sales: USD261mn in 2016 to USD351mn in 2020, corresponding to a CAGR of 7.7%. First-time buyer opportunities and pent-up replacement demand should be the basis for sustained growth, but there is downside if increasingly powerful smartphones cannibalise PC demand.
AV Sales : USD135mn in 2016 to USD167mn in 2020, corresponding to a CAGR of 5.6%. There is also pent-up AV upgrade demand set to be tapped from 2017, but with the digital camera market on a permanently lower trajectory as a result of smartphone cannibalisation, the segment will underperform over the medium term.
Handset Sales : USD305mn in 2016 to USD439mn in 2020, corresponding to a CAGR of 9.5%. There is still first-time smartphone upgrade momentum in Serbia, which trails much of the region in terms of penetration in 2016, which will mean growth is much stronger than in the more saturated European markets over the medium term.
The Serbia 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 Serbia.
BMI Research's Serbia 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 Serbia.
- Benchmark BMI's independent consumer electronics industry forecasts for Serbia to test other views - a key input for successful budgeting and strategic business planning in the Serbian consumer electronics market.
- Target business opportunities and risks in Serbia 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.