BMI View: Despite the short term challenges presented by the weak economic environment we consider the consumer electronics market in Bulgaria to have strong medium-term growth potential. There is relatively low device penetration in most categories meaning vendors can tap the first-time buyer and upgrade/replacement market as incomes rise. As device prices decline and incomes rise we believe Bulgaria could be a regional outperformer over the medium term. However, in the short term we expect difficult trading conditions to persist in many segments of Bulgaria's consumer electronics market in 2014 . The uncertain economic outlook continues to undermine consumer confidence, keeping household spending subdued. Despite the challenges for vendors we expect growth areas in 2014 will include smartphones, flat-panel TV sets and low-cost Android tablets.
Headline Expenditure Projections
Computer Sales: US$555mn in 2013 to US$576mn in 2014, +6.3% in US dollar terms. The decline in sales of desktops and notebooks will continue, but at a slower pace, while booming tablet sales will offset declines.
AV Sales: US$387mn in 2013 to US$427mn in 2014, +10.3% in US dollar terms. Forecast in US dollar terms unchanged, with flat-panel TV sets expected to see the strongest growth.
Handset Sales: US$290mn in 2013 to US$312mn in 2014, +7.5% in US dollar terms. Smartphone sales continue to grow strongly, driven by the popularity of low-to-mid range devices.
Key Trends & Developments
Smartphone sales are driving the handset market as a whole. Unit sales increased markedly in 2013 as declining device prices in the Android ecosystem made smartphones a mass market product in Bulgaria. The major beneficiary in terms of vendors was global leader, Samsung Electronics, as it made gains at the expense of other Android partner vendors and former market leader Nokia. However another Android vendor, Chinese Huawei Technologies made significant gains in 2013 and BMI expects it to...
The Bulgaria 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 Bulgaria.
Business Monitor International (BMI)'s Bulgaria 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 Bulgaria.
- Benchmark BMI's independent consumer electronics industry forecasts for Bulgaria to test other views - a key input for successful budgeting and strategic business planning in the Bulgarian consumer electronics market.
- Target business opportunities and risks in Bulgaria 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 Ratings
BMI's Consumer Electronics Business Environment Ratings provide a country-comparative Risk-Reward Ratings index aimed at investors and participants in the regional consumer electronics market. The ratings methodology makes sophisticated use of over 40 industry, economic and demographic data points.