BMI View: Croatian s pending on consumer electronics has been constrained in 2012 and 2013 as the economic recovery remains sluggish. Recently released data from the Croatian Bureau of Statistics showed that retail sales declined by 0.4% year-on-year (y-o-y) in October, from a 0.5% y-o-y contraction the previous month, supporting our view that a significant recovery in private consumption remains some way off. Although we expect domestic demand to recover gradually over the long term, as the country's modest economic recovery begins translating into a slight in improvement in household disposable incomes, low wage growth, economic uncertainty and low lending from banks should ensure that any recovery in domestic demand remains sluggish over the coming quarters. Even with these challenges, we expect growth to remain positive across all three segments of the market, with spending driven by several underlying trends. Demand for consumer lifestyle products such as smartphones, tablets, Smart TV sets and Wi-Fi enabled digital cameras will be the areas of fastest growth. The launch of Croatia's first national smartphones from HG Spot and M Sans Group in H213 could also be a contributor to growth.
Headline Expenditure Projections
Computer Hardware Sales: US$824mn in 2012 to US$867mn in 2013; +5.2% in US dollar terms. Weak economic conditions are limiting big-ticket purchases, while the shift in the composition of sales to cheaper tablets is an additional squeeze on the growth of sales value.
AV Sales: US$256mn in 2012 to US$266mn in 2013; +3.8% in US dollar terms. The UEFA Euro-2012 tournament and the London Olympics provided a boost to demand for flat-screen TV sets last year.
Handset Sales: US$228mn in 2012 to US$247mn in 2013; +8.2% in US dollar terms. The handset market is expected to fare better in a challenging macro environment due to lower average selling prices and the support provided by operator smartphone sales as they look to generate value from their...
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.
Business Monitor International (BMI)'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 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.