Business Monitor International


Hungary Consumer Electronics Report

Published 10 November 2014

  • 72 pages
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  • Includes 3 free updated quarterly reports
 
$1,295.00
Hungary Consumer Electronics Report

BMI View: T he Hungarian consumer electronics market has suffered from the challenging economic environment in Hungary in recent years but demand recovered in 2014 as a result of technology trends , ie booming tablet and smartphone sales, as well as the fact upgrade demand was brought forward by the withdrawal of XP support and the FIFA World Cup . Although several macroeconomic indicators are expected to continue to strengthen in 2015 , the depreciation of the forint against the US dollar will mean trading conditions remain challenging and we expect demand to contract in US dollar terms in 2015 . Despite the ongoing drag on growth, we believe the Hungarian market retains the potential for medium - term growth . Home computer penetration remains low compared with peer group countries while internet penetration is also relatively low as a percentage of households. Meanwhile, i n the handset market, c onsumers are increasingly becoming data-centric, offering scope for smartphone adoption as vendors offer low-cost devices .

Headline Expenditure Projections

  • Computer Hardware Sales: USD934mn in 2014 to USD875mn in 2015, a decrease of 6.4%. Depreciation of the forint will weigh on demand in 2015, exacerbated by the fact considerable desktop upgrade demand was brought forward by the withdrawal of support for the XP OS in 2014.

  • AV Sales: USD505mn in 2014 to USD504mn in 2015, -0.2% in US dollar terms. Digital camera and mp3 markets will continue to contract, but volumes are beginning to stabilise after the boom in smartphone volumes cannibalised sales.

  • Handset Sales: USD682mn in 2014 to USD690mn in 2015, +1.2% in US dollar terms. Marked slowdown from 2014, but expected to be the only segment to continue growing as operator subsidies help to support market growth despite the constraints on Hungarian consumers.

Key Trends And Developments

The Hungarian IT and consumer electronics base has been hit by several trends in recent years including...

Table of Contents

BMI Industry View
7
SWOT
9
Insurance
9
Political
11
Economic
12
Industry Forecast
13
Total Premiums Forecast
13
Total Premiums
13
Table: Total Gross Premiums Written (Hungary 2011-2018)
14
Table: Total Net Premiums Written (Hungary 2011-2018)
15
Reinsurance Premiums
15
Table: Total Reinsurance Premiums Written (Hungary 2011-2018)
16
Claims
16
Table: Total Insurance Claims (Hungary 2006-2013)
16
Assets and Liabilities
17
Table: Total Insurance Assets (Hungary 2006-2013)
17
Life Premiums Forecast
18
Life Premiums
19
Table: Gross Life Premiums Written (Hungary 2011-2018)
20
Table: Net Life Premiums Written (Hungary 2011-2018)
20
Reinsurance Life Premiums
21
Table: Reinsurance Life Premiums Written (Hungary 2011-2018)
21
Life Insurance Claims
22
Table: Life Insurance Claims (Hungary 2006-2013)
22
Life Insurance Assets And Liabilities
22
Table: Assets (Hungary 2006-2013)
23
Life Insurance Drivers
23
Table: Insurance Key Drivers, Disease Adjusted Life Years (Hungary 2011-2018)
23
Table: Insurance Key Drivers, Private Health Expenditure (Hungary 2011-2018)
25
Non-Life Premiums Forecast
26
Non-Life Premiums
26
Table: Gross Non-Life Premiums Written (Hungary 2011-2018)
27
Table: Net Non-Life Premiums Written (Hungary 2011-2018)
28
Non-life Reinsurance
29
Table: Reinsurance Non-Life Premiums Written (Hungary 2011-2018)
29
Non-Life Claims
29
Table: Non-Life Insurance Claims (Hungary 2006-2013)
30
Non-Life Assets
30
Table: Assets (Hungary 2006-2013)
30
Non-Life Subsectors Forecast
31
Table: Non-Life % Breakdown (Hungary 2011-2018)
31
Motor and Transport Insurance
32
Table: Motor Vehicle Insurance (Hungary 2011-2018)
34
Table: Insurance Key Drivers, Autos (Hungary 2011-2018)
34
Table: Transport Insurance (Hungary 2011-2018)
35
Table: Insurance Key Drivers, Freight Tonnage (Hungary 2011-2018)
36
Property Insurance
36
Table: Property Insurance (Hungary 2011-2018)
37
Accident And Health Insurance
37
Table: Personal Accident Insurance (Hungary 2011-2018)
37
Table: Health Insurance (Hungary 2011-2018)
38
Liability And Credit Insurance
38
Table: General Liability Insurance (Hungary 2011-2018)
38
Table: Credit/Financial Guarantee Insurance (Hungary 2011-2018)
39
Industry Risk Reward Ratings
40
Central and Eastern European Risk/Reward Index
40
Table: Central And Eastern Europe Risk/Reward Index - Q1 2015
41
Market Overview
42
Life Market Overview
42
Table: Life Insurance Premiums (USDmn), 2006-13
44
Table: Life Insurance Market (%) 2007-2013
45
Non-Life Market Overview
46
Table: Non-Life Insurance Market (USDmn) 2007-2013
47
Table: Non-Life Insurance Market (%) 2007-2013
48
Company Profile
50
Allianz
50
Generali
53
Groupama
57
UNIQA Group
59
Vienna Insurance Group (VIG)
62
Demographic Forecast
65
Table: Hungary's Population By Age Group, 1990-2020 ('000)
66
Table: Hungary's Population By Age Group, 1990-2020 (% of total)
67
Table: Hungary's Key Population Ratios, 1990-2020
68
Table: Hungary's Rural And Urban Population, 1990-2020
68
Methodology
69
Industry Forecast Methodology
69
Risk/Reward Index Methodology
72
Table: Indicators
74
Table: Weighting of Indicators
75

The Hungary 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 Hungary.

Business Monitor International (BMI)'s Hungary 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 Hungary.

Key Benefits

  • Benchmark BMI's independent consumer electronics industry forecasts for Hungary to test other views - a key input for successful budgeting and strategic business planning in the Hungarian consumer electronics market.
  • Target business opportunities and risks in Hungary through our reviews of latest industry trends and major deals, projects and investments.
  • Exploit the latest competitive intelligence with company SWOT analyses.

Coverage

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.

Electronics Industry

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.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc