BMI View: Although the Serbian consumer electronics market is one of the least lucrative and developed in the region, it has strong growth prospects over the medium term which attracts investments from global vendors. We project Serbian consumer electronics spending will grow by about 7% in US dollar terms in 2013 to US$1.2bn, and continue to outperform regional markets over the medium term to 2017. Sales growth rates will be higher than elsewhere in the region as incomes rise and vendors tap the low penetration rates for many consumer electronics devices. Household PC penetration, despite more than doubling over the previous five years, remains at below 30%, while smartphone penetration of around 15% is also a long way below the regional average, and could more than double over the next two years.
Headline Expenditure Projections:
Computer Hardware Sales: US$480mn in 2013 to US$477mn in 2014; -0.7% in US dollar terms. Low device penetration rates offer faster growth rates than elsewhere in Europe, however, weak economic conditions and a shift in consumption to cheaper tablets will limit value growth.
AV Sales : US$420mn in 2013 to US$436mn in 2014; +3.8% in US dollar terms. Flat-screen TV sets will be the main growth driver as Serbia continues its steady migration to digital broadcasting.
Handset Sales : US$293mn in 2013 to US$311mn in 2014; +6.4% in US dollar terms. The handset market is the most dynamic segment of the consumer electronics market as affordable smartphones drive growth, pushing up the average selling price for handsets.
Key Trends & Developments
The PC market in Serbia is expected to exhibit mixed performance in 2014, but has solid medium term growth potential. The Serbian PC market is relatively undeveloped, with household PC penetration reaching 59.9% in 2013, 20pps below the EU-27 average of 80%. Low penetration means there is still an opportunity for vendors to tap the first-time buyer market, as well as the upgrade/replacement market....
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.
Business Monitor International (BMI)'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 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.