BMI View: T he Serbian consumer electronics market is one of the least lucrative in per capita terms in the region, but the low penetration rate in key device categories has nonetheless attracted global vendors. However, growth rates will remain moderate over the medium term due to the challenging economic environment. We forecast Serbian consumer electronics spending will grow just over 3 % in US dollar terms in 2014 to USD1.3 bn, and reach USD1.4bn in 2018. There is however upside potential for Serbia consumer electronics growth if the economic recovery is faster than expected - which would unlock demand from low penetration rates. Household PC penetration, despite more than doubling over the previous five years, remains 30 pps below the regional average , while smartphone penetration of 31 % at the end of 2013 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: USD399mn in 2013 to USD410mn in 2014; +2.8% in US dollar terms. Low device penetration rates offer faster volume growth rates than elsewhere in Europe, however, weak economic conditions and a shift in consumption to cheaper tablets will limit value growth.
AV Sales : USD358bn in 2013 to USD372mn in 2014; +3.9% in US dollar terms. After declines in 2012 and 2013 we expect the market to return to growth as the FIFA World Cup in Brazil boosts TV set sales in 2014.
Handset Sales : USD373mn in 2013 to USD384mn in 2014; +3.0% 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
In February 2014 global leader in the premium hardware segment for notebooks and tablets, Apple, announced the opening of an Apple Premium Reseller store in the capital of Belgrade. The store in the Delta City Shopping Centre will...
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 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.