Home Video in Venezuela - New Market Research Report

From: Fast Market Research, Inc.
Published: Mon Dec 21 2015

Home audio and cinema retail volume sales are affected by government policies aimed at protecting the local consumer electronics manufacturing industry. In order to achieve its goals, the Venezuelan government has imposed a mix of artificial trade barriers including Certificates of No National Production before importing and restrictions on delivery of foreign currency to finished products importers. These policies have benefited domestic manufacturers, whilst 80% of products of this category are imported and consumers have been negatively affected by higher prices and lack of product diversity. This situation is expected to reduce volume sales by -16% in 2014.

Competitive Landscape

LG Electronics Venezuela SA led retail volume sales of home video with over 26% share in 2013. LG Electronics Venezuela SA has been distributing consumer electronics devices in Venezuela, including a variety of high-tech televisions, for more time than competitors. This long-standing presence gave the company a very strong strategic position from which to gain significant volume share following the tightening of import barriers since late 2012, a move that resulted in shortages in the supply of televisions in Venezuela. Sony Latin America Inc ranked second with a 17% share of overall volume sales, but continued leading LCD TVs with 38% of volume sales. Panasonic led plasma TVs with a 54% share of volume sales.

Full Report Details at
- http://www.fastmr.com/prod/1097622_home_video_venezuela.aspx?afid=302

Industry Prospects

Home video is expected to decline in volume terms over the forecast period with a negative CAGR of 2%, driven by the disappearance from the market of plasma TVs by 2016 and declining sales of DVD players. However, digital TVs is expected to increase with a CAGR of 6% in volume sales. The increase of LCD TVs has been hampered by import restrictions in 2013 and 2014, but growth is expected to recover by 2015 because consumers will increase demand as they switch to terrestrial digital television and also because there is expected the start of production by local companies with the support of Samsung Electronics de Venezuela CA and Haier, by which the government will open a mechanism to obtain foreign currency.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Home Video industry in Venezuela with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Home Video industry in Venezuela, our research will save you time and money while empowering you to make informed, profitable decisions.

The Home Video in Venezuela market research report includes:

* Analysis of key supply-side and demand trends

About Fast Market Research

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You may also be interested in these related reports:

- Home Video in Russia
- Home Video in Turkey
- Home Video in Australia
- Home Video in the Czech Republic
- Home Video in the US

Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
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