"Vietnam Consumer Electronics Report Q4 2014" Published
New Consumer Goods market report from Business Monitor International: "Vietnam Consumer Electronics Report Q4 2014"
[USPRwire, Wed Oct 29 2014] There is short-term downside to our consumer electronics spending outlook due to a tightening of domestic credit conditions in H214 due to a build of bad debts by Vietnamese banks. However we maintain that Vietnam's consumer electronics market has a bright outlook as rising incomes and falling average device prices in key device categories over the medium term catalyse strong growth in spending. We estimate spending grew by 17 .4% in US dollar terms in 2013 to USD 4.5bn - and we have a positive outlook for the medium term with a CAGR of 6.2% forecast 2014-2018 . The country's vast, underpenetrated rural market offers the greatest growth potential, while Hanoi and Ho Chi Minh City accounted for most sales in 2013. Growth areas include smartphones, particularly low-cost devices from Chinese and local brands, and LED TV sets as Vietnam transitions from analogue to digital broadcasting . Vietnam is also rapidly becoming a key destination in global consumer electronics supply chains, with large investments announced by Samsung Electronics , Nokia and LG Electronics in 2013 and 2014 .
* Computer Hardware Sales: USD1.5bn in 2013 to USD1.7bn in 2014, +13.8% in US dollar terms. The low penetration of PCs means vendors can still tap the first-time buyer market, with low-cost tablets from Chinese OEMs proving especially popular with consumers.
* AV Sales : USD1.0bn in 2013 to USD1.2bn in 2014, +10.6% in US dollar terms. The FIFA World Cup in Brazil boosted TV set sales in 2014, but over the medium term it will be digitisation that drives growth.
* Handset Sales : USD2.0bn in 2013 to USD2.3bn in 2014, +15.8% in US dollar terms. We expect another strong year of growth for smartphone sales in Vietnam in 2014, which will drive up the average selling price in the handset market and support robust growth in overall market value.
Key Trends And Developments
The Vietnamese government plans to digitise...
The Vietnam 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 Vietnam.
Business Monitor International (BMI)'s Vietnam 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 Vietnam.
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