We maintain a subdued outlook for the consumer electronics market in Saudi Arabia due to the negative shocks related to the global collapse in the price of oil. We believe that weaker consumer confidence will continue to exacerbate the drag on consumer electronics spending due to saturation in device categories such as tablets and LED/LCD TV sets. This underpins our forecast for muted growth in the Saudi consumer electronics market over 2016-2020 at a compound annual growth rate of 0.8%. While the overall environment will be challenging we identify lucrative opportunities for vendors in the premium segment, namely high-end smartphones and OLED TV sets, due to high incomes and a fashion-conscious domestic consumer base. The low end of the market may however be constrained due to the exit of a considerable number of migrant workers under the governments 'Saudisation' policy.
Latest Updates & Industry Developments
■ Computer Hardware Sales: Set to decrease from USD4.29bn in 2016 to USD4.19bn in 2020, a CAGR of -1.3%. The market outlook was already subdued due to high device penetration and the potential for price erosion, including in the tablet market, but this was exacerbated by the weaker economic outlook and we now expect the market to contract over the medium term.
■ AV Sales: USD1.60bn in 2016 to USD1.73bn in 2020, a CAGR of +1.6%. After three successive years of contraction we envisage a return to growth, although not to previous highs due to cannibalisation of digital camera volumes, with the increased popularity of OLED TV sets providing a boost to market value.
■ Handset Sales: USD6.15bn in 2016 to USD6.61bn in 2020, a CAGR of 2.0%. The handset market will outperform based on the strength of demand for premium devices, and particularly phablets.
Table of Contents
2. Report Scope
3. Consumer Electronics Overview (Saudi Arabia 2014-2020)
4. MEA Consumer Electronics Risk/Rewards Index, Q216
5. Market Overview
6. Mobile Communications (Saudi Arabia 2014-2020)
7. Modern Electronics Company Limited
8. Population Headline Indicators (Saudi Arabia 1990-2025)
9. Consumer Electronics Risk/Reward Index Indicators
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