DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/ae7264/singapore_consumer) has announced the addition of the "Singapore Consumer Electronics Report Q3 2011" report to their offering.
Singapore Consumer Electronics Report provides industry professionals and strategists, corporate analysts, electronics associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Singapore's consumer electronics industry.
Singapore's consumer electronics devices market, defined as the addressable market for computing devices, mobile handsets and AV products, is projected to be worth around US$4.0bn in 2011. This is expected to increase to US$4.9bn by 2015, at a 2011-2015 compound annual growth rate (CAGR) of 5%, which is slower than in the preceding five years.
In 2011, spending on high-end consumer electronics products should be supported by rising living standards. BMI forecasts private consumption growth of 5.8% in 2011, the same as 2010. Monthly retail sales have increased steadily over the past year, while nominal wages also rose.
Strong sales of smartphones in 2010 underlined the opportunity for high-end product innovation to drive revenues growth in the mature Singaporean market. Meanwhile, TV set sales recorded high single-digit growth in 2010, driven by demand for larger screen-sizes and LED models. Vendors will play to consumers' enthusiasm for new technologies with releases of LED, 3D and internet-enabled TV sets. Computers accounted for around 70% of Singapore's consumer electronics spending in 2010. BMI forecasts Singapore computer hardware sales of US$2.7bn in 2011. With government projects helping to sustain the computer market, CAGR for the 2011-2015 period will be around 6%, with most consumer growth driven by demand for tablets and multimedia and entertainment notebooks as second household PCs.
Singapore's domestic video, audio and gaming device market is forecast at US$874mn in 2011, with mid single-digit growth from 2010. The market is expected to grow at a CAGR of 5% between 2011 and 2015 to a value of US$1.1bn. Video applications will provide revenue growth at a slower rate due to price erosion, but product innovation will support sales. The first internet-enabled TV sets appeared on the market in 2010 and the Singapore Media Authority plans to launch 3D TV trials by the end of the year. Meanwhile, digital cameras continued to sell well in the Singaporean market in 2011, with most demand still for lower-priced compacts.
Read more inside Singapore Consumer Electronics Report Q3 2011
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