Analyst GfK predicts that worldwide expenditure on consumer electronic equipment will boom. This year’s global sales total is expected to top a massive $678bn, up 9.4% on last year’s total, with greater sales out of the developing “BRIC” countries.
While some markets might suffer an economic downturn, says GfK, these will be compensated for by those BRIC (Brazil, Russia, India and China) markets especially for traditional items (cell phones, LCD displays and MP3 players). BRIC countries will be responsible for much of this year’s boom in growth, says GfK.

“Around the world, consumers are spending more and more on an array of electronic goods: from LCD TVs to MP3 players, consumers are getting equipped with technical consumer equipment. The market is experiencing significant technological transformation thereby gestating new markets across the planet. After two years of double digit growth (2006 & 2007), GfK/CEA forecasts a healthy growth of 9.4% in 2008 over 2007; the current year looks bright for the technical consumer equipment market,” says GfK.

“There seems to be a paradox,” the report continues. “Petrol prices are at an all time high, economic downturns in many countries, but the global TCE market paints an optimistic picture. Consumers are being seduced not only by technological innovations but also by price erosion, a common phenomenon in the TCE market. Today, a more informed global consumer (mainly thanks to the easy information flow in the world today), is better equipped to face the overwhelming choice of technical consumer products.”

“It is important to note that consumption varies by region and by country,” the report continues. “The world market is indeed diverse. With this in mind, 2008 TCE growth will come mainly from the BRIC2 countries. China is in the spotlight in the latter half of 2008: all eyes are on the summer Olympics event. In 2008, the Asia & Oceania region will grow at the rate of 16.5% in value. On the other end, mature markets such as North America and Western Europe will witness slowdown in 2008, although these markets will continue to see the advent of state of the art products and technology. Discrepancies also exist in market structure: product structures vary significantly. The important indicator of the regional discrepancies TCE consumption is the Gross Domestic Product. For example, in regions with high average GDP, the replacement of cathode ray televisions by flat panel televisions will take place at a faster rate.”

Households and pockets of consumers will witness the arrival of technical consumer equipment: Both are getting more “digital” by the day. The mobile phone would remain the most popular electronic good, more so in the populous countries of China and India. The Asian region (without Japan) represents 36.3% of total mobile sales in volume in 2008. Flat TV acceptance will continue to thrive around the world. Flat screens in 2008 will represent 17% of total TCE expenditure in the world, GfK/CEA forecasts a growth of 32.4% in volume for flat screens with an average price of $1008.

Right behind are the computers: the PC market will represent 16.8% of total consumer expenditure in 2008. The forecast for the digital camera market is 137m units for 2008. The digital camera can be considered the engine of the “imaging” eco-system. The engine is tagging along several markets – paper, cartridges, dedicated photo printer, digital photo frame, pouches, batteries, memory cards, reflex interchangeable lenses and so on. In a more mature market such as Western Europe, half of these sales will be accounted for by renewal phenomenon or multi ownership. Likewise, the MP3 revolution has also spawned the growth and birth of many accessory products, ranging from adaptors, chargers, FM transmitters, protective casings, in-car adaptors and docking stations. The MP3/4 player market in 2008 will grow at 8.2% in volume; a slight slowdown from a strong double digit growth in 2007 (+19.3%), says GfK.

__________________
Press if you find post usefull.
Use "SEARCH" Before Posting, Post In Correct Sections, Respect Other Members.
AND ALWAYS REMEMBER... FOLLOW !!