Croatia Consumer Electronics Report Q2 2016
BMI View: The Croatian consumer electronics market has been a regional underperformer with theeconomy in recession over 2009-2014, accompanied by kuna depreciation against the US dollar thatextended into 2015. Our medium-term outlook is brighter, enabled by a return to GDP and consumptiongrowth and kuna appreciation forecast for 2017-2020, that will underpin a consumer electronics CAGR of3.7% over 2016-2020. Stronger sentiment and rising household incomes will boost the market as a whole,while we identify more specific opportunities in device categories with relatively low penetration rates suchas tablets, hybrid notebooks, smartphones and smart TVs.
Latest Updates & Industry Developments
Computer Hardware Sales: USD265mn in 2016 to USD307mn in 2020, a CAGR of 3.7%. The marketis replacement centric, with PC ownership widespread, and as such it is personal devices that we expectto benefit from a more supportive economic environment over the medium term.
AV Sales: USD232mn in 2016 to USD268mn in 2020, a CAGR of 3.6%. Smart TV upgrades, Ultra-HDin the high income niche, and a slower rate of digital camera cannibalisation will support strongerperformance.
Handset Sales: USD315mn in 2016 to USD350mn in 2020, a CAGR of 3.8%. Smartphone upgradedemand will underpin handset outperformance, but as the market becomes increasingly saturated thegrowth rate will decelerate in the later years of the forecast.
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