Hungary Consumer Electronics Report Q2 2016
BMI View: The medium-term outlook for Hungarian consumer electronics device spending is a markedimprovement over 2015 and 2016. We forecast a CAGR of 5.7% over 2016-2020 to total device spending ofUSD2.3bn in 2020, boosted by forint appreciation forecast by our Country Risk team from 2017 that willincrease purchasing power, as well as unlock deferred purchases from 2015 and 2016. The AV and PCmarkets were most severely impacted by depreciation in 2015 and 2016, and it is in these segments that weenvisage the most significant improvement over the medium term. While we expect improvement, there isstill downside, with Hungary's economy potentially susceptible to shocks from global headwinds, andregional or national political risks.
Latest Updates And Structural Trends
Computer Hardware Sales: USD652mn in 2016 to USD925mn in 2020, a compound annual growthrate (CAGR) of 6.5%. Weak performance expected in 2016, but purchasing power growth from 2017should see the market accelerate, with deferred purchases from 2015 and 2016 adding to momentum.
AV Sales: USD367mn in 2016 to USD499mn in 2020, a CAGR of 5.2% in US dollar terms. The marketwill not return to previous peak at height of flat-panel TV set and digital camera boom, but smart TV andUltra-HD set upgrades will boost the market over the medium term.
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