India Consumer Electronics Report Q4 2017
BMI View: India is a leading global opportunity for medium-term consumer electronics spending growth.Low penetration rates, even compared to other emerging markets, mean there is potential to sell to firsttimebuyer households, as well as replacement devices to the middle class. We expect this potential to beunlocked over the medium term by a positive transformation of India's household income profile, with thenumber of USD5,000-plus annual income households expected to increase by almost 74mn during the2017-2021 period. Another positive is the increase in local assembly of mass-market devices such as TVsets, smartphones and notebook computers, with further upside if this extends to manufacture ofcomponents, and if the government broadens the incentive packages of the 'Make In India' initiative to otherdevice categories.
Latest Updates And Industry Developments
Computer Hardware Sales: USD13.2bn in 2017 to USD15.9bn in 2021, a compound annual growthrate (CAGR) of 2.9%. Rising incomes are the foundation for a robust medium-term outlook, with furtherupside if computer production hardware incentives are extended under the 'Make In India' initiative. Theshort-term view is compromised by significant contraction in demand for tablet and notebook computersin 2016/17 as high-end smartphones become more popular.
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