New Market Research Report: India Consumer Electronics Report Q1 2015

India's status as a large emerging market that is making progress on the policy environment for a range of sectors, combined with its late developer status in terms of consumer electronics device adoption rates, means we expect it to be a regional outperformer over the medium term. We expect the market to remain on a strong growth trajectory 2015-20 1 8 , with particularly robust demand growth for computer hardware and handsets expected . We forecast the total consumer electronics spend in India will increase by 8.1 % in US dollar terms in 2015 to USD 76.9 bn , and then reach USD92.5bn in 2018 . We expect medium term growth will be driven by rising incomes, declining device prices and the fact that 45% of India's population is under 25.

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Headline Expenditure Projections

* Computer Hardware Sales: USD20.8bn in 2014 to USD23.6bn in 2015; +13.7% in US dollar terms. We expect robust demand growth for desktops and notebooks, but it will again be the tablet market that is the primary driver of value growth.
* AV Sales: USD15.1bn in 2014 to USD15.9bn in 2015; +5.5% in US dollar terms. AV is forecast is unchanged, and we maintain our view that it will be the underperforming segment of the market as TV set price erosion limits increases in market value.
* Handset Sales: USD35.4bn in 2014 to USD37.4bn in 2015; +5.9% in US dollar terms. We expect a slowdown in value growth in the handset market as intense price competition squeezes vendor margins, particularly in the smartphone market.

Key Trends & Developments

India is expected to become the largest contributing market to smartphone volume growth at the global level in 2015, taking over the mantle from neighbouring China. BMI estimates smartphone penetration among the adult population was just 14% at YE14, far below China and other emerging APAC markets, and this translates into strong growth potential. While the smartphone volume growth outlook is robust in India, the intense competitive environment...

The India Consumer Electronics Report has been researched at source and features latest-available data covering both the manufacture and sale of consumer electronics products, critically analysing - and forecasting - the market dynamics affecting each sub-sector, including audio-visual, computers, mobile handsets, gaming and automotives electronics. Furthermore, the report analyses the domestic and global economic trends driving device demand and provides company rankings and competitive landscapes covering leading multinational and national consumer electronics companies and analysis of latest industry news and trends in India.

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