New Market Report: Vietnam Consumer Electronics Report Q1 2016

From: Fast Market Research, Inc.
Published: Mon Feb 15 2016

We believe the Vietnamese economic and consumer electronics growth story is resilient and we maintain our bullish medium - term outlook in the Q116 update. Broad - based economic growth is expected to have a positive impact on the household income profile of Vietnam over the medium term, which will deepen the devices market, as well as easing price sensitivity in the higher value replacement market. Meanwhile, falling average device prices in key device categories will add to device spending growth momentum. We forecast a CAGR of 9.1% for 2016-2019, with even stronger growth expected in the smartphone, tablet, and LED/LCD TV set markets. However, t here is downside to this outlook, with a hard landing in China or a broader emerging market debt crisis following rate rises in the US holding the potential to derail our core scenario.

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Latest Updates & Industry Developments

Computer Hardware Sales: USD1.49bn in 2016 to USD1.99bn in 2019, a compound annual growth rate (CAGR) of +9.1% in US dollar terms. Significant growth potential exists due to low device penetration rates, which we expect to be unlocked due to the strength of income growth trends in Vietnam over 2016-2019.

AV Sales : USD1.25bn in 2016 to USD1.38bn in 2019, a CAGR of +8.2%. Significant potential for upgrade sales in the flat panel TV market in Vietnam, in contrast to developed APAC markets, while the digitisation of TV services will add to growth momentum.

Handset Sales : USD3.15bn in 2016 to USD3.56bn in 2019, a CAGR of +9.5%. Smartphone upgrade momentum will underpin the expansion of the handset segment over the medium term by driving up the average selling price in the handset market as a whole, but due to increased saturation growth will decelerate over the forecast period.

The Vietnam 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 Vietnam.

BMI Research'sVietnam Consumer Electronics Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the consumer electronics industry in Vietnam.

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