RNCOS

Middle East & African Consumer Electronics Market On Rise
Monday, May 21, 2007

The consumer electronics and home appliances market in MEA (Middle East & Africa) is showing exponential growth and it's expected to continue to do so in near future as well.

Boasting $7 billion's annual demand for high-tech products and consumer electronics goods, Middle East & African region is among the most rapidly growing emerging markets, say industry experts. "A young population keenly attuned to digital devices, and initiatives by several governments across the region to become shopping destinations, are partly responsible for this drive", as per Consumer Electronics Association's (CEA) paper. This news was published in news on 7Days.

With Dubai establishing itself in Middle East & Africa as a marketplace for electronics, a growing number of South Korean and Japanese firms have started to shift their operations in proximity of their markets. Sony, Citizen, Brother, Aiwa, Goldstar, and other electronic giants have already set up assembly services in Dubai to further boost their products' distribution to Middle East & Africa's markets.

Amongst the most remarkable developments in local market over the recent past remained the Dubai Shopping Festival's organization. The Festival - that's been a big success - is held each year and has definitely helped the consumer electronics business earn huge revenues.

Over the last 3 years, consumer electronic market in Europe has also shrunk by 25-30%. This is compelling European companies to seek new areas of growth in Middle East & Africa, as market for consumer electronics is booming in this region.

Middle East is the region with highest per-capita-income throughout the globe, and it will further increase owing to the tremendous growth that is being experienced by the regional economies. Industry experts anticipate a strong growth in disposable income of people in this region will also bring about an augmented in-flow in the consumer electronics market of this region.

According to a research analyst at RNCOS, "With the rising middle class will also bump up the demand for home appliances and electronics throughout the globe, particularly in nations that are geographically closer to the Gulf. And with the competition in consumer electronics & technology, MEA is heading towards the top of the consumer electronics & technology markets worldwide."

posted by RNCOS @ 3:51 PM,

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