Consumer Electronics Market in Romania 2016-2020

Outlook of the Romanian consumer electronics market

Technavio’s market research analyst has estimated that the Romanian consumer electronics market will grow at an impressive CAGR of almost 13% by 2020. The rising demand for flat-screen TVs in this region will lead to the strong growth of the consumer electronics market in this region. In this region, the television sets segment accounted for more than 29% of the Romanian consumer electronics market in 2015. However, this region has witnessed a shift in consumer preference from CRT-based television to flat screen TVs including LED, plasma, LCD, 3D, and smart TVs over the past decade. As a result, the sales of flat screen TVs have been growing at a rate of more than 11% over the past couple of years. The high demand for TVs has resulted in a decline in prices due to economies of scale, which has, in turn, made them more accessible to the consumers.

This market study also anticipates the sudden rise in the demand for wearables to impel market growth during the forecast period. Wearables include smartwatches and bracelets that monitor the wearer’s physical activity. In 2015, the market for wearables was less than 50,000 units, and it is expected to grow at an annual rate of 15% till 2020. A critical factor contributing to this growth is the Romanian populace’s increase in health consciousness. For instance, Romanian IT&C manufacturer, Evolio, launched a smartwatch named x-Watch, which can be connected to users’ smartphones to make calls or text. It can also be used to monitor physical activity.

Competitive landscape and key vendors

This market is characterized by the presence of both local and international manufacturers who focus on maximizing sales rather than profit margins. Though international players dominate the market, the local manufacturers will provide fierce competition to international manufacturers by offering products at very low prices.

Key manufacturers in this market are -

• Alcatel-lucent
• Abn systems
• Avenir Telecom
• LG Electronics Romania
• Nokia Siemens Networks Romania
• Panasonic Marketing Europe Wiesbaden Germania-Sucursala
• Samsung Electronics Romania
• Televoice Group
• Italian Express
• Apel Laser
• Despec Romania
• M G T Educational
• Qube Net
• Retail Management Systems
• Royal Caro
• Electro Consult
• Gimex
• Hyundai Romania Hausgerate
• Rombiz Impex
• Visual Fan
• Altex Romania
• Flanco

Growth drivers, challenges, and key trends: Popularity of e-commerce

Upcoming trends like the high popularity of e-commerce are gaining traction in the market as it will help to boost online sales of products, which includes consumer electronics. In this region, online sales of consumer electronics will increase in the near future due to the availability of a wide array of online discounts and schemes. E-commerce platforms also provide the convenience of products being delivered at the customer’s doorsteps.

This report provides a number of factors contributing to the adoption, limitations, and opportunities of the consumer electronics market in Romania. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the consumer electronics market in Romania?
• What are the key market trends impacting the growth of the consumer electronics market in Romania?
• What are the challenges to market growth?
• Who are the key vendors in the consumer electronics market in Romania?
• What are the market opportunities and threats faced by the vendors in the consumer electronics market in Romania?
• Trending factors influencing the market shares of Romania.
• What are the key outcomes of the five forces analysis of the consumer electronics market in Romania?

Technavio also offers customization on reports based on specific client requirement.

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