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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.
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 -
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.
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This is preliminary content. The table of contents is subject to change.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
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