Nigeria Among Top 10 Smartphone and Tech Devices Markets for Growth in 2015 in the World
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Tech Devices in 2015: Emerging Markets Dominate Growth, Increasing by $10b
Global market research agency, GfK, has released part of its 2015 forecasts for sales of technology devices, showing that the stable global forecast hides multi-billion dollar changes at country level.
GfK's technology device forecasts cover 70 different digital device types globally and indicate that the overall market in 2015 will remain at one trillion USD, just as it has been since 2011. However, the 10 largest growth markets will increase by over $10b alone and be dominated by emerging markets. India provides by far the greatest opportunity, primarily driven by sales of smartphones, where both volume and pricing will contribute to an overall technology device growth of nearly five billion US dollars in 2015.
10 largest tech device growth markets in 2015 (GfK forecast figures)
2014 (USD $b) 2015 (USD $b) Percentage YOY Growth(USD $b)
India 30.0 34.8 16% 4.8
China 199.0 200.8 1% 1.8
Nigeria 5.1 5.7 13% 0.7
Pakistan 4.2 4.8 15% 0.6
Vietnam 5.5 6.1 11% 0.6
Bangladesh 3.3 3.8 13% 0.4
Brazil 39.0 39.3 1% 0.4
Egypt 4.6 5.0 8% 0.3
Indonesia 12.4 12.7 3% 0.3
Philippines 3.8 4.1 6% 0.2
TOTAL 306.9 317.1 3% 10.1
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Feature phone markets
As expected, the global feature phone market continues to decline rapidly, with GfK's forecasts showing sales by volume dropping 20 percent and sales by value dropping 30 percent. However, feature phone vendors in emerging APAC countries and the Middle East & Africa can be slightly happier, with forecasted markets size of 5.1 billion USD and 4.3 billion USD respectively.
Kevin Walsh, Forecasting Director at GfK, comments, "The size of the feature phone market in emerging APAC countries, the middle east and Africa also provides opportunities for the low end smartphone makers, as we are seeing clear evidence of consumers willing to accept a price jump, when they upgrade from a feature phone to their first smart phone."
Smartphone markets
GfK's forecasts show that, worldwide, the smartphone continues to grow strongly, in terms of volume of sales, increasing by 18% for 2015. But there is significant shift in which countries will see those growth opportunities, with the emerging markets dominating.
Walsh explains, "Our forecasts show seven new entries in the top 10 smartphone markets for 2015, in terms of growth by value - and these are all emerging markets, which have overtaken developed markets where smartphone saturation is nearing completion."
Top 10 smartphone markets for growth by value, 2015 compared with 2014(GfK
forecast)
Ranking 2014 2015
1 China India
2 United States China
3 Japan Indonesia
4 Brazil South Africa
5 United Kingdom Brazil
6 Germany Pakistan
7 India Nigeria
8 South Korea Egypt
9 Russia Vietnam
10 Italy Bangladesh
These are just a small part of the forecast data provided by GfK Target Setter 2015, which is available for purchase now. For more details, please contact Kevin Walsh, Forecasting Director at GfK, on tel: +44-20-7890-9380 or email: Kevin.Walsh@gfk.com
About GfK Target Setter
GfK Target Setter is available as a one-off purchase and includes 2015 sales forecasts for all the major technology product categories (audio products and multimedia, headsets, mobile handsets, PCs, tablets, netbooks, cameras, camcorders, printing, TVs, video products). It presents GfK's forecasts for what units will sell in what numbers, at what price, by region. It also allows clients to drill down to country forecasts by month and to see the sales impact of setting regional market share targets.
For more information, please visit http://www.gfk.com or follow GfK on Twitter: https://twitter.com/GfK_en
CONTACT:
Kevin Walsh
Forecasting Director, GfK
+44-20-7890-9380
Kevin.Walsh@gfk.com
SOURCE GfK
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