The global biomedical refrigerators and freezers market is slated to magnify at a strong CAGR of 4.2% over the period amid 2016 and 2024. The market, which was worth $2.91 billion in 2015, is predicted to upswing to $4.28 billion by 2024…
BMI View: Argentina's consumer electronics market performance has been driven by economic factors in
recent years, as devaluations in 2014 and late 2015 hit affordability. As a result there is pent-up demand
that we expect to be unlocked as the economy improves from 2017, and will enable much stronger
performance over the medium term. We forecast a CAGR of 10.0% over 2016-2020, with all three segments
set to be boosted by peso appreciation and higher consumer confidence. The stronger peso in a more liberal
economic regime could however put a squeeze on domestic electronics manufacturers, but with a reliance
on imported components they should be able to remain competitive as their cost profile improves.
Latest Updates & Industry Developments
? Computer Hardware Sales: USD1.6bn in 2016 to USD2.3bn in 2020, corresponding to a compound
annual growth rate (CAGR) of 10.6%. Pent-up demand after disruption over 2014-2016 means there is
potential for strong growth over the medium term, but downside should smartphones cannibalise retail
PC sales to a greater extent than we currently envisage.
? AV Sales: USD1.6bn in 2016 to USD2.3bn in 2020, a CAGR of 8.4%. Support from peso appreciation in
addition to an improvement in TV-set market dynamics will enable AV demand to recover, but even by
2020 it will still remain below the 2012 peak at the height of flat-panel TV-set upgrades.
? Handset Sales: USD2.2bn in 2016 to USD3.3bn in 2020, a CAGR of 10.7%. Smartphone penetration is
low compared to income levels and so upgrade opportunities still exist in Argentina that should be
unlocked and will drive strong growth as the economy improves.