The global forage feed market has been undergoing noteworthy development in the past few years. This can be accredited to the progression in farm animal production, upsurge in the global meat intake, and growing awareness regar…
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.