Indonesia to become fourth largest smartphone market in 2020

epa05432970 Indonesian students play Pokemon Go on their mobile phones at a park in Denpasar, Bali, Indonesia, 20 July 2016. Pokemon Go is a Global Positioning System (GPS) based augmented reality mobile game. According to reports on 20 July, Indonesian authorities banned armed forces and police personnel in the country to use Pokemon Go during service hours. EPA/MADE NAGI

SINGAPORE: Euromonitor International released new data on the global consumer electronics industry. 

According to the new data, global prospects for wearable electronics continue to be strong with retail value sales projected to grow by 138% to become a US$45bil (RM183.77bil) industry in 2021, remaining the world's second best-selling product behind smartphones. 

New products like smart wearables and wireless speakers and innovations like Ultra HD and convertible laptops resonate with the shift in consumer preferences. 

These products command higher retail selling prices, helping boost profit margins of manufacturers and retailers, says Euromonitor International consumer electronics head Wee Teck Loo. 

While wearable electronics demand is growing, Emerging markets like India and Indonesia provide plenty of untapped opportunity for smartphones due to the huge pool of feature phone upgrades. Indonesia is projected to overtake Brazil and Mexico as the fourth largest smartphone market reaching almost US$1bil (RM4.08bil) sales in 2020, adds Loo. 

The top-10 smartphone markets in 2021 are:
1. China
2. India
3. US
4. Indonesia
5. Brazil
6. Russia
7. Mexico
8. Japan
9. Philippines
10. United Kingdom 

Key consumer electronics trends through 2021:
Wireless speakers: Consumers paying for quality. Sales of wireless speakers are projected to reach 73 million units, a staggering 25% growth over 2017-2021.
Portable computers: Convertible is convenient. Convertible laptops and convertible tablets are gaining popularity due to their convenience. Unit prices of laptops are projected to stabilise at US$620 (RM2,532) over the forecast period, helped by the popularity of convertible laptops. Convertible tablets will account for 40% of sales in 2021.
LCD TVs: More is better. The push for Ultra HD is paying dividends for TV manufacturers, as consumers are easily sold on the pretext that more pixels and higher resolution equate to better video quality. — Bernama