Dubai Chamber predicts 4.7 percent growth of Dubai consumer electronics market by 2020
The analysis, based on the UAE’s latest retail sales data provided by Euromonitor, shows that the portable consumer electronic subcategory should maintain its lead with a $1.27 billion sales forecast for 2020.
Another subcategory expected to retain its size in this forecast is the computers and peripherals market at $937 million. In-home consumer electronics should gain traction and reach $900 million. No growth is expected for the in-car entertainment subcategory.
The chamber’s report highlights continued growth that comes despite mounting pressure from low oil prices and rising global economic uncertainties. Members attribute the growth to a rising population and steady influx of tourists.
Analysis is based on an estimate of Dubai’s consumer electronics market size during 2015: $2.4 billion.