Dubai Chamber predicts 4.7 percent growth of Dubai consumer electronics market by 2020

The Dubai Chamber of Commerce and Industry recently released a report during its participation in GITEX Technology Week 2016 that predicts a 4.7 percent growth over the next four years for the Dubai consumer electronics market -- a $3 billion level of growth.
 
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.