Consumer Electronics in Hungary
Euromonitor International's Consumer Electronics in Hungary report offers a comprehensive guide to the size and shape of the audio and video products market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market- be they new product developments, distribution or pricing issues. Forecasts illustrate how the market is set to change.
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Tables: 55 | Publication date: Apr 2007
Why buy this report
- Get insight into trends in market performance
- Pinpoint growth sectors and identify factors driving change
- Identify market and brand leaders and understand the competitive environment
Product coverage
In-car consumer electronics (aftermarket); In-home consumer electronics; Portable consumer electronics
Executive summary
Market growth to slow
During the review period, the consumer electronics market recorded impressive growth, but growth in demand was in decline towards the end of the period. This clearly indicates that in many sectors household penetration rates have significantly increased over the past few years and demand is becoming more mature. Besides, Hungarians have spent beyond their means over recent years and, due to the high level of consumer credit and a weaker performance of the economy, consumer confidence declined in 2006.
The start of the digital era
In the second half of the review period, demand in the consumer electronics market was driven by digital technology. Digital technology forcing analogue products out of the market was seen in many sectors during the second half of the review period, most notably in televisions, cameras and camcorders. This trend is expected to gain even more momentum in future years. Although digital products are more expensive than analogue, prices in the digital segment of the market are rapidly declining as the efficiency of production of these products is increasing. Besides, disposable income levels in Hungary are gradually increasing as well.
Rising disposable incomes boost consumer confidence
Disposable incomes of Hungarian households increased steadily over the review period. As consumers have had more income they have been able to increase their spending on recreational and leisure goods, such as consumer electronics. Hungarians love to spend time at home listening to music, reading but most importantly watching television and films. The fact that they can increase their spending on their leisure time activities strongly benefited sales of consumer electronics, particularly those that are primarily used at home.
Unchallenged dominance of international players
The Hungarian consumer electronics market is dominated by large international brands. The two market leaders are Sony and Samsung, followed by Nokia, Philips and Panasonic. All these players have diverse product coverage and enjoy strong brand image. National players are scarce. The only national company of note that produces electronics is Albacomp ZRt. The competitive landscape of the market is unlikely to change in the future as multinational players will inevitably retain their dominance. However, certain sectors are changing extremely fast, so no market player seems to be in a safe position and it is expected that electronics makers will have to continue to invest heavily in product innovation to be able to maintain their lead.
Demand to become more mature
The consumer electronics market in Hungary is forecast to register continued growth over the 2007-2011 period. This can be attributed to the fact that household penetration rates of various consumer electronics goods are still low and, as incomes are projected to continue to rise, it is expected that upgrades to better models will play an increasingly important role in the Hungarian market. Manufacturers and retailers are likely to stimulate market growth by strong product innovation and fierce price competition.
Table of contents
CONSUMER ELECTRONICS IN HUNGARY : MARKET INSIGHT
EXECUTIVE SUMMARY
Market growth to slow
The start of the digital era
Rising disposable incomes boost consumer confidence
Unchallenged dominance of international players
Demand to become more mature
KEY TRENDS AND DEVELOPMENTS
Continued growth of disposable incomes
Consumer credit on the increase
Consumers more careful with their spending
Strong competition to deflate prices
Online sales – still in their infancy
Digital technology taking over
Highly seasonal sales
Price above all
Quality and variety from specialists, bargains from grocery multiples
MARKET DATA
Table 1 Sales of Consumer Electronics by Sector: Volume 2001-2006
Table 2 Sales of Consumer Electronics by Sector: % Volume Breakdown 2001-2006
Table 3 Sales of Consumer Electronics by Sector: % Volume Growth 2001-2006
Table 4 Sales of Consumer Electronics by Sector: Value 2001-2006
Table 5 Sales of Consumer Electronics by Sector: % Value Breakdown 2001-2006
Table 6 Sales of Consumer Electronics by Sector: % Value Growth 2001-2006
Table 7 Consumer Electronics Company Shares 2002-2005
Table 8 Consumer Electronics Brand Shares 2002-2005
Table 9 Sales of Consumer Electronics by Distribution Format 2001-2006
Table 10 Forecast Sales of Consumer Electronics by Sector: Volume 2006-2011
Table 11 Forecast Sales of Consumer Electronics by Sector: % Volume Breakdown 2006-2011
Table 12 Forecast Sales of Consumer Electronics by Sector: % Volume Growth 2006-2011
Table 13 Forecast Sales of Consumer Electronics by Sector: Value 2006-2011
Table 14 Forecast Sales of Consumer Electronics by Sector: % Value Breakdown 2006-2011
Table 15 Forecast Sales of Consumer Electronics by Sector: % Value Growth 2006-2011
DEFINITIONS
LOCAL COMPANY PROFILES - HUNGARY
ALBACOMP ZRT - CONSUMER ELECTRONICS - HUNGARY
STRATEGIC DIRECTION
KEY FACTS
Summary 1 Albacomp ZRt: Key Facts
Summary 2 Albacomp ZRt: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
Summary 3 Albacomp ZRt: Production Statistics 2005
COMPETITIVE POSITIONING
Summary 4 Albacomp ZRt: Competitive Position 2005
CANON HUNGARIA KFT - CONSUMER ELECTRONICS - HUNGARY
STRATEGIC DIRECTION
KEY FACTS
Summary 5 Canon Hungária Kft: Key Facts
Summary 6 Canon Hungária Kft: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 7 Canon Hungária Kft: Competitive Position 2005
LG ELECTRONICS KFT - CONSUMER ELECTRONICS - HUNGARY
STRATEGIC DIRECTION
KEY FACTS
Summary 8 LG Electronics Magyar Kft: Key Facts
Summary 9 LG Electronics Magyar Kft: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 10 LG Electronics Magyar Kft: Competitive Position 2005
PHILIPS HUNGARIA KFT - CONSUMER ELECTRONICS - HUNGARY
STRATEGIC DIRECTION
KEY FACTS
Summary 11 Philips Magyarország Kft: Key Facts
Summary 12 Philips Magyarország Kft: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
Summary 13 Philips Magyarország Kft: Production Statistics 2005
COMPETITIVE POSITIONING
Summary 14 Philips Magyarország Kft: Competitive Position 2005
SAMSUNG ELECTRONICS MAGYAR RT - CONSUMER ELECTRONICS - HUNGARY
STRATEGIC DIRECTION
KEY FACTS
Summary 15 Samsung Electronics Magyar ZRt: Key Facts
Summary 16 Samsung Electronics Magyar ZRt: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
Summary 17 Samsung Electronics Magyar ZRt: Production Statistics 2005
COMPETITIVE POSITIONING
Summary 18 Samsung Electronics Magyar ZRt: Competitive Position 2005
IN-HOME CONSUMER ELECTRONICS IN HUNGARY
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 16 Sales of In-home Consumer Electronics by Sector: Volume 2001-2006
Table 17 Sales of In-home Consumer Electronics by Sector: % Volume Growth 2001-2006
Table 18 Sales of In-home Consumer Electronics by Sector: Value 2001-2006
Table 19 Sales of In-home Consumer Electronics by Sector: % Value Growth 2001-2006
Table 20 In-home Consumer Electronics Company Shares 2002-2005
Table 21 In-home Consumer Electronics Brand Shares 2002-2005
Table 22 Sales of In-home Consumer Electronics by Distribution Format 2001-2006
Table 23 Forecast Sales of In-home Consumer Electronics by Sector: Volume 2006-2011
Table 24 Forecast Sales of In-home Consumer Electronics by Sector: % Volume Growth 2006-2011
Table 25 Forecast Sales of In-home Consumer Electronics by Sector: Value 2006-2011
Table 26 Forecast Sales of In-home Consumer Electronics by Sector: % Value Growth 2006-2011
IN-CAR CONSUMER ELECTRONICS (AFTERMARKET) IN HUNGARY
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 27 Sales of In-car Consumer Electronics by Sector: Volume 2001-2006
Table 28 Sales of In-car Consumer Electronics by Sector: % Volume Growth 2001-2006
Table 29 Sales of In-car Consumer Electronics by Sector: Value 2001-2006
Table 30 Sales of In-car Consumer Electronics by Sector: % Value Growth 2001-2006
Table 31 In-car Consumer Electronics Company Shares 2002-2005
Table 32 In-car Consumer Electronics Brand Shares 2002-2005
Table 33 Sales of In-car Consumer Electronics by Distribution Format 2001-2006
Table 34 Forecast Sales of In-car Consumer Electronics by Sector: Volume 2006-2011
Table 35 Forecast Sales of In-car Consumer Electronics by Sector: % Volume Growth 2006-2011
Table 36 Forecast Sales of In-car Consumer Electronics by Sector: Value 2006-2011
Table 37 Forecast Sales of In-car Consumer Electronics by Sector: % Value Growth 2006-2011