(MENAFN- The Peninsula)
Joel Johnson
|
The Peninsula
Doha, Qatar: The consumer Electronics market in Qatar is expected to witness soaring demand in the coming year as per market researchers. Statista's latest data indicates that the sector in 2025 is poised to exhibit a volume growth of 0.5 percent.
The study revealed that the market volume is projected to reach 4,467.0k pieces by 2029, while the average volume per person in the consumer electronics industry is anticipated to be 1.4 pieces by 2024-end.
This year, the revenue for consumer electronics in Qatar amounts to $736.1m. Statista notes that it is projected for a compound annual growth rate of 1.06 percent until 2029.
In terms of per-person revenues, in 2024, an average of $239.30 is generated in Qatar.
Analysts state that the largest segment in this market is 'Telephony', with a market volume of $334.2m in 2024. Additionally, this year, Qatar's online sales are expected to contribute 42.3 percent of the total revenue in the market.
The report said:“Qatar's consumer electronics market is booming, driven by high disposable incomes and a strong demand for premium brands.”
In the global market data, Statista notes that China generates the highest revenue, amounting to $198.5bn in 2024. Reports mention that the Consumer Electronics market generated a revenue of a staggering $950bn in the current year.
It is also projected that the consumer electronics market globally will experience an annual growth rate of 2.90 percent from 2024 to 2029.
The largest segment within the Consumer Electronics market globally is again 'Telephony, with a market volume of $486.7bn in 2024.
According to per capita figures in the current year, each person contributes approximately $122.60 to the total revenue in the Consumer Electronics market.
Market experts forecast that by 2024, online sales will account for 33.5 percent of the total revenue in this market.
The data shows that on average, each person is expected to contribute a volume of 1.1 pieces to the consumer electronics market in 2024.
By 2029, the volume of the Consumer Electronics market will reach 9,007.0m pieces. Furthermore, a volume growth of 1.6 percent in the consumer electronics market worldwide is anticipated in 2025, the report added.
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