MANILA – The Philippines will be one of the 10 biggest markets for technology devices in 2015, according to global market research firm GfK.
According to GfK, the country expects to sell about $4.1 billion worth of products by next year given that there will be more opportunities for emerging markets.
GfK forecasting director Kevin Walsh said that the estimated worth covers about 70 digital devices. This include personal computers, TVs, cameras, and of course mobile phones.
In the Philippines, sales of technology devices are expected to increase by 6 percent next year from $3.8 billion this 2014.
Aside from the Philippines, other emerging markets when it comes to digital device growth include Bangladesh, Brazil, China, Egypt, India, Indonesia, Nigeria, Pakistan and Vietnam.
China tops the list with $199 billion market this year. However, their market only grew by one percent from $200.8 in 2015.
On the other hand, India is expected to pose the highest growth by 16 percent. Pakistan and Bangladesh will follow after with 15 percent and 13 percent, respectively.
“India provides by far the greatest opportunity, primarily driven by sales of smartphones, where both volume and pricing will contribute to an overall technology device growth of nearly $5 billion in 2015,” GfK noted.
GfK added, “[F]eature phone vendors in emerging APAC [Asia-Pacific] countries and the Middle East and Africa can be slightly happier, with a forecasted market size of $5.1 billion and $4.3 billion, respectively,” GfK said.
Many consumers will still continue to patronize expensive smartphones, with its market size increasing by 18 percent in 2015 in terms of volume.
The top 10 smartphone markets for growth by value according to GfK next year, include: India, China, Indonesia, South Africa, Brazil, Pakistan, Nigeria, Egypt, Vietnam and Bangladesh.