UAE RESIDENTS SPEND EQUIVALENT OF 45% ANNUAL FOOD BILL ON CONSUMER TECHNOLOGY

World’s Most Influential Consumer Technology Companies Use GITEX TECHNOLOGY WEEK to Reach Growth Potential

A breakdown of the predictions published in a Q3 2011 report by Business Monitor International (BMI) shows that the UAE’s electronics device market is projected to hit US$ 3.4 billion by the end of this year. This is expected to increase to US$4.3bn by 2015, driven by the popularity of new electronic devices such as LED and 3G TV sets, 3G mobile handsets, smartphones, feature-rich notebooks, MP3/MP4 players, 3D technology and Blu-ray players.

To put this spending into proportion, BMI estimates that UAE residents will spend $7.71billion on food items this year, meaning that consumer technology sales will be the equivalent of 45% of the annual food spend.

The entire GCC consumer technology market is on the rise; Saudi Arabia’s consumer technology market is estimated to reach US$ 4 billion by the end of this year; Kuwait US$ 799 million; Oman US$ 521 million; Qatar US$ 481 million; and Bahrain US$ 452 million, according to the report. 

Despite many other global markets experiencing a slowdown in consumer technology spending, BMI research predicts a four percent year-on-year rise in market value to USD 9.8 billion by the end of 2011, across the Gulf Corporation Council (GCC).

Such positive predictions have led many of the world’s most influential consumer technology companies to sign up for this year’s GITEX TECHNOLOGY WEEK at the Dubai International Convention and Exhibition Centre, which they see as a key event to achieving their global sales targets for 2011 and for future growth.

Consumer technology companies participating in GITEX TECHNOLOGY WEEK from 9- 13 October 2011 include Ford, Genius, Moster, Promate Technologies, Sharp, Touchmate and many more, who will be exhibiting a range of the latest computers, mobile phones and tablets.

“Companies are increasingly looking at the Middle East to generate more revenue and GITEX, as the region’s largest technology exhibition, is playing a key role in helping multinationals secure market share,” said Trixee Loh, SVP, World Trade Centre, organiser of GITEX TECHNOLOGY WEEK.

 

“Leading manufacturers have clearly understood that it is essential to participate at GITEX if they are to reach their immediate and future revenue plans. GITEX remains the premier networking event for the ICT industry looking to either make inroads or consolidate their market share in the Middle East,” added Loh.

 

Visitors to this year’s event will see new products and technologies including launches from some of the world’s leading consumer electronics companies. Decision-makers and buyers will be able to use the event to improve the value proposition of their offerings, while enhancing the cost efficiency of their operations.

“Panasonic is a customer-centric brand and our products and solutions are designed to enhance the daily lives of our customers.  GITEX remains the ideal platform for companies to showcase and introduce new and innovative products to the Middle East market,” commented Anthony Peter, Director, Direct Communications and Customer Care Group, Panasonic Marketing Middle East.

“In line with Panasonic‘s commitment to becoming the No. 1 Green Innovation Company in the Electronics Industry by 2018 , we will launch the all-new Home Energy Management System (HEMS) for the Middle East and Africa region at GITEX. We want to demonstrate the efficient use of energy by promoting the widespread use of energy-saving devices and offering new solutions for energy creation, storage and management,” added Peter.

Another of the leading consumer technology exhibitors returning to GITEX TECHNOLOGY WEEK is Monster, which is now the worlds leading manufacturer of high performance cables that connect audio/video components for home, car and professional use as well as computers and computer games.

Jehangir Khan, Regional Manager, Monster said: “The Middle East consumer is among the most tech-savvy in the world and our high performance products are very popular. GITEX has been an important platform for us and for the region’s consumer technology industry as well as companies looking to launch and introduce new products. This year visitors can look forward to even more new products from Monster.”

Kamal Kumar GM Exports/Imports, Touchmate added: “The demand for consumer technology across the Middle East is very strong and still growing. Manufacturers have to compete on technology and price and GITEX is the perfect regional and global platform showcase the company.

“This year we will showcase the latest technology and products from Touchmate, introducing new products and re-enforcing our commitment to providing leading world class technology to the Middle East,” he said.

GITEX TECHNOLOGY WEEK 2011 takes place at the DWTC from 9 - 13 October. As one of the three largest ICT exhibitions in the world, the show connects more than 136,000 industry professionals from five continents with over 3,500 suppliers, and is one of the most influential and high-profile events in the global ICT sector today.