The technology retail market has been forecast to increase at a compound annual growth rate (CAGR) of 5.8% over the next five years, to reach a total market value of $1,210 billion by 2017.
The market, made up from electronics and household appliances, computer and software, and camera and photographic supply stores, experienced steady growth over the past five years and is expected to continue this growth momentum into the future.
Growth within the technology retail market is set to be driven by favourable demographics, rising consumer incomes, new shopping malls, and changing lifestyles.
Increases in the youth population, favourable economic policies, and sizable FDI are also expected to be drivers for the industry.
APAC continues to dominate the technology retail market and looks set to do so for at least the next five years. A rapidly growing middle class, market oriented stable economy, and availability of trained manpower at competitive rates in China, Japan, Malaysia, and Singapore are expected to fuel growth within the industry.
For more information on the technology retail market, see the latest research: Technology Retail Market Report
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