The consumer technology market in the GCC region will post a four per cent year-on-year rise in market value to hit $9.8 billion by the end of 2011, said a new report.

The Business Monitor International (BMI) in its Q3 2011 report said with regrd to the UAE, its electronics device market is poised to reach $3.4 billion by the end of this year.

This is expected to increase to $4.3 billion 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, the report added.

As per BMI estimates, UAE residents will spend $7.71 billion on food items this year, meaning that consumer technology sales will be the equivalent of 45 per cent of the annual food spend.

According to the report, the entire GCC consumer technology market is on the rise.

'Saudi Arabia’s consumer technology market is estimated to hit $4 billion by year end followed by Kuwait with $799 million, Oman with $521 million, Qatar with $481 million and Bahrain with $452 million, according to the report.

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 which runs from October 9 to 13 in Dubai.

Consumer technology companies participating in Gitex include Ford, Genius, Moster, Promate Technologies, Sharp, Touchmate and many others 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, Dubai World Trade Centre, Gitex organisers.

'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,' he added.

According to him, visitors will see new products and technologies including launches from some of the world’s leading consumer electronics companies this year.

“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,” remarked Anthony Peter, director, Direct Communications and Customer Care Group, Panasonic Marketing ME.

Jehangir Khan, regional manager, Monster said, '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,' he added.

Kamal Kumar GM Exports/Imports, Touchmate pointed out that the demand for consumer technology across the Middle East was 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,' he remarked.

“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 added.-TradeArabia News Service