Pakistan makes to top 10 tech growth markets globally

Global Market Research Agency, GfK, has released 2015 forecasts multi-billion changes for global consumer electronics market at country level. The report predicted that the overall market will remain at $1 trillion, but the top 10 emerging markets will dominate with an increase of over $10 billion alone. It means that emerging countries in the tech sector have shown considerable growth as compared to the mature market. The report covered 70 different digital device types including audio products and multimedia, headsets, mobile handsets, PCs, tablets, netbooks, cameras, camcorders, printing, TVs, video products etc.

India topped the chart as the emerging market which will lead tech sector in 2015 with projected market growth at $4.8 billion. The main factors for India in earning the first rank is probably due to high volume sales of smartphones along with reasonable prices. Pakistan achieved 4th place right after China and Nigeria with projected growth market of $0.6 billion.

It is important to know that this report came out before the announcement of Pakistan’s 2015-16 budget.Pakistan may lose its spot from the list after the government doubled the sales tax on the smartphones import. The new sales tax will increase the smartphone prices which, in turn, can affect the overall electronics market growth in Pakistan.

You will find more statistics at Statista