Increase in Electro-IT sales by 10% year-on-year recorded in Romania during 2024
In 2024, Romania's electro-IT market experienced significant growth, with sales of electronics, home appliances, IT, and telecom products increasing by approximately 10% compared to the previous year. This expansion, according to reports from Ziarul Financiar and NielsenIQ, is driven by increasing consumer demand for electronic devices and technological advancements in electronics.
The growth of the electro-IT sector in Romania is not limited to inflation-related factors. Climate conditions, such as a hot summer, can significantly impact sales in the electro-IT market, as evidenced by double-digit increases in air conditioner sales and ice cream sales during the hot summer that started in March. However, the report did not specify the exact growth rate of the electro-IT market due to the influence of these climate conditions and regulatory changes.
Regulatory changes are another factor influencing consumer behavior in the electro-IT market in Romania. While the report did not provide details on the impact of these changes on the growth of the electro-IT market, insights can be inferred from related reports and market trends. For instance, Romania's economic growth forecast remains positive, indicating sustained consumer and industrial market demand to back technology markets.
The electro-IT market in Romania showed steady growth across all segments. Home comfort products, including air conditioners and heaters, saw the strongest growth, with sales surging by 55%. FMCG (Fast-Moving Consumer Goods) sales in Romania also increased by 8%. In contrast, the photo equipment segment recorded a modest increase of just 2.2%.
The report did not provide details on the impact of regulatory changes on the growth of the electro-IT market in Romania. However, it is known that investments in infrastructure and a push towards advanced technologies like power electronics and electro-optical systems support market expansion. The growth of demand for energy-efficient and advanced electronic components, such as those in power electronics (inverters, converters), supports expansion, especially due to the automotive and renewable energy sectors.
Additionally, military contracts for electro-optical infrared systems, including upgrades to Romanian defense equipment, contribute to the growth of specialized segments. Rising consumer electronics purchases typically correlate with growing retail revenues and consumer confidence, supported by NielsenIQ data on purchasing drivers.
The electro-IT market in Romania is expanding by approximately EUR 5 billion (RON 25 billion) annually, according to the latest estimates of Ziarul Financiar. This growth is a testament to the country's commitment to technological advancement and digital adoption. After almost two years of volume contraction, there was a return to growth in quantitative consumption in both the FMCG and electro-IT industries in Romania. This overall market expansion is attributed to easing inflation, which supported higher consumer spending after nearly two years of contraction.
In conclusion, the growth of Romania's electro-IT market in 2024 is primarily driven by rising consumer electronics demand, technological advancements in power and optical electronics, and specific government/military investments enhancing the sector's scale and capabilities. These factors, coupled with the country's commitment to technological advancement and digital adoption, bode well for the continued growth of the electro-IT market in Romania.
The increase in sales of electronics and home appliances, as well as the growth in sales of air conditioners and heaters, suggest a consumer demand for electronic devices and technological advancements in Romania. This growth also reflects the country's commitment to technological advancement and digital adoption, with the electro-IT market expanding by approximately EUR 5 billion annually. Furthermore, the expansion of the electro-IT market is supported by investments in infrastructure and a push towards advanced technologies like power electronics and electro-optical systems, and the growth of demand for energy-efficient and advanced electronic components.
