Strong Global Consumer Electronics Growth Forecast Jun 15, 2010

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The global consumer electronics industry had revenue of about US$694 billion in 2008 and is staged for growth of around 5% CAGR during 2010-2013 according to industry research firm RNCOS. Growth can be attributed in part to the industry's rapid technological developments, enabling the industry to profit from the growing interaction of digital devices.

The report Global Consumer Electronics Market Forecast to 2013 predicts that 3D TV will experience the highest CAGR, of around 118%, during the 2010-2013 period as manufacturers implement 3D as a standard feature in HD flat-panel TVs.

The research firm found that the American region, and the United States in particular, drives the global consumer electronics industry, with the EU close behind. However, this growth pattern is expected to change as demand from developing nations rises and the Asia Pacific region emerges as a major influencer. India, for one, is expected to grow at a CAGR of about 19% in 2010-2013.

The firm said that consumer electronics' continually developing digital technologies, and especially the increase in connectivity and mobility, will be a vital factor in further accelerating industry growth.

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