The consumer electronics (CE) industry will grow more than expected in 2011, according to the semi-annual industry forecast released in July by the Consumer Electronics Association (CEA). CEA now expects the industry to surpass $190 billion in overall shipment revenues in 2011, for a growth rate of 5.6%, higher than the 3.5% growth that CEA projected in January.
The forecast of 2011 shipment revenue growth of 5.6% assumes a U.S. GDP growth rate of 2.4%. Industry shipment revenues are expected to surpass $190 billion this year, or about $4 billion more than CEA forecast in January 2011.
The July 2011 report also projects industry shipments will grow in 2012 to an all-time high of $197 billion.
CEA projected that:
• tablet computers will grow 157%
• Smartphone sales will see major growth in 2011 – up 45% - and continue to be the primary revenue driver for the industry
eReader unit sales will double in 2011
“One year ago, tablets were a new and unproven market, and now they, along with other mobile connected devices including smartphones and eReaders, are leading the entire industry to positive growth,” said Steve Koenig, CEA’s director of industry analysis. “The revenue boost from these innovative products is undeniable as a number of other CE segments are reaching maturity and sales are naturally declining.”
Digital TV saturation of 88% means digital display shipments will be down in 2011, but growth is projected to be up in network-enabled displays and the growth rate of 3D TVs was revised upward for 2011. Audio soundbars are a growth leader, expected to be up 250% in 2011 over 2010. Digital cameras are expected to show unit growth of 3% in 2011.
to Daily News