Electronics Revenues to Top $200 Billion in U.S. in 2012
Jul 25, 2012
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The consumer electronics (CE) industry will see stronger than anticipated growth in 2012, according to the semi-annual industry forecast from the Consumer Electronics Association (CEA). CEA estimates the overall CE industry will grow 5.9% in the U.S. in 2012, two points higher than the association's January projections.
The U.S. Consumer Electronics Sales and Forecasts (July 2012) projects industry sales to surpass $206 billion this year - the first time the annual industry revenues in the U.S. are expected to top $200 billion. Sales growth is expected to continue in 2013, when industry revenues are expected to grow 4.5% to reach $215.8 billion.
"Consumers' desire for connected devices is pushing projected revenues higher than originally anticipated, but the long-term health of our industry relies on a strong and growing U.S. economy," said CEA President and CEO Gary Shapiro.
Sales of mobile connected devices, led by tablets, have pushed overall industry revenues to record highs:
* Tablets are expected to reach $29.1 billion in shipment revenues this year, $10.8 billion more than was forecast in January, representing 83% sales growth year-over-year. Unit sales are expected to reach 68.5 million.
* Smartphone sales will see continued growth in 2012 and remain the primary revenue driver for the industry. Shipment revenues for smartphones are expected to reach $33.7 billion in 2012. More than 108 million units will ship to dealers, up 24% from 2011.
* Laptop sales also continue to increase, driven by consumers demand for mobility. Led by the expansion of the Ultrabook category, laptop sales to dealers are expected to reach $14.9 billion, with 21.3 million units shipped.
"Tablets are the fastest-growing product category in the history of the CE industry, and sales will continue to increase as more products hit the market, offering consumers more choices in size, price, operating systems and app ecosystems," said Steve Koenig, CEA's director of industry analysis. "With U.S. household penetration of smartphones surpassing the 50% threshold, we're seeing slowing sales of dedicated devices, as consumers seek singular devices that can perform multiple functions. We expect this trend to continue into 2013."
Sales of innovative digital displays continue to increase despite continuing decline in overall TV sales.
* Unit sales of networked-enabled TVs are projected to grow 56% in 2012, to surpass 10 million units. Shipment revenues will reach $9 billion, up 20% year-over year.
* Sales of 3D displays are growing and are expected to reach 5.6 million, up 104% year-over-year, in 2012. Shipment revenues are expected to be up 75% to more than $7 billion.
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