The consumer electronics (CE) industry will have stronger
than anticipated growth in 2011, according to the semi-annual industry forecast
released by the Consumer Electronics Association (CEA).
The industry is estimated to surpass $190 billion in
overall shipment revenues this year, a growth rate of 5.6 percent, which is
higher than the previous projection from January. The U.S. Consumer
Electronics Sales and Forecast (July 2011) also projects industry shipments
will grow in 2012, reaching an all-time high of $197 billion.
Innovation continues to drive the electronics industry
to record levels, even in the face of declining economic growth overall. Newer,
innovative product categories, like tablets, not only meet consumer demand but
also help bolster our industry and strengthen the overall American economy,”
said president and CEO Gary Shapiro, CEA.
The forecast estimates 2011 shipment revenues of 5.6
percent, up from a forecast of 3.5 percent in January and assumes a U.S. GDP
growth rate of 2.4 percent. Industry shipment revenues will surpass $190
billion this year, about $4 billion more than anticipated in January. Growth is
projected to continue into 2012, reaching $197 billion in shipment revenues, an
CEA expects the surging sales of mobile connected devices to be
significant enough to push the overall industry higher than previously
computers are projected to grow 157 percent in 2011, with more than 26.5
million units being shipped to dealers and resulting in $14 billion in shipment
Smartphone sales will also see major growth this year and
will continue to be the primary revenue driver for the industry. Smartphone
unit sales will climb an estimated 45 percent and reach more than $23 billion
in industry revenue.
eReader unit sales will double this year, with more than
16.5 million units being shipped, resulting in $1.8 billion in revenue.
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, director of industry analysis, CEA.
The revenue boost from these innovative products is
undeniable as a number of other CE segments are reaching maturity and sales are
naturally declining,” Koenig added.
CEA estimates 88 percent of U.S. households own at least
one digital television. Given this high penetration rate, sales of digital
displays are expected to fall this year. However, this category remains an
important contributor to the industry’s bottom line with 2011 revenues topping
Network-enabled displays, however, are a growth segment,
with an estimated 10.4 million network-enabled displays shipping to dealers this
year. 3D displays will also see better-than-projected growth as 3D becomes a
standard feature in displays and is incorporated into more sets across product
lines. An estimated 3.6 million 3DTVs will ship in 2011, up from a projected
1.9 million units in January.
Despite slower display sales, consumers are continuing to
upgrade their in-home theater experience, and audio sales are rebounding this
year. Soundbars are leading the way with 2.4 million units expected to ship in
2011, an increase of 250 percent from last year.
In-vehicle technology is also poised for a strong year,
as technology in new vehicles is resulting in double-digit growth.
As consumers seek to integrate existing devices and
content into their vehicle, such as Internet radio, automotive entertainment
technology revenues are up more than five percent. Digital cameras will also
have a healthy year with unit shipments growing three percent.
By Telecomlead.com Team