With the start of the new year, market analysts began to speculate on how the industry would behave in 2011, and it seems that CEA has high hopes for the consumer electronics market.
Apparently, the Consumer Electronics Association (CEA) thinks that the CE industry will reach a new peak in 2011, at least as far as revenues go.
Tablets, e-readers and smartphones are expected to keep growing, which personal computers acted as the primary revenue driver in 2010.
Apparently, the year 2010 proving stronger than originally anticipated in terms of CE revenues, leading to a 6% overall growth and a total of $180 billion.
Now, for 2011, the sum is expected to jump to $186.4 billion, corresponding to an increase of more than 3% and implying a new industry high.
“Innovation has become the engine for our global economy and it is so important that CES, the CE industry, our customers and our colleagues around the world embrace innovation as the central element of our shared future,” said Gary Shapiro, chief exec and president of CEA.
“Innovation can and will restore the economy and the consumer electronics industry will lead the way."
“The CE industry rebounded and consumers rallied in 2010, embracing innovative new technologies while maintaining a collective enthusiasm for familiar products that have become increasingly affordable,” said Steve Koenig, CEA’s director of industry analysis.
“The big story in CE in 2010 was the sudden infiltration of tablets into the mainstream, which will continue well into the New Year. In 2011, the industry foresees additional sales growth allowing CE revenues to achieve a new sales summit," he added.
“Intense price competition continues to provide consumers with great deals on displays but are cutting into industry revenues. The resurgence of home audio is a signal that consumers are spending money and beginning to focus on a complete in-home high-definition experience," Mr. Koenig concluded.
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