| CEA Raises Consumer Electronics Outlook |
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| Written by Mike Buetow | |||
| Friday, 25 July 2008 07:02 | |||
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ARLINGTON, VA – US shipments of consumer electronics will top $173 billion in 2008, according to new data from the Consumer Electronics Association. That’s up $2 billion from the trade group’s January estimates.
CEA now forecasts shipments will grow 7.3%, and another 6% next year, reaching more than $183 billion. The forecast is based on a consensus approach of polling nearly 90 manufacturers and other industry constituents across the CE chain. In a press release, president and CEO Gary Shapiro said, “In a tough economy, consumers turn to CE products for many reasons – from entertaining in the home to telecommuting to save gas. Such factors – and access to global consumers through free trade – help the CE industry to flourish while growth rates of other industries have either stalled or declined.” Leading the way in 2008 are digital displays, with shipment revenues approaching $28 billion, or 16% of all CE shipment revenues. With the switch to digital television occurring on February 17, 2009, unit sales for digital displays will accelerate, climbing 24% this year. “LCD TVs dominate the digital display market,” said Steve Koenig, CEA’s director of industry analysis. “With prices continuing to drop, consumers are deciding the time is right to upgrade to digital. By the end of the year, more than 60% of U.S. households will have at least one digital television.” Portable video game systems will also shine in 2008 as consumers continue to seek CE products they can use anywhere, anytime. Smartphones will see revenue growth of 51% this year, comprising 28% of total wireless handset shipments.
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