Arlington, VA—The consumer electronics industry is forecast to surpass initial revenue projections for 2010, with growth of 3 percent over 2009 and overall shipment revenues of $174.9 billion in the U.S., according to the Consumer Electronics Association’s (CEA) latest study.
The semiannual U.S. Consumer Electronics Sales and Forecast (July 2010) also predicts that industry shipment revenues will climb 4 percent to an all-time high of more than $182 billion by 2011.
“Innovation in the CE industry is driving consumer enthusiasm, orchestrating a turnaround for our industry and bolstering the overall U.S. economy,” said CEA president and CEO Gary Shapiro. “The response to innovative new products like tablet computers and 3D displays, and continued growth of other product categories, illustrate that consumers love technology. The freedom to innovate delights consumers, sustains our industry and strengthens the economy.”
The latest forecast increases CEA’s estimates for 2010 shipment revenues, last updated in January of this year, by more than $9 billion. According to the report, “the CE industry will see 3 percent growth in 2010, up from an earlier projection of .3 percent.” Much of the growth across the industry was attributed to a handful of product categories—3DTVs, smartphones, Blu-ray players, eReaders and mobile computing solutions, such as tablets.
“The January edition of the forecast was cautiously optimistic about the industry’s return to growth this year,” said Steve Koenig, CEA’s director of industry analysis. “Despite a relatively sluggish first half, these innovative product categories have generated a great deal of consumer interest. As a result, we see a stronger second half demand unfolding, and we anticipate a robust holiday quarter.”
U.S. Consumer Electronics Sales and Forecasts 2006-2011 is published twice a year, in January and July. It was designed and formulated by CEA, the producer of the International CES. The complete report is available free to CEA member companies at members.CE.org. Nonmembers may purchase the study at mycea.CE.org.