Consumer Electronics Industry Expected to Grow 5% Annually Through 2013
The global consumer electronics industry is set to witness phenomenal growth in the near future after the moderation of tough economic conditions. The digital technology revolution has enabled the industry to earn profit from the growing interaction of digital applications, such as camcorders, DVD player/recorder, digital camera, etc. The biggest bright spot for the consumer electronics industry during 2009 was the good performance of LCD-TV segment. With these technological advancements, the global consumer electronics industry generated revenue of around US$681 Billion in 2009.
According to our new research report "Global Consumer Electronics Market Forecast to 2013," the global consumer electronics industry will grow at a CAGR of around 5% during 2010-2013. During this time period, we expect that 3D TV will experience the highest CAGR of around 118% because manufacturers will begin to implement 3D as a standard feature in their HD flat-panel product lines.
We have also found that the American region (mainly the US) is driving the global consumer electronics industry, closely followed by the EU. According to the report, two-thirds of the U.S. households own a high-definition television in 2010, up 13% against the previous year with LCD TV leading the digital display market. According to the research, dominant presence of players like Samsung, LG, and Sony etc. in developed economies provides them economies of scale while expanding into emerging markets.
Moreover, India and China have very low penetration of digital TV, which is expected to cross 50% penetration rate by 2015. Furthermore, number of digital TV penetration is expected to grow rapidly with Asia Pacific and Europe capturing the maximum number of DTV homes. It is also expected that HDTV will witness significant growth during the coming years with North America currently leading the global HDTV homes.