CEA: All-Time High for Consumer Electronics Revenue24 Jul, 2012 By: Chris Tribbey
Consumer electronics industry revenue in the United States is expected to pass the $200 billion mark in 2012, a first for the industry, according to the Consumer Electronics Association.
Overall industry revenue will grow nearly 6% year-over-year to $206 billion, thanks in part to better-than-expected tablet sales, according to the trade group. CEA is projecting 2013 industry revenue to grow 4.5% to $215.8 billion.
“The CE industry is offering what consumers want during these uncertain economic times: innovation and value,” said CEA president and CEO Gary Shapiro. “Consumers’ desire for connected devices is pushing projected revenues higher than originally anticipated, but the long-term health of our industry relies on a strong and growing U.S. economy.”
Tablet revenue is expected to hit $29.1 billion, nearly $11 billion more than CEA projected to start the year, an 83% year-over-year growth, representing unit sales of 68.5 million. Sales of Internet-connected HDTVs are expected to pass 10 million units, up 56% from 2012. 3DTV unit sales are projected at 5.6 million, a 104% increase.
“Tablets are the fastest-growing product category in the history of the CE industry, and sales will continue to increase as more products hit the market, offering consumers more choices in size, price, operating systems and app ecosystems,” said Steve Koenig, CEA’s director of industry analysis.