CEA reports electronics industry revenue to reach all time high.
CEA President and CEO Gary Sharpiro revealed that revenues for the consumer electronics (CE) industry are projected to grow three percent in 2015 and to reach an all time high of USD 223.2 billion based on The U.S. Consumer Electronics Sales and Forecasts semi-annual industry report.
In the report, the revenue for emerging technologies such as 4k TVs, 3D Printers and wearables are expected to double, growing 108% year over year in 2015. While the emerging product categories represent less than five percent of the entire CE industry revenue forecast, they are expected to contribute almost $11 billion to overall CE revenue in 2015.
The wearable device revolution is a key category to watch in the coming years as CEA projects overall wearable unit sales will reach 30.9 million units (a 61 percent increase from last year) and generate $5.1 billion in revenue in 2015 (a 133 percent increase). CEA’s wearables category encompasses fitness activity bands and other health and fitness devices, as well as smartwatches and smart eyewear.
TV sales is also expected to improve as larger screen sizes and innovative display features have more consumers upgrading their video experience. CEA expects TV sales to remain critical as the industry’s third-largest contributor and estimates the total revenue of TV sets and displays sold projected to reach $18.3 billion in 2015, down two percent from 2014.
Other CE categories expected to enjoy positive growth in 2015 include audio, electronic gaming and laptops. Automotive electronics will see continued growth due to new vehicle sales in 2015, reaching $14 billion in revenue, a 3.3 percent increase.
“Our forecast underscores that consumers’ love affair with technology shows no signs of slowing any time soon,” says Shapiro. “Consumer technology is all about continued innovation. In the blink of an eye, consumer demand has taken off for emerging categories such as wearables, unmanned aerial vehicles and 4K Ultra HD – categories that were too small to track just three years ago. Expect to see these burgeoning categories, as well as innovations across the full spectrum of consumer technology, on display this week at the 2015 International CES.”
