|[January 07, 2014]
CE Industry Revenues to Reach Record High of $208 Billion in 2014, According to CEA Sales and Forecast Report
ARLINGTON, Va. --(Business Wire)--
Revenues for the consumer electronics (CE) industry are projected to
grow 2.4 percent in 2014, reaching a new record high of $208 billion,
according to The U.S. Consumer Electronics Sales and Forecasts,
the semi-annual industry report released today by the Consumer
Electronics Association (CEA)®. The forecast was announced by
CEA President and CEO Gary Shapiro (News - Alert) in his opening remarks today at the
2014 International CES®, the world's gathering place for all
who thrive on the business of consumer technologies, running January
7-10, in Las Vegas, Nevada.
The forecast projects that new, emerging product categories will grow by
107 percent year-over-year in 2014. These new technology categories,
including 3D printers, Bluetooth wireless speakers, convertible PCs,
health and fitness devices, smart watches and Ultra HD television
displays, are cumulatively expected to contribute more than $6 billion
to the overall CE industry in 2014. While these emerging product
categories represent less than three percent of the entire CE industry,
they drive 65 percent of total industry revenue growth.
"We are at the forefront of a momentous wave of innovation," said
Shapiro. "The incredible growth that emerging product categories such as
Ultra HDTV, wearable electronics and 3D printers will experience this
year underscores the significant role new technologies play in the total
consumer electronics story. These innovations will take center stage at
the 2014 CES (News - Alert) this week, and despite a recovering economy, the products
on display will push the CE industry to reach new revenue levels in
Sales of mobile connected devices, specifically smartphones and tablets,
will continue to contribute significant unit sales and revenue to the
total CE bottom line in 2014. Although revenue growth has slowed, unit
sales will continue to see steady increases.
Smartphones are expected to maintain their position as the sales
leader of the industry in 2014, with unit shipments projected to reach
152 million this year, up from 138 million units sold in 2013.
Additionally, smartphone revenues are expected to generate $41 billion
in 2014, a 4.6 percent increase from $39 billion in 2013.
Unit sales of tablets are projected to reach 89.3 million this year,
up from 77.4 million in 2013. Revenues for tablets will reach $27.3
billion this year, up by three percent.
"In a short amount of time, mobile connected devices have become
ingrained and indispensable in consumer's lives," said Steve Koenig,
CEA's director of industry analysis. "The market for these products, now
found in millions of households, is exceptionally competitive, naturally
resulting in slowed revenue growth. Yet we find ourselves at n
interesting inflection point in technology, as these same products are
creating opportunities and growth across several other categories in the
Bright spots within the television category will help drive revenue
growth this year, as larger screen sizes and innovative display features
have consumers upgrading their video experience. Although, total unit
sales of displays are predicted to remain even with 2013 levels, total
TV sets and display sales are projected to reach $21.3 billion in 2014,
up two percent from 2013's better than expected revenue level of $21
LCD flat-panels continue to dominate the total number of sets sold
each year. Both unit sales and revenues for LCD displays are projected
to increase slightly, with 39 million LCD TVs expected to ship to
dealers in 2014, resulting in $19 billion in revenue.
Innovative features such as Ultra HD and OLED within the display
category are beginning to gain awareness. Unit shipments of Ultra HD
displays are expected to surpass $1 billion for the first time this
year, while OLED displays will reach $836 million.
Elsewhere in the industry, a number of other categories are expected to
see positive growth in 2014, including:
Audio: Soundbars, headphones and Bluetooth wireless speakers remain
the standout products of this category. Soundbar shipments are
projected to increase 22 percent to 3.5 million units and reach $676
million in revenue. Headphones are expected to sell 71 million units,
earning $1.5 billion in revenue; while Bluetooth wireless speakers are
expected to generate $430 million in total revenue in 2014, an
increase of 12 percent year-over-year.
Automotive electronics: The growth of new vehicle sales in 2014 will
drive factory-installed systems to reach $11 billion in revenues, an
increase of 20 percent.
Electronic gaming: The release of next generation gaming consoles are
projected to propel unit shipment growth, up 42 percent
year-over-year, to reach revenues of $5.7 billion in 2014.
The U.S. Consumer Electronics Sales and Forecast 2009-2014 (January
2014) is published twice a year, in January and July, reporting U.S.
factory sales-to-dealers. It was designed and formulated by CEA, the
most comprehensive source of sales data, forecasts, consumer research
and historical trends for the consumer electronics industry. Please cite
any information to the Consumer Electronics Association (News - Alert) (CEA)®.
The complete report is available for free to CEA member companies at members.CE.org.
Non-members may purchase the study for $2,000 at the CEA
The Consumer Electronics Association (CEA) is the technology trade
association representing the $208 billion U.S. consumer electronics
industry. More than 2,000 companies enjoy the benefits of CEA
membership, including legislative advocacy, market research, technical
training and education, industry promotion, standards development and
the fostering of business and strategic relationships. CEA also owns and
produces the International CES - The Global Stage for Innovation. All
profits from CES are reinvested into CEA's industry services. Find CEA
online at www.CE.org,
and through social
2014 International CES
January 7-10, 2014, Las Vegas, NV
CEA Winter Break
March 18-21, 2014, Vail, CO
Digital Patriots Dinner
April 29, 2014, Washington, DC
CES on the Hill
April 30, 2014, Washington, DC
2014 Technology & Standards Spring Forum
2014, Seattle, WA
June 23-27, 2014, New York, NY
CE Week Line Shows
June 25-26, 2014, New York, NY
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