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The consumption of consumer electronic products is intimately tied to the economic health of the geographic region. Nevertheless, technological improvements in consumer electronics products will continue to spur consumer purchases.
The consumer electronics industry has witnessed a phenomenal growth over the past few years. This growth can be attributed to the increasing effect of state of the art electronic devices on the market. The consumer electronics industry is ushering in the dawn of Convergence. It is the confluence and merging of hitherto separated markets of digital-based audio, video and information technology, removing entry barriers across the market and industry boundaries. This convergence of technologies has resulted in a greater demand for consumer devices, be they portable, in-home (mobile phones, digital camera) or in-car (CD/DVD players), offering multiple functions.
The revolution brought about by Digital technology has enabled the consumer electronics sector to profit from the growing interaction of digital applications such as: camcorders, DVD player/recorder, still camera, computer monitor, LCD TV etc. It has also witnessed the emergence of mobile telecommunications technology, incorporating both digital visual and digital MP3 capabilities. The computer industry has also benefited by being able to make its way into consumer's living rooms. HDTVfs with VGA connections and SD/MMC card slots, personal media players, and Microsoft-based Media Center PCs have pushed the two industries even closer together than before.
The overall revenue earned through the sale of audio, video and gaming consoles constitutes the international consumer electronics market. The global sale of consumer electronics is estimated to exceed all expectations to touch an all time high of $135.4 billion in 2006, which indicates 8% increase from 2005. By the year 2008, sales are forecasted to soar up to $158.4 billion, up BY 65% over 2000.
Future growth of the industry will depend on innovations and new product introductions, which are a direct result in advancements in microprocessors and memory devices.
This report describes the worldwide consumption of consumer electronic products, describing the trends in product capability and sophistication. Markets are forecast with the consumer products categorized as:
- Video Equipment
- Audio Equipment
- Computer Products
- Telephone Equipment
- Personal Products
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