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North America and Global CE (Consumer Electronic) Industry Boasts Big Expectations
The Consumer Electronics Show boasted the largest attendance it has had in its 30 year history. With the spike in attendance and interest in the consumer electronic industry comes a returned consumer confidence to spending and pent up demand that came through in 2010. Analysts expect that the spending freezes and pull backs of 2009 and early 2010 have created a large consumer demand while innovation is delivering more exciting products to encourage this consumer tech spending trend for 2011.
Panasonic consumer electronics President Shiro Kitajima saw their December 2010 sales up 30% ahead of least year. In fact, consumer electronics revenue growth is expected in all global regions with an industry growth rate of 11-15%. Global retail sales of tech products have clearly rebounded, with developed nations spending with new strength as well. CEA predicts the U.S. consumer electronics industry to grow 3.5% next year to $186 billion. "I believe innovation is our destiny," stated Gary Shapiro, president and CEO of CEA, "Innovation can and will restore the global economy." According to new data from CEA, consumer electronics sales worldwide will generate $964 billion in retail revenue in 2011.
Analyst were clear to mention that technology sales have become a buoy for the global economy with a continued and growing domination of the three screens: TV, PC, phones.
Key Consumer Electronics Trends to Watch:
1. Tablet Market Expansion
80 new tablets were quoted to have been launched or announced for launch into the market for 2011. 55 million hit the books in 2010 for tablet sales. We're seeing very little lift in product prices across the board as tablets and net books are in the consumer spending sweet spot of $400-600/unit.
2. Smart phone mass adoption
Smart phone volumes continued their climb in Q1 2010 as volumes reached 55.2 million. CE growth has fully rebounded at 67% year-on-year, according to Cellular News, and this is the highest growth rate seen since the end of 2007.
One impact mass adoption of smart phones will have on the consumer electronics market is that in some cases consumers in the developed countries are skipping entry level products. Instead, smart phones trump mobile phones and tablets replace laptop purchases.
3. 3D TV Growth and Consumer Video Cameras
TV prices were slashed by 20% in 2010 across the board. 3D technology is expected to become more affordable in mid-range TVs with higher quality visuals in the upper end models. Innovation seems to be inspiring consumers to spend.
Plasmas did well in 2010 but LED technology is out performing by far. The 3D and web connected TV categories are growing and are projected to grow over the next 3 years. 3D TVs are forecasted to be 32% of TV sales globally by 2014. 3D consumer video cameras are being released by Panasonic and Samsung this year with offerings starting around the $1000 price mark.
An important product note: Blueray has not been included in the top growth segments for 2011 as it has experienced a slower than anticipated adoption rate as the technology is not readily available around the world. However, for those in the entertainment space, North America is leading the way in this market and the anticipated growth for 3D TV is expected to help the Blueray market up the adoption curve.
FCC Announcement and Commitment Statement for Spectrum
Worried about connectivity dampening growth? So is the industry and the US government. We are seeing small business growth and innovation fueling this economy and our recovery. Investment around mobile broadband is powering small business commerce helping main street business expand their businesses online. Energy and health care are part of this technology innovation and economic growth as well. There is a 35x projection of demand for mobile bandwidth over the next 10 years.
From FCC chairman Julius Genachowski: “Mobile broadband is being adopted faster than any innovation. Ever. Our appetite is limitless but our spectrum is not. If we do not address our spectrum issue, we potentially risk driving down the mobile adoption and continued economic growth." Genachowski and CES/CEA president and CEO Gary Shapiro, are working hand in hand to help achieve the necessary result. The FCC has made it their number one objective at the FCC for 2011. In doing so they aim to remove barriers and unleash spectrum for: job creation, economic growth, and innovation leadership as well as massive investment in the industry.
Ever. Our appetite is limitless but our spectrum is not. If we do not address our spectrum issue, we potentially risk driving down the mobile adoption and continued economic growth." Genachowski and CES/CEA president and CEO Gary Shapiro, are working hand in hand to help achieve the necessary result. The FCC has made it their number one objective at the FCC for 2011. In doing so they aim to remove barriers and unleash spectrum for: job creation, economic growth, and innovation leadership as well as massive investment in the industry.
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