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January 09, 2013

Consumer Electronics Revenue to Rise Again


Consumer Electronics Association and chief executive officer Gary Shapiro (News - Alert) opened the 2013 International CES convention in Las Vegas, Nevada with his projection of the consumer electronic industry reaching $209.6 billion this year. This will be an increase of 3 percent over last year’s $204 billion, which showed a 5-percent increase from 2011 figures.

Shapiro said of the projection, “Innovation fuels our economy and allows us to further economic growth and create jobs. There is no better place to see innovation than at the International CES (News - Alert), and the products on display this week will propel the CE industry to record levels in 2013.” 

The stimulus for growth of the industry lies in the industry boom caused mobile electronics and people’s desire to stay connected to the world.

Some of the points made by Shapiro included: the tablet market will jump from 80 million units sold in 2012 to near 116 million in 2013, which will exceed the $31 mark made in 2012 to over $37 billion this year; smartphones will still be the driving force in the increased revenue for 2013 when it reaches its expected $37 billion this year, up from last year’s $31 billion; and lastly, the laptop contribution for 2013 is expected be near $17 billion. 

Consumer Electronics Association’s (News - Alert) director of industry analysis, Steve Koenig, agrees with Shapiro; “CEA’s forecast once again confirms that CE products play an increasingly indispensable role in consumers’ lives. Consumer adoption of smartphones and tablets continues to expand briskly, as mobile connected devices take center stage in today’s connected, digital lifestyle.”

Smartphones always tend to be the rave at CES, and 2013 will prove no different. Industry leader Samsung (News - Alert) will be having a press conference later today to address rumors of the release of the new Galaxy S IV, a larger version of the popular “phablet,” Galaxy Note, and a new model of television. 

There have also been rumors of a flexible smartphone that Samsung has been working on for several years being displayed.

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO Miami 2013, Jan 29- Feb. 1 in Miami, Florida.  Stay in touch with everything happening at ITEXPO (News - Alert). Follow us on Twitter.




Edited by Braden Becker
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