Consumer Electronics
Consumer Electronics Sales Going to All-Time Highs in 2014 and 2015
Published:
The Consumer Electronics Association (CEA) is now looking for 2014 to be an all-time record high for global consumer electronics. Its semi-annual sales forecasts signaling that consumer electronics revenues will be up by 2% to $211.3 billion in 2014.
The big growth driver is connected devices, and the report covers more than 100 consumer electronics products. Tuesday’s update is in line with the CEA forecast from January, but slightly adjusted after 2013 revenue growth turned out to be better than initially expected.
Growth is expected to be seen yet again in 2015, albeit slowing to 1.2%. The biggest driver is the so-called emerging category growth, which is projected to grow by a whopping 242% in 2014 and another 108% in 2015. This category includes 3D printers, health and fitness devices, smart watches, ultra-HD TV displays and now includes smart thermostats. The emerging product categories still represent less than 3% of the entire consumer electronics industry revenue, but that will likely reach $5 billion this year, after having been too small to track in prior years.
In video, innovations in the television category are sales drivers. The report said:
Despite a steady decline in average wholesale prices, TV sales remain critical to the industry’s overall bottom line with total TV sets and displays projected to reach $18.4 billion in 2014, down five percent from 2013. … Unit shipments of Ultra HD displays are expected to reach 800,000 in 2014, earning $1.9 billion in revenue, a 517 percent increase over the 2013 total. Revenue from Ultra HD displays is projected to exceed $5 billion in 2015 …
ALSO READ: America’s Most Profitable Products
Other data on LCD TV’s, smartphones and tablet growth will be key drivers in 2014. LCD TVs are expected to be 94% of all digital display sets sold in 2014 — 36.7 million units are expected to ship to dealers in 2014 for some $17.3 billion in revenue. Sales of mobile connected devices like smartphones and tablets are expected to remain the top two revenue drivers of growth in 2014, representing 35.1% of total industry revenues in 2014. Subcategory expectations are as follows:
Audio (headphones, Bluetooth wireless speakers and soundbars) and other categories will have the following growth numbers with gains shown as 2014 versus 2013:
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.