July 22, 2008 The mobile revolution sweeping the world and changing the way it does business is unfolding rapidly despite the economic uncertainties surrounding the American dollar. Worldwide revenue for consumer electronics (CE) will grow US$42 billion (around ten percent), hitting the US$700 billion mark in 2009. The compelling benefits of unwired access to information and person-to-person communication are driving the biggest societal transformation in history – global unit sales of mobile products will top a staggering 1.5 billion units in 2008 – roughly one mobile device for every four people on the planet THIS YEAR, be it a portable navigation devices (worldwide revenue growth of nearly 20 percent in 2008), laptop computer (up 15 percent) or smartphone (up 14 percent).
Countries with fast growing economies and large emerging middle classes, such as China, India, Brazil and Russia, are driving Consumer Electronic revenue growth at present. By 2009, China will account for nearly 15 percent of global CE revenue, trailing only North America (22 percent share) and Western Europe (16 percent share).
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Mobile isn’t the only CE area booming – as well as going mobile the world is also switching to LCD TV as screens become more affordable and ever larger. Global revenue for LCD TVs will grow nearly 28 percent this year, resulting in more than 100 million units sold worldwide. Flat-screen TV sales (LCD and plasma) will account for nearly 20 percent of worldwide CE sales in 2008. DVD players, with expected sales of 127 million units in 2008, and video game consoles with expected sales of 89 million units are further testament to consumers’ use of CE products for entertainment and leisure time with friends and family.
Consumers’ ongoing desire for mobility makes this the largest CE category worldwide both in terms of unit sales and revenue “No matter where consumers are, whether it’s on the coast of Turkey or the mountains of Peru, they crave access to information, entertainment and two-way communication,” says Tim Herbert, CEA’s senior director of market research. “Many regions of the world face high population densities or underdeveloped infrastructures. Mobile products help consumers overcome these hurdles.”
“In today’s fast-paced world, the need for a moment of relaxation has never been greater,” said Anthony Rode, GfK’s director of digital convergence. “Consumers have responded to this desire by continuing to upgrade their home video and audio entertainment experience.”
The aforementioned data and forecasts are produced jointly by GfK and CEA. All revenue figures represent retail sales. CEA estimates the North American market based on their weekly/monthly MARA sales data program. GfK measures/estimates sales for the rest of the world using its extensive reach and operations in over 100 countries.