Consumer Electronics Industry Revenues to Touch Record High in 2014: CEA

WASHINGTON (Scrap Monster): According to a recent report published by the Consumer Electronics Association (CEA), the Consumer Electronics Industry revenues are likely to reach record highs of $208 billion in 2014. The forecast was made in the semi-annual industry report titled ‘The US Consumer Electronics Sales and Forecasts’ released yesterday during International CES 2014.

According to the report, emerging product technologies such as 3D printers, Bluetooth wireless speakers, Convertible PCs, Health and Fitness devices, Smart Watches, Ultra HD TV displays etc., will grow by 107% in 2014, as compared to 2013. The above category of products is expected to contribute over $6 billion in revenues to the CE industry in 2014 and will account for almost 65% of the revenue growth during the year.

According to the report, sales of smartphones and tablets will continue to contribute significantly to CE industry revenues in 2014. The unit sale of smartphones is projected to reach 152 million units this year almost 10% higher when compared with total sales of 138 million units in 2013. Also, smartphone revenues are expected to generate $41 billion in 2014. The report also projects the 2014 total unit shipment of tablets at 89.3 million units and the revenues at $27.3 billion.

The unit shipments and revenues for LCD displays are projected to increase slightly in 2014. CEA predicts total shipment of LCD displays in 2014 at 39 million units and the revenue from sales at $19 billion.