Consumer Electronics Sales To Top $1 Trillion Worldwide
Global retail sales of consumer electronics are predicted to grow 10% this year to $964 billion according to analysts from the Consumer Electronics Association (CEA), who believe that sales could approach or even top the $1 trillion mark worldwide.
The International Consumer Electronics Show (CES) is currently under way in Las Vegas, with technology producers from across the world displaying their latest products due to launch in 2011. While the previous record attendance topped the 150,000 mark early last decade, the figures from this year look much stronger than expected, with visitor and exhibitor numbers both up on previous years, and they aren't the only positive statistics coming from the event.
"The show reflects an industry that is doing well compared to a lot of others" says Gary Shapiro, president and CEO of the Consumer Electronics Association, the non-profit trade group which stages CES.
"The economy in general has also started to improve."
This last point is certainly highlighted by the more than 20,000 new products being launched at over 2,700 booths, an indicator perhaps of the strength of the sector.
Further than this however, the CEA's latest study released on Wednesday forecast 2011 consumer electronic sales of $964 billion worldwide, up 10% on 2010's $873 billion - a 13% increase on 2009's recession hit figure.
Marking a second consecutive year of strong growth, Steve Koenig, director of industry analysis at CEA, boldly believes that this figure could even top the $1 trillion mark "if the economy holds up".
Good news for software developers and device manufacturers indeed, particularly in Western Europe, which is expected to be the leading region in 2011 with a 23% growth predicted.
At Objective Associates, we have already been experiencing first hand the success of the sector, working with clients such as Wolfson Microelectronics - chip suppliers for consumer electronics manufacturers such as Samsung, and Jabil Circuit - one of the worlds leading electronics solutions companies.
Our sizeable experience in software development, coupled with our flexible approach makes us well positioned to work with companies operating within the consumer electronics sector and we look forward to continuing to do so in 2011, providing robust and reliable software services to both existing and new clients alike.
For more on what's going on at the Consumer Electronics Show, be sure to visit the official event website - www.cesweb.org