The global consumer electronics market has been forecast to increase at a compound annual growth rate (CAGR) of 5.4% over the next five years, to reach an estimated value of US$1,210 billion in 2017.
After a robust 2010 when the consumer electronics market was recovering from the 2009 recession, sales in 2011 continued rising but at a slower pace. The market drivers remained relatively unchanged, with global sales of LCD TVs, smartphones, and portable computers driving both volume and value growth.
Additionally growth in the global consumer electronics industry is forecast to be driven by ongoing trends, such as, digitalisation, miniaturisation, mobility, and portability.
Products such as digital TVs, cameras, camcorders, smartphones and mobile computing devices have now infiltrated every home. The marketplace is not surprisingly characterised by cutthroat competition, short product life cycles and increasing product commoditisation.
Powering most of the innovation witnessed within the consumer electronics market is the semiconductor sector, which has played a significant role in the evolution of several path-breaking technologies that have changed the face of world that we live in today, including mobile phones and computing devices that have revolutionised communications and information technology areas.
The role of semiconductors in this technology driven world is becoming highly evident, thanks to their extensive use in a wide range of applications right from traditional computers, televisions, audio players, and telephones to more advanced electronic gadgets such as mobile phones, smartphones, PDAs, DVD players, portable media players, and video games, all of which use semiconductor devices.
In-car entertainment electronics will witness the maximum efficacy in terms of growth and product innovation, given that over 60% of a car's value resides in its electronics. In-car audio/visual systems like in-dash multimedia system with DVD video, in-dash video receivers, digital satellite radio, automotive DVD players, onboard video displays for rear seat entertainment, dedicated GPS/navigation and telematics systems, are poised to witness the highest growth.
For more information on the global consumer electronics market, see the latest research: Global Consumer Electronics Market
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