Press Release (PressBurner) Dec 13, 2010 - Noida, Uttar Pradesh - Fueled by innovation and changing consumer preference, the industry is projected to experience a compounded annual growth of around 5%, says RNCOS.
According to our research report “Global Consumer Electronics Market Forecast to 2013” global CE industry is projected to grow at a CAGR of around 5% during 2010-2013. Continuous innovation and technological development are encouraging the emergence of new, more improved consumer electronics products which, in turn, is attracting more consumers to spend on these products. The transition to digital audio-visual technology is providing a much-needed boost for the worldwide consumer electronics industry, opening up the market for a group of exciting, new, and highly connected consumer electronic products.
A strong growth trend could be seen for the consumer Audio-Visual-Communications (AVC) equipment including flat TV–both plasma and LCD–digital TV, and DVR products. Besides, portable and wireless applications, 3G cellular products, digital still cameras, and hybrid products, such as cellular phone camera systems and mobile games platforms, are exhibiting strong growth. Additionally, increasing consumer awareness and the preference for new improved consumer electronics have fueled demand. Products like PDAs and MP3 players are no longer perceived as luxury products but are treated as necessities in the changed socio-economic environment with changed life styles.
We have also found that Asian countries like Japan, India, Taiwan and China, have the largest potential for growth in the coming years. The Asia-Pacific consumer electronics market has grown on account of high demand for flat panel TV display technologies. It is expected that the region will constitute the largest market for consumer electronics due to the fast pace economic development in emerging countries like India and China. The two Asian giants represent big markets for CE manufacturers.
“Global Consumer Electronics Market Forecast to 2013” represents a thorough study of global consumer electronics by products for instance – video equipments, television market, high definition consumer electronics, audio products, telephone equipments, and computer products. The report covers study of the US, European and Asia Pacific consumer electronics market with analysis of latest market trends. The report also provides key players analysis with a brief on their strengths and weakness.
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RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.