Consumer Electronic Spending Will Exceed $1 Trillion Worldwide in 2012, CEA Predicts
An estimated 20,000 new products are expected to be introduced when the Consumer Electronics Show Opens Tuesday in Las Vegas.
LAS VEGAS--Consumer spending on CE devices will exceed $1 trillion in 2012, the Consumer Electronics Association predicted Sunday in Las Vegas where the Consumer Electronics Show opens on Tuesday. CEA estimates that 20,000 new products will be launched this week.
According to CEA’s director of industry analysis Steve Koenig, in the next few years less than 50% of worldwide consumer electronics spend could come from developed nations.
“Growth will cool generally worldwide in 2012 thanks to price deflation and competition. The developed markets will be the main drag on 2012 growth but this will be countered by strong growth in Latin America and the APAC region,” Koenig said.
Smartphones and tablets—a big hardware story of 2011—are currently the key market drivers.
More than 50 new tablets are expected to be introduced this year at CES, according to Shawn DuBravac, CEA’s chief economist and director of research.
Dubravic added that he “expects more phones to launch this year than in any prior year.”
The Consumer Electronics Show runs from Jan. 10-13.