The Consumer Electronics Association is forecasting that consumer electronics revenues will surpass $155 billion this year, a growth of seven percent over last year. The forecast was released on the eve of the CEA-organized International CES 2007, the biggest gadget show on earth.
Last yearâ€™s total revenue from factory-to-dealer sales of consumer electronics was $145 billion, up 13% over that of 2005. CEA President and CEO Gary Shapiro said, â€œWe surpassed original projections for the second year in a row, and the industry outlook is proof positive that Americans canâ€™t do without their beloved consumer electronics.â€
Display technologies like plasma and LCD TVs are leading the pack with projected revenues of $26 billion in 2007, driven by unprecedented price declines and consumer acceptance.
The video game market is expected to pull in $16 billion in this yearâ€™s sales of next-generation consoles. Other notable segments are MP3 players and portable entertainment gadgets, navigation and GPS devices, PCs and digital cameras.