CEA Forecast: $155 Billion in 2007 Gadgets Sales

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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 year’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, “We surpassed original projections for the second year in a row, and the industry outlook is proof positive that Americans can’t do without their beloved consumer electronics.”

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 year’s sales of next-generation consoles. Other notable segments are MP3 players and portable entertainment gadgets, navigation and GPS devices, PCs and digital cameras.

[Via: BusinessWire.com]

Published by Chris Malinao

Chris teaches Lightroom as workflow software to photography students at the FPPF, Federation of Philippine Photographers Foundation. He also teaches smartphone photography.