Revenues for the consumer electronics CE industry in ghe US are projected to grow 3% in 2015 and to reach an all-time high of $223.2 billion,.
The total revenues forecast was announced by CEA President and CEO Gary Shapiro during his opening remarks at the 2015 International CES in Las Vegas.
The 2015 forecast projects that revenue for new, emerging product categories is expected to double, growing 108% year-over-year in 2015. These new technology categories include 3D printers, 4K UltraHD televisions, connected thermostats, unmanned systems (unmanned aerial vehicles, unmanned vehicles and home robots), IP cameras and wearables such as health and fitness devices, smartwatches and smart eyewear.
While the emerging product categories represent less than 5% of the entire CE industry revenue forecast, they are expected to contribute almost $11 billion to overall CE revenue in 2015.
“Our forecast underscores that consumers’ love affair with technology shows no signs of slowing any time soon,” said Shapiro.
Larger screen sizes and innovative display features have more consumers upgrading their video experience. TV sales remain critical as the industry’s third-largest contributor to the total revenue with sales of TV sets and displays projected to reach $18.3 billion in 2015, down 2% from 2014.
The continued market growth of 4K UHD TV continues to perform better than expected in 2014. Unit shipments of 4K UHD displays are projected to reach four million in 2015 (a 208% increase). Revenue from 4K UHD displays is expected to exceed $5 billion in 2015, more than double its 2014 total (a 106% increase).
“Consumer technology is all about continued innovation. In the blink of an eye, consumer demand has taken off for emerging categories such as wearables, unmanned aerial vehicles and 4K Ultra HD – categories that were too small to track just three years ago. Expect to see these burgeoning categories, as well as innovations across the full spectrum of consumer technology, on display this week at the 2015 International CES.”