The worldwide market for consumer electronics will grow by 1.5% this year, according to German industry association gfu Consumer & Home Electronics.

The increase is mainly driven by rising smartphone sales. Growth is particularly strong in the Middle East and Africa, North America and the emerging markets in Asia.

In Europe and the mature markets in Asia, the researchers expect a decline. The market for consumer electronics products in Germany remains stable with a turnover of almost 27.5 billion.