The growth in global consumer electronics goods market is likely to remain flat in 2009 as sales are cooling down on account of the global economic downturn.
According to the data compiled by the Consumer Electronics Association (CEA) and GFK Group, LCD televisions, notebook PCs and Smartphones are anticipated to make up the major share of the global consumer electronics market in 2009, but the growth in overall market will remain flat.
The CEA and GFK Group have projected the revenue earned by the global consumer electronics market at $724 Billion for 2009 against $694 Billion in 2008. Mobile devices account for the highest share of CE market and are likely to be sold more than 1.2 Billion Units this year. As more and more North American mobile users are replacing their old handsets with smartphones, the segment may grow by around 31% in 2009, but the growth in global TV market is anticipated to tumble from 10.5% in 2008 to 2.6% in 2009.
The relatively strong 2008 for the CE industry will make way for slow 2009. Although the sales of mobile devices are cooling across the world, the projection is different in North America, where mobile users are increasingly migrating to smartphones. The North American market is a determinant in this area as other regions of the world have adopted mobiles before the US.
Moreover, televisions represent the second highest consumer goods category both in terms of revenue and units sold. However, 2009 seems disappointing. LCD televisions outnumbered plasma sets during 2008 in unit sales as well as revenue, but the sales trend is likely to change as revenue growth will turn negative while unit sales will see an upward movement.
The third largest selling category in CE goods is PC. Notebook unit sales as well as revenue are expected to rise in 2009, while desktop sales will continue to remain sluggish and experience negative growth. Moreover, netbooks, with low price tag than notebook, will lead to overall low revenue growth in the PC segment.
According to a Research Analyst at RNCOS, “When compared with the performance of technology industry during last recessions, the outlook for 2009 is optimistic. However, all this sounds unrealistic during the global economic meltdown.”
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