The US consumer electronics market is likely to outpace the forecast made by the CEA and grow robustly due to rising popularity of LCDs and video games.
According to bizjournals, revenues from the shipment of consumer electronic are expected to exceed $173 Billion in the US in 2008, almost $2 Billion above that forecasted by the Consumer Electronics Association.
The US consumer electronic revenues will rise by 7.3% in 2008, exceeding $183 Billion by 2009. In addition, the digital display market in the US is dominating the trend, with shipment revenues nearing $28 Billion and LCD televisions controlling the digital sector. At the close of 2008, it is estimated that over 60% of American families will own a minimum of one digital TV.
Due to the increasing acceptance of laptop computers and notebooks, the smartphone market of the USA is also forecasted to generate 51% higher revenue this year since customers keep getting enticed by the user-friendly consumer electronic goods that can be operated at anyplace, anytime. So the demand for electronics products in the US is increasing progressively, with customers looking forward to being entertained and educated all the time.
Moreover, with shift to digital television in February 2009, the digital display market is expected to get a further push. And as retail prices fall sharply, the overall consumer electronics market will grow impressively. However, several HDTV manufacturers have expressed concern that the decline in the housing market might upset the sales of flat panel displays in the US in 2008.
Moreover, portable video game consoles will excel throughout 2008 and income from video games will also rise, with video games becoming a popular domain for firms. The sophisticated entertainment technology along with the enhanced methods of avoiding work pressure is pushing USA’s demand for video games.
As per a Research Analyst at RNCOS, “Firms have got ample scope for growth in the USA’s electronic industry, since the American customers are thrilled by all kinds of futuristic electronic items. And thanks to the increasing popularity of the entertainment and video games, the latest software linked electronic goods are slated to be the major profit earners for USA firms.”
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