Over 150,000 Expected At CES This Week; Showcasing 2,700 Exhibitors
January 08, 2007
Las Vegas, NV - All industry eyes are turning westward this week as thousands descend upon CES to witness the unveiling of trend-setting video/audio technology, computer products, and media enhancements while digesting the futuristic views of corporate visionaries. Las Vegas is hosting the annual Consumer Electronics Show (CES) January 8-11.
The mammoth show features 2,700 exhibitors debuting the latest technologies and consumer electronics gadgets. "CES attendees are experiencing, first-hand, a new convergence of consumer technology products emerging from the show floor, with new products incorporating the features, services and content that consumers crave," said Consumer Electronics Association (CEA) president and CEO Gary Shapiro.
Over 150,000 are expected to attend. A key reason: for the first time in 10 years, TV sales surpassed PC purchases. According to CEA, TV purchases generated $20 billion in sales last year, largely due to the shift to HDTV. PC sales for 2006 were pegged at $19 billion.
Factory-to-dealer sales of total consumer electronics are projected to exceed $155 billion in 2007, or seven percent growth, according to the semi-annual industry forecast released by CEA on Saturday. That’s up by $10 billion over 2006.
"We surpassed original projections for the second year in a row,” said Shapiro. Consumers are benefiting from our industry's innovations and only want to see more of them. I’m excited to be witnessing this innovation first-hand on the show floor at the International CES."
Todd Thibodeaux, CEA's senior vice president of industry relations, acknowledged 2006 industry growth far exceeded CEA's conservative forecast at the beginning of the year. "We originally forecast eight percent growth, but when all was said and done, we saw an impressive 13% growth for the year. Consumers started the year investing in innovative consumer electronics products and seemingly never stopped.”
Flat-Panel Display Sales Leading the Way
Thibodeaux said the display category will continue to fuel industry growth in 2007. "The TV market is setting all-time revenue records. CRT-based sets are giving way to flat panel displays. The successful ongoing transition to digital television is driving demand in this market space."
CEA projects that display technologies will continue to be the star category in the industry and account for $22 billion in revenues for 2007. All television sets manufactured today with an analog tuner must also contain a digital tuner, which is largely responsible for the vast increase in digital television sales. Unprecedented price declines in plasma and LCD displays are also contributing to growth. For 2007, these flat panel displays are expected to ship a combined 19 million units.
Next-generation consoles will make the video game market one to watch in 2007. An analysis of year-end game console sales reports for 2006 indicates that holiday sales will lift revenues in 2007 to $16 billion, a 23% increase.
MP3 players continue to drive the audio market. CEA projects that MP3 players will account for 90% of the $6 billion in revenues for the portable entertainment market. Thirty-four million MP3 players shipped in 2006 and an additional 41 million are expected to ship in 2007.
"One of the biggest drivers of both the audio and portable entertainment markets is the MP3 player. It continues to ship at large volumes and 2007 will be no different as the market shifts into a replacement mode. For example, many consumers will be replacing their first generation players with new players offering video playback capability," said Thibodeaux.
Driving the mobile electronics market are portable navigation and GPS devices, evidence that consumers are continually looking for products that will keep them safe and make their automotive travel easier. Two million units shipped in 2006, a 66 percent increase over 2005, and 2007 shipment volumes will continue to propel the market with three million units projected to be shipped, generating $1 billion in revenues.
Other product categories that will see substantial growth in 2007 according to CEA, are PCs, accessories and digital imaging devices. In 2006, shipment volumes of laptops eclipsed their desktop counterparts. Accessory sales are also expected to grow in 2007, to the tune of $11 billion, largely due to an overall consumer emphasis on portability. Total digital imaging shipments are expected to exceed 32 million units, with revenues projected to reach $8 billion, which will mark 2006 and 2007 as the category's best revenue years.
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