Originally published January 24 2005
Sales of consumer electronics up significantly in 2004; analysts predict 2005 will be a record year
by Mike Adams, the Health Ranger, NaturalNews Editor
Sales of consumer electronic devices rose by nearly 11 percent in 2004, a market study shows. And industry experts predict another 11 percent growth in 2005. If the forecasts prove accurate, the industry will see a record high $125.7 billion in sales this year. The popularity spurt is widely credited to a number of new products that are quickly approaching critical mass: HDTV, MP3 players, digital cameras among others.
Manufacturer-to-dealer sales of consumer electronics will reach a record-high of $125.7 billion in 2005, according to the Consumer Electronics Association (CEA).
The report was released yesterday following a presentation by CEA Director of Industry Analysis Sean Wargo, during the International CES, the world's largest annual technology tradeshow, being held January 6-9 in Las Vegas, Nevada.
CEA also announced that the estimated year-end totals for 2004 would exceed initial expectations, reaching $113.5 billion - an increase of 11 percent compared to year-end totals for 2003, the first year sales of consumer electronics products passed the $100 billion mark.
That passion is reflected in the continued sales growth of our industry."
In the video category, digital television (DTV) continued to be a front-runner in 2004, as total sales of DTV products reached $10.7 billion on 7.3 million units, which is an increase of 78 percent in dollar sales and 63 percent in unit sales over 2003 figures.
The portable MP3 player category has shattered all expectations as unit sales more than doubled in 2004 to over 6.9 million units and dollar sales nearly tripled in revenue to $1.2 billion, compared to figures from 2003.
The category will continue to grow in 2005 as CEA forecasts that unit sales will reach 10 million units and $1.7 billion in dollar sales.
Current year shipments of the portable PC products are pushing the category into a new round of growth, with total revenues up 10 percent to a height of $17.2 billion.
This trend is expected to carry the market into the new year as total PC shipment revenues surpass $18 billion in 2005, bringing printers and other PC related peripherals and accessories along with them.
Data cited in this release is available for purchase through CEA's Market Activity Reports and Analysis (MARA) program.
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