RNCOS Research: Consumer Electronics Revenue Skipping by 8% in 2006
The ever-evolving consumer electronics market with mostly teenage consumers and women to a large extent; the global sales are expected to be $135.4 billion in 2006, to soar to $158.4 billion by 2008.
(PRWEB) April 4, 2006
RNCOS Research (http://www. marketsmonitor. com/category/CP13.html (http://www. marketsmonitor. com/category/CP13.html)) The Consumer Electronic Association (CEA) plans to address issues relating to the ever-evolving digital world as also the rising trend of teenage consumers. The association has about 120 members including senior executives from top consumer electronics retail and manufacturing companies such as Samsung Electronics, Circuit City, CompUSA, Radio Shack and LG Electronics. The conference delivered a host of industry issues and business strategies for the participants.
In 2005 with the release of the next-generation gaming consoles and compatible software titles, healthy revenue of $12 billion was earned. The launches of gaming consoles are expected to continue throughout 2006 taking the market up to $14 billion.
The panelists also discussed issues relating to the growth of products that enable consumers to obtain easy access to information at home such as media servers, home networks, and broadband connectivity and expressed the importance of Voice-Over IP and remote diagnostics.
Recent trends have shown that women surprisingly hold a greater share of the consumer electronics market by almost 57% and are at the top. In most categories of consumer electronics they spend about the same as men except for video games.
In a recently published market research report by RNCOS named “Worldwide Consumer Electronics Market” it is said that the market’s global sale is estimated to touch an all time high of $135.4 billion in 2006, an increase of 8% from 2005. Sales of the same product are expected to reach a peak of $158.4 billion by the year 2008, an increase of 65% over 2000.
After conducting an extensive geographic and demographic research the report views that the Asia Pacific region wields the biggest chunk of the world consumer electronics market, closely followed by Europe. The market research report “Worldwide Consumer Electronics Market” covers the conditions of the consumer electronics industry all over the globe and the existing scope of companies in this sector. The study and review of the consumer electronic industry can be used as a valuable tool to arrive at business decisions and performance appraisal.
The report also provides a thorough study of the top 10 players across the world including Sony Corporation, Samsung Electronics, Toshiba Corp., and Sharp Corp.
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