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Wednesday, January 27, 2010

Consumer Electronics Market Returns to Growth in 2010

A good supporting point for the global recovery is that, after a 6.7 percent drop in 2009, the global consumer electronics market is expected to achieve a mild recovery in 2010 on the back of LDC TV growth, says iSuppli.

Worldwide consumer electronics OEM revenue will rise to $317.3 billion in 2010, up from $312.3 billion in 2009. While a less than 2 percent increase represents only marginal revenue growth, it marks a welcome turnaround after a dismal 2009. The 6.7 percent fall in consumer electronics OEM revenue in 2009 represented the market’s first annual decline since the 1.6 decrease during the dot-com bust year of 2001.

“Sales of consumer electronics rebounded in the second half of the year, setting the stage for renewed growth in 2010 and beyond,” said Jordan Selburn, principal analyst with iSuppli. “One major bright spot for consumer electronics in 2009 was the LCD-TV segment, which achieved 4.2 percent revenue growth due to incentives in China and the increasing sales of LED-backlit sets. The LCD-TV market is set to extend its winning streak in 2010 as stabilization in the global economy and declining prices prompt consumers to keep buying.”
Global LCD-TV OEM revenue in 2010 will rise to $75.5 billion, up 5 percent or $3.6 billion, from $71.95 billion in 2009, the largest dollar increase of any consumer electronics segment for the year.

Set-top Boxes set for growth
The next biggest growth area in terms of dollars will be digital STBs, which will see OEM revenue rise to $18.2 billion in 2010, up $1.9 billion—or 11.6 percent—from $16.3 billion in 2009.
“Strong sales of premium boxes will propel revenue growth in the digital STB market,” Selburn said. “Consumers are snapping up premium STBs that support advanced features like high-definition and Digital Video Recording (DVR).”
Sales are particularly strong in the Asia-Pacific region due to the continued expansion of digital infrastructure, giving increasingly wide swathes of the population access to pay-television content over cable, satellite and the Internet.

Appliances get plugged in
Global OEM revenue from appliances such as washing machines, ovens and refrigerators is expected to rise to $76.99 billion in 2010, up 2.1 percent or $1.9 billion, from $75.4 billion in 2009—making it the third largest dollar growth area for the year.
“Increases in sales are being driven by emerging economies, where more households are buying basic appliances, such as washing machines,” Selburn noted. “After a 4.6 percent decline in 2009, this area will rebound in 2010 as global governments continue their stimulus efforts.”
Other areas expected to experience revenue growth in 2010 include DVD video players, PMP/MP3 players, digital photo frames and handheld video games.

Plasma bleeds in 2010
In stark contrast to the LCD-TV market, global OEM revenue from plasma television is set to contract by $3 billion in 2010. Plasma television revenue is set to decline to $9.2 billion in 2010, down 24.9 percent from $12.2 billion in 2009.
“Continued cost reductions are making LCD panels more cost competitive, hurting sales of plasma sets,” Selburn said. “Furthermore, some of the leading suppliers no longer foresee plasma generating sufficient sales growth to continue investing in the technology.”
Meanwhile, CRT television revenue is set drop by $2.5 billion for the year as consumers continue to favour flat-panel displays.

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