×
You will be redirected back to your article in seconds

5 Categories Set to Grow Consumer Electronics Biz to Record Levels in 2015

The consumer electronics industry is expected to enjoy a record year of sales in 2015, driven by a handful of categories, according to projections by the Consumer Electronics Assn.

The industry could generate an all-time high of $223.2 billion in the U.S. alone, the CEA said Tuesday, as the Consumer Electronics Show kicks off in Las Vegas and runs through Friday.

Emerging technologies — which the CEA says encompasses 3D printers, 4K ultra-high definition TVs, connected thermostats, drones and home robots, cameras and wearables — are expected to grow 108% in revenue this year. The category will represent less than 5% of the entire consumer electronics industry forecast, however, earning $11 billion.

“Our forecast underscores that consumers’ love affair with technology shows no signs of slowing any time soon,” said CEA president and CEO Gary Shapiro. “Consumer technology is all about continued innovation. In the blink of an eye, consumer demand has taken off for emerging categories such as wearables, unmanned aerial vehicles and 4K Ultra HD – categories that were too small to track just three years ago. Expect to see these burgeoning categories, as well as innovations across the full spectrum of consumer technology, on display this week at the 2015 International CES.”

Smartphones: The most popular consumer electronics category, smartphone unit shipments are projected to reach 169.3 million this year, up 6% over 2014, and generate $51.3 billion in 2015, a gain of 5%. The most popular devices will feature screen sizes between 5.3 and 6.5 inches.

4K Ultra High-Definition: Unit shipments of 4K UHD displays are projected to reach 4 million in 2015, up 208% over 2014, with revenue from such displays expected to exceed $5 billion in 2015, 106% more than last year. Larger screen sizes and smart TV features will have consumer upgrading their current displays, the CEA predicts.

TV sales remain critical as the industry’s third-largest contributor to total revenue, with sales of TV sets and displays projected to reach $18.3 billion in 2015, down 2% from 2014.

Tablets: An estimated 80.7 million tablets are expected to ship to retailers this year, up 3% from 2014. Revenues for tablets will reach $24.9 billion this year, down 1%.

Wearables: Health and fitness devices are expected to dominate the wearables market in 2015 with a projected 20 million units shipped to retailers, generating more than $1.8 billion in revenue in 2015. The overall wearable biz will see unit sales reach 30.9 million, up 61%, and generate revenue of $5.1 billion, a 133% increase. The sector includes fitness activity bands and other health and fitness devices, as well as smartwatches and smart eyewear.

Car Tech: Automotive electronics will see continued growth due to new vehicle sales in 2015, reaching revenue of $14 billion, up 3.3%.

CEA’s forecast reflects U.S. factory sales to dealers and covers more than 100 consumer electronics products. The twice-annual report serves as a benchmark for the industry.

More Biz

  • Leaving Neverland HBO

    'Leaving Neverland' Lawsuit Proves to Be a Judicial Hot Potato

    The Michael Jackson estate sued HBO last month for airing the documentary “Leaving Neverland,” which accuses the late King of Pop of serial child sexual abuse. Since then, the case has had a difficult time finding a judge to handle it. Three federal judges have recused themselves in the last week, citing potential financial conflicts [...]

  • Members of the public mourn at

    Guy Oseary’s New Zealand Fundraiser Nears $150,000, Continues Raising Money

    In the wake of the horrific shootings at New Zealand mosques last week that killed some 49 people, Maverick chief Guy Oseary launched a GoFundMe campaign to “support those affected by this tragedy at this very difficult time,” and began it with an $18,000 donation. Boosted by donations from many celebrities — including Amy Schumer, [...]

  • Cesar Sayoc Headshot

    Florida Man Pleads Guilty in CNN Pipe Bomb Case

    A Florida man pleaded guilty Thursday to sending pipe bombs to CNN and prominent critics of President Donald Trump. Cesar Sayoc appeared in federal court in New York, where he pleaded to 65 counts stemming from the mailing of 16 devices. He faces life in prison, plus 120 months, at his sentencing on Sept. 12. [...]

  • Tencent Profits Hit $1 Billion Per

    Tencent Profits Hit $1 Billion per Month as Company Loses Fizz

    Growing regulatory encroachments into its games business, a smaller than expected spin-off for its music division, and a fourth quarter profits drop, pointed to a troubling year for Chinese tech giant Tencent. Its financial results for the full 2018 period, while delivering profits of nearly $1 billion a month, appeared to bear out that thesis. [...]

  • splice

    Splice Raises $57.5 Million in Latest Funding Round

    Splice, a favorite of music creators that allows access to a library of three million rights-cleared sounds, announced today that the company closed a Series C funding round at $57.5 million. That brings Splice’s total amount raised to roughly $102 million since its launch in 2013. It raised a Series B in November of 2017. [...]

  • WGA Agents Contract Tug of War

    WGA Leaders to Meet With Showrunners on Agency Packaging Fight (EXCLUSIVE)

    WGA leaders are set to meet Wednesday night with a group of showrunners who are raising concerns about the guild’s handling of negotiations with talent agents over the issue of packaging fees and agency-affiliated productions. The meeting is set for 7:30 p.m. at WGA West headquarters. WGA West president David Goodman is expected to attend. [...]

  • Bill Murray St Vincent 2014

    Weinstein Co. Sued Over Trademark Infringement in Bill Murray Film

    A horse-racing announcer has sued the Weinstein Co., claiming that the company infringed on his trademarked phrase in a 2014 Bill Murray movie. Dave Johnson is the man behind “And down the stretch they come!,” which he began using while calling races in Illinois in the 1960s. The phrase took off when Johnson moved to [...]

More From Our Brands

Access exclusive content