According to research by RNCOS, the global consumer electronics industry is set for phenomenal growth in the near future with rising demand for digital products. The digital technology revolution has enabled the industry to earn profit from the growing interaction of digital applications, such as, camcorders, DVD player/recorder, digital camera, etc. On the back of all these factors, the global consumer electronics industry is anticipated to grow at a CAGR of around 5 per cent during 2010 – 2013.
The Digital TV (DTV) market plays a significant role in the consumer electronics market worldwide according to the research. The total number of DTV homes worldwide has increased dramatically during the past few years due to its advantage over traditional analogue TV. In future, it is expected that high demand will boost the number of worldwide DTV homes to 780 Million by 2013, growing at a CAGR of around 17 per cent during 2010-2013. Moreover, it is expected that manufacturers will start implementing 3D as a standard feature in their HD flat-panel product lines.