After a 6.7 per cent drop in 2009, the global consumer electronics market is expected to achieve a mild recovery in 2010, with revenue expanding by 1.6 per cent partly because of improving sales of LCD-TVs, digital STBs and appliances, according to 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 per cent increase represents only marginal revenue growth, it marks a welcome turnaround after a dismal 2009. The 6.7 per cent fall in consumer electronics OEM revenue in 2009 represented the marketâ€šs 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,” observed Jordan Selburn, principal analyst with iSuppli. “One major bright spot for consumer electronics in 2009 was the LCD-TV segment, which achieved 4.2 per cent 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 stabilisation 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 per cent or $3.6 billion, from $71.95 billion in 2009, the largest dollar increase of any consumer electronics segment for the year.
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 per cent, from $16.3 billion in 2009.