The global consumer electronics industry has been registering tremendous growth for the past few years. This growth can be attributed to the revolutionary technological developments after the introduction of digital technology that enabled the consumer electronics manufacturers to earn profit from the growing interaction of digital applications such as, camcorders, DVD player/recorder, digital camera etc.
According to the RNCOS report “Global Consumer Electronics Market Forecast to 2013”, global consumer electronic market will witness significant growth in the Asia Pacific region. Further, India and China will be the most attractive market in this region due to their vast ability to consume and fast pace of development. CE companies will find it easy to sell their products in these markets as these markets contain huge number of consumers for every market segment. It is projected that the Asia Pacific CE mark
The Asia-Pacific consumer electronics market has grown on account of high demand for flat panel TV. Besides, consumers in this region, especially Japan and South Korea, are more tech-savvy and prefer new technologies. Furthermore, the convergence of IT with telecom is boosting sales in this region. Asia-Pacific is now widely recognized as an important region for future growth mainly due to an increase in demand for low-priced devices in the developed countries. It holds major share of the consumer electronics market.
According to the report, the region is projected to witness significant growth in both Digital TV and IPTV usage during the next four years. Moreover, STB shipments in the region, including those for cable, DBS, IPTV, and DTT television services, are expected to grow rapidly. It is expected that high definition consumer electronics including HD set top boxes and HD game consoles, video equipments including digital TV, HDTV, and 3D TV will expand their market at a fast pace in the region.