“The CE industry is resilient but not immune from the business cycle. In a tough economy our products offer high value for entertainment and an entry point for entrepreneurs creating new businesses,” he said. “Innovation will kickstart the economy. The 2009 International CES is a cause for optimism with some 20,000 new products and 300 new exhibitors.”
CEA’s estimate of final shipment revenues for 2008 showed the industry reached a new high of $172 billion, an increase of 5.4% over 2007. For 2009 overall, CEA projects that domestic shipment revenues will essentially remain flat at $171 billion, a decrease of 0.6% over 2008.
The prediction is that digital TVs will help drive the industry, along with Blu-ray players and gaming, while smartphone revenues are expected to increase by 20%.
“Consumers continue to seek the best picture, sound and entertainment experience available,” said Steve Koenig, CEA’s director of industry analysis. “With a majority of U.S. homes owning an HDTV, consumers are looking to add high-definition content through Blu-ray players, gaming devices and home audio systems.”