CEA Projects Record Industry Revenues

Overall revenues in the consumer electronics industry will reach $211.3 billion in 2014, year-over-year growth of 2 percent and a new record for the industry, the Consumer Electronics Association projected in a report issued Tuesday.

The U.S. Consumer Electronics Sales and Forecasts 2010-2015 attributed the strength to “skyrocketing sales of connected devices.” The projection is line with January’s number.

The report also saw a 517 percent increase in Ultra HD revenues for the year, with growth also seen in smartphones and tablets.

“There has never been a more exciting time for the technology consumer,” Gary Shapiro, president and CEO, CEA, said as part of the announcement.

“Across the consumer electronics industry, companies are packing more innovative features than ever into products that have quickly become indispensable – even as the industry continues to introduce breakthrough innovations that are capturing the hearts, minds and imaginations of consumers across the nation. Emerging tech categories including wearable devices, Ultra HD TV and 3D printers are generating tremendous consumer excitement and cementing their place as the next generation of ‘must have’ products.”

The full report can be purchased from the CEA Store.

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