The ‘New Convergence’
By all accounts, 2006 was an extraordinary year for the consumer electronics industry. We reached a peak level of 13 percent growth in 2006 with $145 billion in product shipments. And projections for 2007 foretell another year of strong growth, with consumer electronics shipments expected to grow another 7 percent beyond 2006 sales, a rate that even outpaces the overall retail sector by more than 2 percent.
The Consumer Electronics Association released its CE industry projections at the 2007 International CES, which brought together over 140,000 electronics industry professionals to witness the unveiling of more than 20,000 new products. One of the key themes this year was the convergence of content and technology. This was reflected in the products and service deals announced at the show, such as anytime-anywhere content-shifting devices that allow consumers to download movies or music from the Internet, watch or listen to the content on their home equipment, and transfer it seamlessly to a mobile device to take on the road.
This “new convergence” was also reflected in the keynote line up, which brought content industry luminaries, including the CEOs of CBS and Disney, to the show to trumpet new opportunities for consumers to make multi-dimensional use of content. Our industry is constantly changing, which means other businesses now have to adapt as well to meet the digital consumer’s demand and expectations.