The consumer electronics industry will surpass $US600 billion in worldwide revenues this year as consumers open their wallets to buy nearly 1 billion mobile phones, almost 200 million TV sets and more than 100 million computers.
That’s according to the Consumer Electronics Association’s International CE Ownership and Market Potential report, conducted with market researcher GfK.
“Mobile phones, televisions and personal computers currently account for more than half of global CE revenue,” said Tim Herbert, senior director of market research, CEA. “But as other countries continue to adopt newer products, the global CE product mix will shift to include digital imaging and portable entertainment.”
The most desired product is a mobile phone followed by a notebook PC, reflecting consumers’ wishes to conduct business, manage their personal lives or be entertained anywhere at anytime.
The study also analyses attitudes on brands, information sources and retail channels. A majority of consumers surveyed regard friends and family as the most influential source of information on consumer electronics products, while respondents in Japan thought displays in stores were most important.
When asked, “What is a Brand?,” respondents from India place high importance on global brand recognition and less importance on whether or not the brand was local to the country or manufactured there.
In China, consumers feel more control of their lives using CE devices, while in Russia, CE products are strongly associated with fun. Brazilians are more likely to associate CE products with a feeling of luxury, while consumers in India feel more connected to the world through their CE products.
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