CES 2015: CEA Reports Industry Revenues to Reach $223.2 Billion in 2015

Revenues for emerging technologies will see the most increase in 2015

As revealed by The U.S. Consumer Electronics Sales and Forecasts, the semi-annual industry report released today by the Consumer Electronics Association (CEA), revenues for the consumer electronics (CE) industry are projected to grow by three percent this year and with this, they will reach an all time high of $223.2 billion. The forecast for the total revenues was announced by CEA President and CEO Gary Shapiro as part of his opening speech at the CES event. The International trade show is the dream place for all those who thrive on the business of consumer technology.

Wearables

This of course had to be an important category considering many of us are interested in seeing how this platform will grow into this new year. According to the forecasts of the CEA, the unit sales of the smartwatches will reach 30.9 million units, increasing by a great 61 percent as compared to the last year. And in total, these sales are expected to generate a whopping sum in revenue of $5.1 billion for 2015. The wearables category included fitness activity bands and other health and fitness devices, as well as smartwatches and smart eyewear.

Shawn DuBravac, Ph.D., chief economist, CEA, says “Mobile connected devices have reached an equilibrium, stabilizing the steep climb these products have experienced in recent years. Overall, improving economic conditions, consumer enthusiasm for new features and product categories, competitive manufacturer pricing and several other dynamics now at play should make 2015 an especially significant year for tech.”

Video

Thanks to the ever growing trend of larger screen sizes, users have been concentrating more on upgrading their video experiences. Sales of TVs have reached a critical stage at this point as they are industry’s third-largest contributor to the total revenue. However, the sales of TV sets and displays have been projected at $18.3 billion in 2015 which is a decrease of 2 percent as compared to 2014.

Emerging technologies

With more anticipation regarding the new, emerging product categories, the revenues projected show an increase by double and have grown by 108 percent as compared to last year. Included in this category are 3D printers, 4K Ultra-High Definition televisions, connected thermostats, unmanned systems, IP cameras and even the wearables.