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United States Consumer Electronics Report Q4 2011
Business Monitor International, Oct 2011, Pages: 57
The US consumer electronics devices market, defined as the addressable market for computing devices, mobile handsets and AV products, is projected to be worth around US$239.4bn in 2011. This is expected to increase to US$276.6bn by 2015 at a CAGR of 3.0%, driven by premium TV sets, smartphones and notebooks.
In 2010, sales of consumer electronics products such as smartphones and LED-backlit TV sets grew strongly as the recovery gathered traction. However, falling average prices in many product categories placed revenues and margins under pressure, with the average price of a LCD TV set in the US market now below US$600, while the average price of smartphones continues to fall.
Mature markets in many segments mean vendors will continue to rely on product innovation to drive growth. Surveys suggest that sales of 3D TV sets and smartphones could benefit from recovering consumer confidence, but, if oil prices or interest rates pick up dramatically, it would be bad news for disposable household income.
Computers
BMI forecasts US PC hardware sales of US$144.8bn in 2011. CAGR for the 2011-2015 period will be about 2.5%, but multimedia and entertainment notebooks are growth areas. US PC sales grew strongly in 2010, boosted by a revival of the business market. BMI projects the market is on course for total PC sales of around 90mn in 2011. Notebooks remain the largest product category but face competition from the smartphones of RIM Apple, HTC and other vendors as well as tablet notebooks,spearheaded by Apple’s iPad.
AV
The US domestic video, audio and gaming device market is projected at US$64.5bn in 2011. Video applications will account for around 80% of demand during the 2011-2015 forecast period, with growth areas linked to new technologies such as LED TV sets, 3D TV and Blu-ray. Around two-thirds of US households now have flat-screen TV sets, which will require manufacturers to introduce new features to encourage continued upgrades. Vendors will focus on product innovation, with drivers including improved display quality and wider screens, as well as features such as internet connectivity.
Mobile Handsets
Total US market handset sales are expected to grow to around 160mn units in 2015. With an increasingly saturated US market, handset revenues will be driven by emerging product areas such as smartphones, touchscreen phones and HD camera phones. Smartphones will be a key growth area and are forecast to accounfor more than 50% of the US market handset sales for the first time in 2011, with Android models the fastest growing handset market segment. As new long-term evolution (LTE) networks began to come online, this should boost replacement handset purchases.
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