Tablets bring growth to consumer electronics industry
The latest report from the Consumer Electronics Association suggests that innovative new products like tablet computers are responsible for the impressive growth in the CE industry. The market is expected to surpass $190 billion in overall shipment revenues in 2011, demonstrating a 5.6 percent growth rate from the previous year.
"One year ago, tablets were a new and unproven market, and now they are leading the entire industry to positive growth," said CEA director of industry analysis Steve Koenig. "The revenue boost from these innovative products is undeniable as a number of other segments are reaching maturity and sales are naturally declining."
The report projects steady growth for the tablet market, with 26.5 million units reaching retailers and generating $14 billion in shipping revenue by the end of the year.
The expanding popularity of the tablet segment is receiving attention across the CE industry for another reason as well. According to market research firm Prosper Mobile Insights, tablet success often comes at the expense of other gadgets. By offering an impressive range of capabilities, these innovative devices are gradually cutting into the sales of everything from alarm clocks to MP3 players.