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Global consumer tech industry to grow by nearly 10% this year

by Scott Bicheno on 8 July 2008, 08:57

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Good growth for some

A joint effort between market researcher GfK and the people who run the CES show – the CEA (consumer electronics association) has forecast the global technical consumer equipment (TCE) will grow by 9.4 percent this year.

The TCE category is comprised of IT, consumer electronics, telco and photography sectors and the report values the whole market at $678 billion in 2008.

The healthy growth forecast comes with a couple of major caveats. Firstly, the vast majority of TCE growth will come from BRIC (Brazil, Russia, India, China) and the Asia/Pacific region, with the developed markets of the West actually slowing. Secondly it forecasts that global growth will slow to 6.2 percent in 2009.

Breaking down some of its findings, it was revealed that the Asian region, without Japan, will account for 36.3 percent of mobile phone sales this year, which is the most popular single product. Flat screen TVs will account for 17 percent of total global TCE expenditure, with an average price of around $1,000. PCs are just behind with 16.8 percent of global expenditure.

The chart below shows the global breakdown by region of the survey.

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