New York — A report released Monday projects that mobile devices will lead consumer electronics growth to a record high of $190 billion in 2011, according to a new report from the Consumer Electronics Association.
Smartphone sales are expected to increase 45 percent to $23 billion, while sales of tablet computers will result in a $14 billion revenue gain.
“One year ago, tablets were a new and unproven market, and now they, along with other mobile connected devices including smartphones and e-readers, are leading the entire industry to positive growth,” Steve Koenig, CEA’s director of industry analysis, said in a statement.
While self-contained mobile products are expected to generate a huge increase by the end of 2011, connected devices are expected to increase as well.
CEA forecasts that consumer electronics will reach shipment revenues of 5.6 percent, up from a forecast of 3.5 percent in January and assumes a U.S. GDP growth rate of 2.4 percent. Industry shipment revenues will surpass $190 billion this year, about $4 billion more than anticipated in January. Growth is projected to continue into 2012, reaching an all-time high of $197 billion in shipment revenues.
“Innovation continues to drive the electronics industry to record levels, even in the face of declining economic growth overall,” said CEA president and CEO Gary Shapiro. “Newer, innovative product categories, like tablets, not only meet consumer demand but also help bolster our industry and strengthen the overall American economy.”