The markets for consumer electronics and information technology continue growing worldwide this year. In 2008 consumers will spend 9% more for products from the fields of audia/video, foto, IT and telecommunications. Total global spending on these products will probably amount to 462 billion Euros. Driving force behind this growth is innovation. These figures are based on the “GfK Retail Tracking” by the GfK which is carried out in 73 countries.
The leading region is Asia where growth amounts to 17%. This continent is particularly benefitting from the Chinese market. Besides China the other so-called “BRIC” countries (Brazil, Russia and India) are main growth regions. The markets in North America and Western Europe, on the other hand, present relatively moderate growth rates of 5% and 2% respectively.
There are three particularly dynamic product groups. Turnover in mobile phones grows by 14%, TV sets by 11% and personal computers by 10%. In each of these product groups which together account for about 65% of the total market, the development is driven by innovation. There are, for instance, the Smartphone trend, flat screen tvs as well as a switch from desktop computers to laptops. With regard to portable navigation systems the number of units sold worldwide is expected to grow by 49%.
In the first half of 2008 consumers in West Europe spent 2% more on consumer electronis than in the first six months last year. Particularly sought after were flat screen tv sets the turnover in which increased by 14%. The entire sector of consumer electronics benefitted from a demand by consumers for high-quality products offering more features.
About 60% of turnover in Western Europe were generated in the three most important countries in the first half of this year. The biggest share went to Great Britain (22%), followed by Germany (21%) and France with 17%. The remaining 40% were generated in seven other countries in Western Europe.
By the end of 2008 the GfK expects total turnover in consumer electronis to reach 46 billion Euros in Western Europe.