Strong growth in market for consumer electronics

27/09/2010 - Strong growth in market for consumer electronics

  • EITO expects growth in sales of 3.1 per cent in the EU
  • Surprisingly strong sales of flat screen televisions
  • New momentum thanks to digital television


Berlin September 27, 2010

The European market for consumer electronics is expected to grow by 3.1% in the year 2010 and attain a total market volume of 64.5 billion euros. This is the forecast of the European Information Technology Observatory (EITO) based on current data from the market research institute GfK. The CE market is thus developing much better than expected. "The reason for the strong growth is the surprisingly strong increase in the sales of flat screen televisions before the Football World Cup", said EITO President Bruno Lamborghini. Half of consumer electronics sales Europe-wide can be traced back to LCD devices and plasma televisions. In the EU, more flat screen televisions are being sold than ever before, with around 61.5 million devices (an increase of 25 per cent). Sales are also set to increase by 13 per cent to 32 billion euros according to EITO forecasts.

The market has also received an additional boost from the increasing digitalisation of film and television. "In order to receive broadcasts digitally and in high resolution, customers require a set-top box", said Lamborghini. In France, Italy and Great Britain, sales for these devices are seeing growth rates of up to 85 per cent. Blu-ray players, digital cameras and hi-fi systems are also seeing an increase in turnover. However, sales for games consoles, MP3 players and navigation devices are on the decline.

According to EITO forecasts, the strongest growth in sales among the major EU countries is in Italy at a rate of 4.8 per cent to 6.5 billion euros and Germany at a rate of around 3 per cent to 13.4 billion euros. The consumer electronics markets in Spain and France are slightly negative with declines of 0.5 per cent to 5 billion euros and 1.3 per cent to 9.6 billion euros respectively in the year 2010. Europe's second-largest CE market is being severely hit. In Great Britain, sales drop by over 10 per cent for the third time in a row in 2010, with a fall of 11 per cent to around 10 billion euros.

Since 1993, the European Information Technology Observatory (www.eito.com) offers high quality and up-to-date information on European and global markets for information technology, telecommunications and consumer electronics. The EITO is managed by Bitkom Research GmbH, a wholly owned subsidiary of BITKOM, the Federal Association for Information Technology, Telecommunications and New Media in Germany. EITO collaborates with leading market research institutes including IDATE, IDC and GfK, and research activities of the EITO Task Force are supported by the European Commission and the OECD. EITO is sponsored by CeBIT, Deutsche Telekom, KPMG, Messe München, Red.es and Telecom Italia.


Contact
:
Maurice Shahd, EITO Press Spokesman, m.shahd@eito.com   

 


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