The size of the market for new trend-setting devices such as 3-D printers and ultra HD TVs is expected to grow twice as large in 2014, a report showed Tuesday, creating new possibilities in the saturated global electronics market.
The market size for newcomers in the industry, such as wearable devices and Bluetooth speakers, is expected to grow 107 percent on-year this year to $6 billion, the report by the U.S. Consumer Electronics Association said.
The world‘s consumer electronics market is expected to edge up 2.4 percent on-year in 2014 to reach a new record high of $208 billion, the CEA added.
The report said while such newcomers represent less than 3 percent of the entire consumer electronics market in 2014, they drive 65 percent of combined revenue growth.
Shipments of UHD displays are expected to surpass the $1 billion mark for the first time this year while Bluetooth speakers are expected to generate $430 million in total revenue, it added.
The rosy outlook came amid an intensifying technology battle among top global players as observed in the U.S. Consumer Electronics Show earlier this month, where they unveiled numerous cutting-edge devices to prove their dominance in the market.
South Korea’s tech giant Samsung Electronics Co. rolled out its 105-inch UHD TV with improved resolution, along with other flat UHD TVs of various dimensions.
LG Electronics also showcased its own curved UHD television of the same dimension, highlighting a theater-like experience, together with the largest 77-inch curved organic light-emitting diode TVs.
Other global players, including China’s Skyworth Group Co. and TCL Corp., also introduced UHD TV models, narrowing their gaps with South Korean players.
Top players also boasted their wearable devices at the show, with Samsung introducing its Galaxy Gear smart watch linked to automobiles, while LG launched the Lifeband Touch, a wearable device that tracks users’ physical activities.
The CEA, meanwhile, added that smartphones are expected to maintain its lead in the electronics market by shipping 152 million units around the globe this year, up 10.1 percent from the 138 million units tallied in 2013, generating revenue of $41 billion. (Yonhap News)
