By Lorna Brett

New figures from the Consumer Electronics Association (CEA) show that the US consumer electronics industry will go beyond initial revenue projections for 2010, thanks to improved growth of 3% over 2009.

The CEA has now forecast that overall shipment revenues will reach $US174.7 billion and that industry shipment revenue will rise 4% in 2011 to a record high of over $US182 billion. The latest forecast for 2010 revenues far exceeds the CEA's estimates from January by over $US9 billion.

"Innovation in the CE industry is driving consumer enthusiasm, orchestrating a turnaround for our industry and bolstering the overall US economy," CEA president and CEO Gary Shapiro said.

"The response to innovative new products like tablet computers and 3D displays, and continued growth of other product categories, illustrate that consumers love technology. The freedom to innovate delights consumers, sustains our industry and strengthens the economy," he added.

The CEA has attributed much of the growth forecast for the US CE industry to product categories including 3D TV's, Blu-ray players, smartphones, e-Readers and tablets. According to the organisation these products will add billions of dollars to the industry's bottom line when combined.

3D TV shipments in the US are tipped to increase to 2.1 million in 2010, more than double the original forecast from January, with shipment revenue to top $US2.7 billion. The CEA predicts that by 2011, over 6 million 3D TV units will be sold, creating more than $US7 billion in revenue.
"The January edition of the forecast was cautiously optimistic about the industry's return to growth this year. Despite a relatively sluggish first half, these innovative product categories have generated a great deal of consumer interest. As a result, we see a stronger second half demand unfolding, and we anticipate a robust holiday quarter," CEA director of industry analysis Steve Koenig said.