Global consumer electronics market expected to grow by $1,100b in 2012

The global consumer electronics market is expected to grow by $1,100 billion in 2012, market researchers have projected.

That is an increase of 2% over 2011 figures.

“We expect the world market for large-scale home appliances to grow by 178 billion dollars, an increase of 8 per cent“, Dr. Reinhard Zinkann, Chairman of the Consumer Electronics Trade Association ZVEI was quoted as saying.

Meanwhile, IFA 2012, the global consumer electronics exhibition starting in Berlin August 31, has seen unprecedented expansion of 1.4 per cent increase over 2011, the organisers, Messe Berlin have said.

The display area at the world’s leading show for consumer electronics and home appliances now totals 142,200 m², according to organisers.

“IFA is a global industry barometer. It reflects industry trends and the economy and provides an important boost for the markets. IFA takes place at just the right time of year for the industry and the trade to prepare for peak business around Christmas. More and more exhibitors are focusing on IFA to introduce their new products to the market,” Dr. Christian Göke, Chief Operating Officer of Messe Berlin says.

The event ends September 5, 2012

By Emmanuel K. Dogbevi