MUMBAI: Revenues for the consumer electronics (CE) industry are projected to grow nearly three per cent, reaching a new record-high of $209.6 billion, according to the semi-annual industry forecast released by the Consumer Electronics Association (CEA) in the US.

The forecast also shows 2012 industry revenues reached $204 billion, up five per cent from the previous year. CEA President and CEO Gary Shapiro announced the forecast.

He said, "Innovation fuels our economy and allows us to further economic growth and create jobs. There is no better place to see innovation than at the International CES, and the products on display this week will propel the CE industry to record levels in 2013."

Mobile connected devices continue to drive industry growth:

• Tablet computing will continue double-digit growth in 2013. Unit sales of tablets are projected to reach 116 million this year, up 45 per cent from 2012, when 80 million tablets were sold to dealers. Industry revenues for tablets are expected to surpass $37 billion this year, up from $31 billion in 2012.
• Smartphones continue to be the primary revenue driver for the industry with growth projected to continue in 2013. Unit sales of smartphones are projected to reach 130 million this year, up from 111 million in 2012. Smartphone shipment revenues are expected to surpass $37 billion in 2013, up from $33 billion in 2012
• Laptop/notebook computer sales will continue to rise as 26 million units are projected to be sold in 2013 accounting for $17 billion in revenue.

CEA director of industry analysis Steve Koenig said,"CEA‘s forecast once again confirms that CE products play an increasingly indispensible role in consumers‘ lives. Consumer adoption of smartphones and tablets continues to expand briskly, as mobile connected devices take center stage in today‘s connected, digital lifestyle."

There are a number of bright spots within the television category that are helping drive overall industry growth, despite total unit sales of displays falling slightly in 2013. Both unit sales and revenues for LCD displays are projected to increase this year. A record-high 30.4 million LCD TVs are expected to ship to dealers in 2013, resulting in more than $15 billion in revenue. Innovations within the display category continue to grow. Sales of TV sets with 3D functionality are projected to increase 39 percent to more than 5.7 million units in 2013. Internet-connected displays will also see strong growth this year, with unit sales reaching 12.3 million, up from 9.2 million in 2012.

Elsewhere in the industry, a number of other categories are expected to see growth in 2013, including:

• Audio: Soundbar shipments are projected to increase 22 percent to 2.2 million units.
• Auto-sound: Aftermarket head units supporting Internet radio are projected to see sales nearly double, surpassing 2 million units.
• Digital Imaging: Shipments of compact system cameras with interchangeable lenses are projected to grow 22 percent to 1.1 million units.
• Set-Top Boxes: Network-enabled digital media set top box shipments are expected to hit 7.4 million units, a gain of 13 percent over 2012.