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LCD, plasma TVs drive growth of digital home devices

Posted: 25 Oct 2006     Print Version  Bookmark and Share

Keywords:Strategy Analytics  LCD  plasma TV  digital home market 

According to the latest research from Strategy Analytics' connected home devices service, consumers worldwide will increase spending on digital home devices by 32 per cent to Rs.7,34,739 crore ($159 billion) in 2006.

The report, "Digital Home Devices Global Market Forecast," predicts that digital cameras, DVD players and MP3 players will be the most popular items this year. In terms of revenue, however, LCD and plasma TVs are the star performers. Consumers around the world will spend nearly Rs.3,23,470 crore ($70 billion) on flat panel TVs in 2006, representing 44 per cent of total digital home market revenues.

Additionally, the report identifies a trend towards IP-connected devices as the next important wave in the migration towards digital homes. 14 per cent of digital home devices sold this year will be IP-enabled, which allows them to access digital media websites on the Internet, or stored on the home network. IP devices will become more and more popular as the popularity of digital media services, such as YouTube and iTunes, continues to grow, the research firm predicted.

"While price competition remains intense, manufacturers that meet key customer needs are enjoying significant revenue growth," says Peter King, director, connected home devices research. "The evidence is clear that consumers will increase spending on digital devices that improve their access to content and the quality of the entertainment experience."

Europe will be the world's largest market this year, with revenues of Rs.2,37,981.50 crore ($51.5 billion) and a growth rate of 38 per cent. In the United States, revenues will grow by 28 per cent to reach Rs.2,26,891.10 crore ($49.1 billion), forecasts Strategy Analytics.

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