The high speed of technological innovations, user-experience and the willingness to pay among others are driving sales up in the technical consumer goods market, and turnover for 2019 is projected to reach €779 billion.
Speaking at the IFA Global Press Conference, the media event held in preparation towards the IFA Consumer Electronics event in Berlin, Hans Joachim Kamp, the Chairman of the Supervisory Board gfu Consumer and Home Electronics, said with China and North America leading growth in the market with 70 per cent between them, the home appliances sector is also projected to have a turnover of €273 billion.
Kamp said TV sets will have a turnover of $90 billion in 2019 and 214 million units will be produced, while average screen size continues to grow.
He indicated the turnover for smartphones will be €460 billion with a roll out of 1.4 billion phones in 2019, and Asia will be the biggest market for smartphones, taking a 47 per cent share.
By Emmanuel K. Dogbevi in Andalusia, Spain
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