IFA: The Revenue of Consumer Electronics Will Exceed 900 Billion Euros

The revenue in the global consumer electronics market will exceed 900 billion euros this year, which will be about 4 percent higher than last year, with expectations that global sales of small and large household appliances will increase by 7 and 5 percent, respectively, according to predictions presented to journalists in Berlin on Thursday ahead of the IFA consumer electronics fair.

One of the largest global consumer electronics fairs, IFA, will be held for the 57th time from September 1 to 6, featuring more than 1,800 exhibitors from around 70 countries, and over two thousand journalists from around the world have been accredited for the fair.

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Although it opens to the public on Friday, IFA traditionally started two days earlier with communication and media content and numerous press conferences where manufacturers and other exhibitors presented new products and services.

Representatives of the organizers, CEO of Messe Berlin Christian Goeke and IFA Executive Director Jens Heithecker emphasized at the opening press conference the greater occupancy of the fair compared to last year, as well as the fact that deals worth more than 4.5 billion euros are expected to be concluded at the fair.

– At IFA 2017, the world’s largest brands will showcase the latest trends and products, from very thin TV screens that fit into walls or windows with magnets, hi-fi music components with optimal sound to cameras that record 360-degree videos. There are also innovations regarding smart homes, a mini world that ‘comes out’ of 3D printers, and this year the emphasis is also on digital wearable devices for fitness and health, as well as smart, innovative, and connected devices for homes for more energy-efficient, safer, and healthier living, said Goeke.

They assessed the role of IFA as extremely important for the successes, growth, and development of the global industry of small and large household appliances, which are no longer just ‘ordinary’ but smart refrigerators, washing machines, mixers, and other devices of attractive design and quality. They expect that global sales (excluding North America) of these devices will rise to about 230 billion euros this year.

The president of the analytical company gfu Consumer&Home Electronics GmbH Hans-Joachim Kamp highlighted the importance of the growth of the TV device market with increasingly innovative display, sound, and design solutions (OLED, quantum dots, 4K, HDR), as well as smart cars and smartphones with increasing processing power.

– Among other new products, the growing market for drones should not be overlooked, with nearly 2 million sold worldwide last year, which are becoming more powerful with longer flight times, higher camera resolutions, and 360-degree cameras. Although less than expected, sales of VR glasses are also increasing to over 2.2 million, and among the most sought-after products in Europe are headphones, whose sales are climbing above 30 million, said Kamp.

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The director of the research company GfK Juergen Boyny indicated that a lot is still expected from smartphones, which actually shape market progress by connecting all areas of everyday life.

– The main driver is still mobile connectivity as the ‘smartphone’ is used for much more than just calling, messaging, and social networks. They are increasingly used for mobile payments, VR and AR, smart homes, enabling smart cars, and the key word in all of this is applications, said Boyny.

GfK predicts that global sales of these phones will grow from last year’s 1.4 billion to nearly 1.5 billion this year and 1.55 billion in 2018.