The global electronics market will exceed $1 trillion for the first time this year, with continued gains for smartphones, tablets and Internet and LED TVs, the Consumer Electronics Association said in its 2012 forecast.

Last year's market for electronics was about $963 billion, which might have been stronger without the effects of the European financial crisis, said Steve Koenig, the CEA's director of industry analysis. The 2012 prediction is based on the hope global growth will resume, with especially large demand from developing countries like China, Brazil and India.

The developed world should account for about $557 billion in electronics sales, the Arlington, Va.-based CEA predicted, with the remainder coming from emerging markets. The CEA is scheduled to open its annual international consumer electronics show Monday in Las Vegas.

Source : ibtimes.com