Consumer tech sector to see sales fall
Print Edition
THE consumer technology sector in emerging Asian markets is expected to see its revenue fall by 2 percent in 2016, research firms said yesterday. It is the first decline in five years.
However, Chinese firms have unique opportunities in the area of new technology, such as drones, robotics and virtual reality, thanks to a huge user base and a national strategy supporting innovation, according to industry insiders.
In 2016, the revenue generated by the consumer tech sector is expected to fall to US$273 billion in the emerging Asian markets, which have been the growth engine of the global IT market since 2011, boasting peak annual growth of up to 18 percent, according to figures from the GSK and Consumer Technology Association.
The drop in revenue will be attributable to prices being driven down by increasingly fierce competition, said Karen Chupka, senior vice president of CES & Corporate Business Strategy.
However, Chupka is optimistic about some emerging technologies: home automation, drones, robotics and VR.
For example, many VR devices, including HTC Vive, Samsung Gear VR and Baofeng.com’s VR Glasses, are going to be available in China very soon.
Robotics spending in Asia will nearly double between now and 2019, making it the fastest growing market in the world, said research firm International Data Corp.
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