April 3, 2006 – Digital cameras made the Top 5 hottest markets in the Consumer Electronics Association’s annual ownership study, announced in a March 31 press release. As other studies have indicated, the digital camera market did very well in 2005; CEA’s study found that 57 percent of U.S. households own digital cameras. This figure is up from the 49 percent of households that owned them in 2004.
"America’s love affair with consumer technology products continues," said CEA President and CEO Gary Shapiro in the press release. "Consumers across the nation recognize that digital products enhance the way we all work, live and play. Digital products are cool and the CE industry remains hot."
Indeed, analog products are succumbing to the wave of digital technology available. The 5 fastest growing markets include MP3 players, digital cameras, car video entertainment systems, in-dash CD players, and notebook PCs. The MP3 market has expanded incredibly quickly, tripling sales of the units in the past year. The CEA predicts MP3 players will be a hot item in 2006 with expected sales of 30 million units.
The average U.S. household owned 26 consumer electronics products in 2005, one more than in 2004. Each household dropped about $1,200 in the consumer electronic market last year. The CEA study also found that the five most commonly owned products were televisions, VCRs, cordless phones, DVD players, and wireless phones.