Digital market hits $950b as IFA consumer electronics show nears
Ahead of the yearly consumer and electronics exhibition, popularly called IFA, scheduled for Berlin in Germany from September 1 to 6, GFK research has projected a $950 billion yearly sale in digital market between 2017 and 2018.
Besides, organisers of the event, gfu and Messe Berlin have announced that IFA 2017 will drive growth and innovation in the consumer electronics and home appliances markets – by offering brands more space than ever before.
According to Messe Berlin, this will be done by giving IFA Global Markets much more space at dedicated venue, where manufacturers can show their design and source components for future products.
Chairman of the Supervisory Board of gfu Consumer & Home Electronics GmbH, Hans-Joachim Kamp, in Libson, Portugal, said the markets for home appliances and consumer electronics products are converging, stressing that IFA is celebrating the 10th edition of home appliances at the show.
“IFA continues to be the leading platform for both market segments. No other trade show is able to meet all the demands of industry, retailers, consumers, and media participants like IFA. The show’s continued success is reflected in a steadily increasing order volume – more than $4.7 billion during IFA 2016,” he stated.
Global Director, Consumer Electronics, at market researcher GfK Retail and Technology, Jürgen Boyny, said: “Turnover in the digital market remains high. Nearly $950 billion in total yearly sales are expected in both 2017 and 2018. Whether at home or on the road, the smartphone is shaping market advances. The smartphone is connecting all areas of daily life, from the TV in the living room to the washing machine, coffee machine, or bathroom scales. The Internet of Things has already reached the consumer.”
Chief Executive Officer of Messe Berlin, Dr. Christian Göke, said: “We believe it’s time to define consumer electronics in a new way. The boundaries between consumer electronics and home appliances, the digital and the physical worlds, are blurring. Whether it is in the kitchen, the living room or the office, the “consumerization” of devices is exponential – from entertainment in the living room to healthcare and wellness, automotive, mobile devices, gaming, computing, services like the Internet of Things and the smart home, to new fields like drones, virtual, augmented and mixed reality. Today, consumer electronics connects and shapes everything. If you come to IFA, you see the future of how we live and work.”
He said IFA 2017 is being restructured to focus on brands and innovation – and define a new platform for companies that design, manufacture and sell components – the “building blocks” of future consumer electronics and home appliances.
“This year, we can offer more space to brands than ever before, all in one place and clearly organized by category. Visiting IFA at Funkturm is not a treasure hunt, but an immersive, focused industry experience.
“We are also introducing IFA Global Markets, because we want to offer even better support for the one segment of our industry that underpins everything we do: the full end-to-end supply chain, from component manufacturers to OEMs and ODMs. That supply chain drives exponential diversity in new products that launch new markets at IFA. IFA Global Markets is a distinct platform, focused on creating Europe’s largest sourcing show for the electronics industry,” said Göke.