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³Everything that can be invented has been invented.´ This comment, commonly attributed to
Charles H. Duell, commissioner of the U.S. Office of Patents in 1899, is intriguing, if not
entirely accurate. At the end of the nineteenth century, it did seem as if everything that was
absolutely necessary for a rural/agrarian or an urban/industrial mode of living had been invented.
By the end of that century, transportation innovations including the railroad and the steamboat
were flourishing, the nascent automobile had been developed, and experiments with flight were
beginning to show promise. Communications systems had been advanced to include the
telegraph, telephone, and radio telegraphy. Both factory owners and farmers benefited from
machines that could do jobs faster and better than humans could do them. Few could have
predicted the revolution to come that led the world beyond the industrial age and toward the
information age. The twentieth-century innovations that would forever change almost every
aspect and sphere of human behavior would not be foreseen until the final decades of the
century, by which time they had spawned a multibillion-dollar consumer electronics industry.

 

The term ³consumer electronics´ encompasses a variety of products ranging from home theater
systems to cellular telephones to personal computers. Though no one person can be identified as
the ³founder´ of consumer electronics, Thomas Edison would be most deserving of the title.
Edison¶s invention of the electric typewriter in 1872 and the phonograph in 1877 suggested the
early potential of a new breed of business and entertainment devices. It was his discovery called
the ³Edison Effect,´ patented in 1883, that actually led to the creation of consumer electronics.
Using the Edison Effect to control electricity, Edison opened his first experimental power station
in the early 1880s. Though later perfected using the alternating current (AC) system, the
electronics age commenced with Edison¶s power system. Over the course of the twentieth
century, appliances and household devices were either redesigned or created to take advantage of
modern electrical service to the home.

The radio, not the phonograph, can be considered the first consumer electronic device. Though
the phonograph was invented and sold decades before the radio, it was initially marketed as a
mechanical device, while radio was introduced to the public as a fully electrical device. Radio
history is rooted in nineteenth-century wire transmission technologies that gave rise to the
telegraph (1820s) and the telephone (1870s). Guglielmo Marconi, generally considered to be the
inventor of radio, first transmitted telegraphic dots and dashes without the use of wires in the
1890s. In the early twentieth century, tremendous advances led to radio telephony that allowed
voice and music to be transmitted without wires. Radio sets of the 1900s and 1910s were limited
to a growing number of tinkering enthusiasts. The general public did not own radios until the
1920s.

In 1920, the first radio stations began operation. Public displays that were held at department
stores showed consumers the magic of the new device, with its ability to carry live music and
information. These displays were effective and led to the initial acceptance of radio sets. Radio
networks that were created later in the decade introduced programming that further advanced
receiver sales, and radio supplanted the phonograph as the most popular consumer entertainment
device. Much like the phonograph sales in the nineteenth century, radio sales did not take off
until there was software that consumers found of value. The software of the phonograph was
recorded music on discs and cylinders; the software of radio²and later television²was live
programming.

One cannot underestimate the importance of the radio and the phonograph in the modern
consumer electronics industry. These innovations had a direct effect on the development of a
new breed of consumer electronic devices, including television, stereo systems, cassette and
compact disc (CD) players, and home theater systems. By the end of the twentieth century, more
than 98 percent of the U.S. population owned radios and televisions, and more than 90 percent
owned videocassette recorders (VCRs). The information age had blossomed.

 
 


More than 250 million people lived in the United States by the end of the twentieth century. The
Consumer Electronics Association (formerly the Consumer Electronics Manufacturing
Association) reported in 1998 that the number of consumer electronic devices in the country was
estimated at 1.6 billion, with annual sales exceeding $80 billion. The average person owned
about six consumer electronic devices, with the average household spending about $1,000
annually on electronics. More than six million U.S. jobs were attributable to some aspect of the
consumer electronics industry. This suggests the dramatic maturation of an industry in an
extremely short time period.

Consumer adoption of new technologies is occurring faster than at any time in human history.
The MP3 handheld music devices that download music files from the Internet became so popular
in such a short amount of time that music distribution was forever altered virtually overnight.
Digital satellite systems (DSS) and digital video, or versatile, discs (DVD) reached one million
sales in a time period of eighteen and twenty-six months, respectively. It took fifteen years for
cable television and four years for the VCR to reach that same mark of one million sales.
Because consumers so quickly adopted a wide range of consumer electronic devices (see Table
1), the electronics industry introduced more consumer electronic devices and gadgets in the final
twenty years of the twentieth century than it did during the first eighty years of the century.
Some of these innovations have become commonplace; others failed to make an impression.

There are individuals who will buy almost any new gadget. They are referred to as ³early
adopters´ because they want the newest and best consumer electronics gear. For products to be
successful, however, they must reach a ³critical mass´ that includes a much wider base of
consumers. This critical mass is divided into the ³early´ and ³late´ majority of buyers. A person
who is the last to purchase a technology is referred to as a ³laggard.´ Consumer electronics that
reach a ³critical mass´ are considered to be successful, while those that are unable to sell beyond
the early adopters are considered to be failures.
The DSS satellite dish, the DVD, and the MP3 player are examples of major success stories that
occurred in the consumer electronics industry during the 1990s. However, for every success,
failures litter the marketplace. The digital compact cassette (DCC), Atari Jaguar video game
system, digital video express (Divx), and a number of interactive television applications were
among the misfires. It is difficult to explain why one technology succeeds where another fails. A
body of research called ³diffusion of innovations´ helps to identify why consumers, over time,
either accept or reject new consumer electronic items. Diffusion research suggests five important
attributes affecting the success of a new technology: (1) relative advantage, (2) complexity, (3)
reliability, (4) observability, and (5) compatibility.

The first four diffusion attributes are straightforward. The issue of relative advantage concerns
how much better a new innovation is than the method that existed before it. The cellular
telephone had an advantage over previous telephones because of its portability. Complexity deals
with the ease of operation of the item. One of the chief advantages of radio was that the user
interface was so simple, almost any family member could turn it on and make it work. Reliability
is the measure of the consistency of the device over time. A 4-mm videotape system brought to
market in the 1990s proved to be a failure, in part, because the tapes were easily damaged. As a
result, the reliability questions were cited as a primary reason for the demise of the format.

Compatibility involves two different issues: (1) the technology¶s compatibility to the lifestyles of
the consumers, and (2) the technology¶s interoperability with existing equipment. Consumers
found that the time-shifting and video software playback features that were offered by
the VCR were compatible with their busy lifestyles. As a result, theVCR became one of the most
successful technologies of the 1970s. Interoperability of equipment is a more complex area that
involves technical standards.

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A consumer must determine if a particular computer peripheral or software works with an

existing home system. The manufacturer usually places information on the packaging that
explains compatibility issues. When groups of products work together, some form of technical
standard has been established. Technical standards of consumer devices fall into several key
categories, including first-agent standard, industry-wide agreement, and de facto standard.

With a first-agent standard, a single manufacturer or small group of companies will introduce a
device, but they allow other companies to license the device. This type of industry agreement led
to the widespread success of the CD player, which was jointly developed by Philips and Sony.
The companies made one CD system available to the music industry in 1982, and consumers had
a clear choice in the audio field. Consumers were able to buy CD music software and play it on
any CD player.
An industry-wide agreement takes place when several companies that may be developing their
own incompatible technologies agree to one standard device. Before the DVD was introduced,
Sony and Philips had plans to release the MMCD (multimedia CD), while Toshiba was
scheduled to release the similar, but incompatible, super density (SD) disc. The companies were
urged by both the software industry and other manufacturers to agree to one DVD-type of system
to avoid the compatibility problems of sustaining multiple formats. Industry-wide agreements
can be fostered by congressional and/or Federal Communications Commission (FCC) actions.
Government standards have been established for specific television set features, including
closed-captioning and V-chips that screen out shows with violent content.

The de facto standard is established in the open marketplace. Consumers decide the format battle
at the cash register. De facto standards have been developed with devices that include VCRs
(VHS becoming the standard in many countries and supplanting the Beta format) and audiotape
(the cassette defeating the eight-track, digital audiotape [DAT], and the DCC). Even after an
industry-wide agreement was reached to release one format of DVD, Circuit City released the
competing Divx format in 1998. The DVD became the de facto standard in 1999 when Divx was
discontinued. Compatibility issues are a major factor in the ultimate success or failure of a
consumer electronic device.




While it may have appeared to some by the end of the nineteenth century that everything
necessary for leading a comfortable agrarian or industrial life had been invented, it will not so
easily be accepted that everything needed to function in the information age has been introduced.
Internet connectivity, cellular telephones, fax machines, laptop computers, and personal data
assistants (PDAs) allow consumers to receive and send data instantaneously from almost
anywhere in the
world. Just as it was misguided to predict the end of change at the end of the nineteenth century,
it would be a mistake to assume that innovation in the consumer electronics industry will cease
in the near future. Several major trends continue to stimulate innovation in the electronics sector.
Included in this list are miniaturization, digitization, and convergence.

O
  


The modern consumer takes for granted the portability of electronics devices such as Walk-
mans, cellular telephones, pagers, and portable DVD players. Such portability of electronic
devices has not always been the case. Early models of the radio, television, and computer were
not considered portable. The processor of ENIAC, the first computer that was ever produced,
included eighteen thousand vacuum tubes. As a result, ENIAC filled an entire room and
generated a great amount of heat. Contemporary computers use semiconductor chips that are
microscopic when compared to ENIAC¶s ³brain.´ The widespread use of chips and transistors
has allowed designers to create personal communication devices that are highly portable.

Cellular telephones, Palm Pilots, and laptop computers are among the items that have decreased
in size while providing more options than ever before. This trend will continue as designers have
unveiled prototype MP3 players that can be placed in a device the size of a wristwatch and in
other wearable computer devices. Consumer electronics firms will continue to make ³smarter´
portable devices by packing miniature chips into devices that may include smart pagers and
language translation devices.

i    


The gravitation of communications-related software and hardware away from analog and toward
digital will continue to drive the consumer electronics industry. The recordable DVD and hard
drive-based personal recorders such as TiVo and Replay are poised to replace the analog VCR,
just as the CD basically replaced the vinyl record album. The broadcast industry is also
undergoing a major transition from an analog-transmitted medium to a more dynamic digital
medium. The conversion to high-definition television (HDTV) and digital audio broadcasting
will hasten the demise of analog television sets and traditional AM/FM radios.

The conversion of entertainment and communications to digital ones and zeroes has made
software more portable and easily transmitted. The MP3 has allowed music fans to download
music with ease and to send music as e-mail attachments. Video-streaming concepts will be the
next stage of development as people will be able to exchange home videos and video clips in the
same manner as MP3s are exchanged. Digitization and the widespread sharing of digital files
over cellular, satellite, and telephone lines does raise significant concerns about piracy of
copyrighted material and issues that are related to the privacy of the individual who is receiving
and sending digitized communication. However, the great advances that are offered by digital
communication will continue without interruption as new generations of improved digital
camcorders, personal computing devices, and still-frame cameras are introduced to the
marketplace.

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Probably the most important trend for consumer electronics is that of convergence. The
computer, the telephone, and broadcasting were always considered distinct from each other. The
consumer electronics industry has long realized that devices that are useful to consumers could
be created by combining the power of telecommunications with the power of computing. The
rise of modems to provide Internet service on personal computers, cell telephones that provide e-
mail and online services, and televisions that allow for Internet connectivity demonstrate the
notion of convergence. The merger announced by AOL and Time Warner in 2000 lends further
support to the fact that the boundaries within the various communication-related industries have
been obliterated.

All technologies that were once considered ³wired´ are converging toward wireless delivery
modes. Both telecommunication and Internet devices have become less dependent on traditional
telephone lines. Cellular telephone systems use a series of radio transmitters to provide
interconnectivity. The next wave of convergent devices may use the same type of system to
provide increased interconnection. The most promising of the wireless standards is known as the
³Bluetooth´ standard. Bluetooth would allow for the wireless networking of television, home
theater, and Internet equipment. Furthermore, Bluetooth could provide a wireless interconnection
between MP3 players, Palm Pilots, pagers, and cell telephones. This would allow for the wireless
transfer of entertainment and information between devices, thereby eliminating the wire
connection. The ease of interoperability between electronic devices suggests a dynamic and
convergent future for a new breed of consumer products.

Consumer Electronics Stores

U.S. Industry (One of 687 available reports - See full list) Search for more
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Industry Code: 44311, Aug 05 2010, 35 pages

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Major Player Market Sha
 

 Best Buy Co., Inc. XX.XX
Prior to the onset of the recession in 2009, RadioShack Corporation XX.XX
the Consumer Electronics Stores industry
benefited from increasing household wealth,
falling product prices, and increased product
choices and availability. All of this ended
with the collapse of the US housing market
as illustrated by the exit of Circuit City from
the industry. As unemployment decreases
and business sentiment picks up, consumers
will once again flock to get their hands on
the latest and greatest gadgets for their
homes and beyond.

In-depth industry market research presented

in a logical and consistent format.
Including 35 pages of insights covering
industry conditions, key statistics, competitor
analysis and market share, product and
customer segmentation and a 5 year forecast.

 
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Key Industry Figures 2009 2010
*83,659 XXXX
Industry Revenue $Mil
.2
Revenue Growth *-5.2 XXXX %
 Product/Servi Shar Industry Gross *10,928 XXXX
$Mil
ces e Product .6
Number of
TV and video XX *36,075 XXXX Units
products % Establishments
Major XX Number of
*7,642 XXXX Units
appliances % Enterprises
Computer *362,41 XXXX Peop
Employment
hardware, XX 3 le
software %
equipment Exports -- XXXX
Audio XX
Imports -- XXXX
equipment %
Home and *9,030. XXXX
XX Total Wages $Mil
office 3
%
equipment
Other XX
merchandise %
Small electric XX
appliances %
Kitchenware
XX
and home
%
furniture

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IBISWorld is the FIRST research firm to offer key statistics and in-depth analysis
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Our industry research reports feature 25-50 revealing pages, including market size, market
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Major market segments are identified, as well as forces affecting demand and supply within the
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Consumer electronics stores retail a broad range of appliances and electrical goods as well as
home entertainment products like TVs, DVD players and stereo systems. Goods are purchased
from domestic and international (in some cases) manufacturers and wholesalers. Operators
then retail goods to the general public through their store. New purchases dominate the market,
while the replacement market represents a smaller portion of sales.

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#¢#)#

Similar Industries Companies In This Industry

Computer Stores Best Buy Co., Inc.

Camera Stores RadioShack Corporation
Home & Garden Appliance Repair Services More

Up & Down Stream Sectors Factors Affecting This Industry

Home Entertainment & Appliance Yield on 10-year Treasury bills

Wholesaling
Electronic Parts & Miscellaneous International Reports
Wholesaling
Global Consumer Electronics Manufacturing
 Risk Rating of This Industry Domestic Appliance Retailing in Australia

Consumer Electronics Stores

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The major products and services covered in The primary activities of companies in this
this market research report are: industry are:

? TV and video products ? Retailing new household appliances

? Major appliances (refrigerators, washing machines, ovens)
? Computer hardware, software equipment ? Retailing new personal appliances (hair
? Audio equipment dryers, curling irons, electric razors)
? Home and office equipment ? Retailing computers alongside other
? Other merchandise household and personal appliances
? Small electric appliances ? Offering repair service in conjunction with
? Kitchenware and home furniture retail operations

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ACTIVITIES (PRODUCTS AND BARRIERS TO ENTRY
SERVICES) TAXATION
SIMILAR INDUSTRIES INDUSTRY ASSISTANCE
DEMAND & SUPPLY INDUSTRIES REGULATION AND
DEREGULATION
$
2 COST STRUCTURE

 CAPITAL AND LABOR
INFLATION ADJUSTED (CONSTANT) INTENSITY
PRICES
TECHNOLOGY AND SYSTEMS
REAL GROWTH
INDUSTRY VOLATILITY
RATIO TABLE
GLOBALIZATION
GRAPHS
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PRODUCTS AND SERVICE
SEGMENTATION
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MARKET SIZE
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DEMAND DETERMINANTS CURRENT PERFORMANCE
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MARKETS
BASIS OF COMPETITION )  11
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Industrialization dramatically and unevenly transformed world society, altering technological

patterns and work processes of preindustrial ways of life. This socio-technological revolution
changed how households dealt with food provision, clothing, cleaning and medical care. In a
word, it affected the basic elements of human reproduction.

With the development of mass production at the turn of the twentieth century, many traditionally
male tasks were abandoned, and others were left most in the hands of women and servants.
Corporate industry began providing goods and services that households had previously self-
produced. As the process of modern urbanization took place, many households started to
purchase foodstuffs from grocery stores, health care from physicians and ready-made clothing
from department stores.

At the same time municipalities developed a water system. Hence, homes were finally equipped
with running water, water heaters and indoor bathrooms. Moreover, electricity substituted
kerosene lamps, whilst other electric appliances were slowly appearing on the market (e.g.
electric fans, sewing machines, washing machines, and vacuum cleaners). Telephone and
automobiles were also appearing in a small number of families.

These developments consolidated and further expanded during the post-war economic growth.
Indeed, after World War II, household technologies dramatically spread through all the social
layers. The assembly-line production of home appliances was balanced by an increasing
consumerist culture and people's adequate purchasing power. It was the era of mass consumption
of refrigerators, electric dishwashers, radio, TV and many other durable goods.
Finally, as of the 1970s, the technological evolution brought the use of computers and micro-
chips. This determined the massive and fast expansion of consumer electronics. At the turn of the
Twenty first century, new products such as microwave ovens, compact-disc players, Mp3 players
and personal computers, keep altering household everyday life. More importantly, the attention
of producers is increasingly focused on the environmental impact of new technology. Indeed, the
new frontier of technology should be capable to progressively address its consequent effects on
human reproduction in relation to the biosphere.


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This industry profile helps to gain an insight into the evolution of the industry and competitive
dynamics prevalent in the market. It discusses the significant developments in the industry and
analyzes the key trends and issues. The profile provides inputs in strategic business planning of
industry professionals.

This profile is of immense help to management consultants, analysts, market research

organizations and corporate advisors.

The objective and scope of various sections of our industry profile has been discussed below.

Industry Snapshot
This section gives a holistic overview of the industry. It starts with defining the market and goes
on to give historical and current market size figures. It also clearly illustrates the major segments
of the market which would be discussed later on in the report.

Industry Analysis
It involves a comprehensive analysis of the industry and its market segments. This section
discusses the key developments that have taken place in the industry. It also identifies and
analyzes the driving factors and challenges of the industry. A description of the regulatory
structure tells us about the major regulatory bodies, laws and government policies.
Country Analysis
This section presents the key facts & figures of the country. It also discusses the political
environment and the macroeconomic indicators. It analyzes government stability and economic
growth of the country.

Competitor Assessment
This section compares the major competitors in the industry. The Competitors At-a-Glance is
aimed at giving an overview of the competitive landscape in the industry.

Company Profiles
The major companies are profiled in this section. For each company, business description is
given followed by financial highlights and recent developments.

Industry Outlook
This section presents the outlook of the industry. The analyst opinion and projections help us in
evaluating the future of the industry. It gives an insight into the investment opportunities present
in the sector.
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|bpdom- pjb lrxoebxx sjohj oxe±p miifb` r~ pi oe ir| hirep| - ox eis oe pjb b bx ia gde
grmpo'edpoiedm loccobx% Loc Ld{dd| jdx xjise d |ilrxp c|ispj oe |bhbep bd|x%
Xir|hb ;' bhieigoh pogbx <>>:
Loc Ld{dd| ox eip krxp deipjb| j ~b|gd|fbp% Op hdpb|x pi bqb| ebb` ia ir| adgom %
Sjb|b
Loc Ld{dd| xhi|bx iqb| ipjb| xpi|bx ox opx qdmrb ai| gieb ~|i~ixopoie ai| pjb Oe`ode
hrxpigb|x%
Dp Loc Ld{dd|- ir somm `baoeopbm cbp pjb lbxp ~|i`rhpx dp pjb lbxp ~|ohbx ' pjdp±x
sjdp sb
crd|depbb% Sopj pjb bqb| oeh|bdxoec d||d ia ~|oqdpb mdlbmx- op jdx i~beb` pjb `ii|x
oepi
pjb si|m` ia adxjoie de` cbeb|dm gb|hjde`oxb oehmr`oec jigb ar|eoxjoecx- rpbexomx-
h|ihfb| - hrpmb| - x~i|px cii`x de` grhj gi|b dp ~|ohbx pjdp somm xr|~|oxb ir% De`
pjox ox
krxp pjb lbcoeeoec% Loc Ld{dd| ~mdex pi d`` grhj gi|b pi hig~mbpb ir| xji~~oec
bz~b|obehb%