Industry disappointed

Sports spectacles did not bring a run on TV sets

The run on TV sets expected by the industry in view of the European Football Championships and the Olympic Games did not materialize this time.

(Bild: thinkstockfotos.de)

The Summer Olympics and the European Football Championship did not bring the consumer electronics industry in Germany the hoped-for sales boom. This is according to market figures published by the digital association Bitkom in the run-up to the IFA technology trade fair. In the past, major sporting events have always led to consumers buying new and larger televisions, said Bitkom CEO Bernhard Rohleder.

"This effect has not taken place in the current year," said Rohleder. According to the trend study by the digital association Bitkom on the "Future of Consumer Technology 2024", sales of classic consumer electronics such as televisions, digital cameras and audio devices will continue to decline slightly in Germany this year. Specifically, the market for classic consumer electronics will shrink by 7.5% from 8.2 billion euros to 7.6 billion euros in the current year.

The slump in televisions is also due to the fact that the market is still well saturated. In the first coronavirus year of 2020 in particular, many people equipped themselves extensively with new technologies and new devices at home, explained Rohleder. "People went on vacation less, but bought technology and electronics instead." After the end of the pandemic, however, people have not yet reached the point where they need to replace the electronics they bought back then.

Smartphone business overtook consumer electronics
The smartphone business is now bigger than the traditional consumer electronics market. The German industry association expects 21.4 million devices to be sold this year. The industry will thus achieve a turnover of 12.3 billion euros, 3.7 percent more than in the previous year. A relatively new segment in the industry, namely wearables, is also developing well. The association expects 13.1 million devices to be sold in Germany this year. Sales in this new category will total 2.6 billion euros, 8.1% more than in the previous year.

The main sales drivers in the new wearables segment are smartwatches. According to a representative survey by Bitkom, 36% of the population in Germany now use a smartwatch at least occasionally. The networked wristwatches are particularly popular with younger people. In the age group between 16 and 29, almost two thirds wear a smartwatch (64%). In the age group between 30 and 49, the figure is still 48%. However, only 14% of people in Germany aged 65 and over still wear a smartwatch.

What other smart gadgets are of interest
According to the Bitkom study, in addition to smartwatches, more and more smart accessories and gadgets are coming onto the market that can measure body data such as heart rate, temperature or fluid balance. 24% of people in Germany would like to wear smart headphones or have already worn them. 22% would wear smart insoles in their shoes, 14% would consider wearing a smart belt, 13% a smart plaster and 12% smart clothing. And 11% would like to wear a smart finger ring or already do.

"These new types of wearables are generally still quite expensive and are known more as niche products for specific health or sporting purposes. However, they have the potential for the mass market and could also replace other established wearables," emphasized Rohleder. 24 percent can imagine having a small smart assistant stuck to their teeth. Around a fifth (19 percent) would even be open to having a small smart assistant implanted.