NEW YORK ( TheStreet) -- The Consumer Electronics Association predicts that global consumer electronics spending this year will top $1 trillion for the first time ever.
Spending was $993 billion in 2011, according to the CEA and GfK Boutique Research.
Although the overall number continues to rise, growth in many categories is slowing or beginning to contract, according to Steve Bambridge, global business director at GfK.
The two exceptions are smartphones and tablets. Tablets will account for about 5% of global electronics sales, up from 4% in 2011, while smartphones will account for 22%, up from 18% in 2011, according to CEA and GfK projections.Tablets will see particularly strong growth, with 96 million new tablets expected to be sold in 2012, says Steve Bambridge, global business director at GfK. Although consumers electronic sales are expected to be flat in North America this year, they'll see significant growth in emerging-market regions, such as Latin America, where CEA and GfK predict 11% growth. Though the unit sales of TV will be flat, about 262 million worldwide in 2011, up by 1% over the 260 million units sold in 2011, LCDs will continue to see healthy growth. Mobile handset unit growth is seen at 12% in 2012. The CEA also predicts a 56% bounce in connected TV sales in 2012, and 122% growth in 3D sets. Analysts surveyed by Bloomberg predict that on average, the following consumer electronics-related stocks could rise 14% to 91% over the next 12 months. The stocks are listed in ascending order of upside potential, based on consensus analyst stock price targets.