Consumer Electronics 2005 Forecast

Revenues from sales of consumer electronics (CE) are expected to increase 9 percent during the upcoming holiday shopping season, show the results of a new survey presented today by the Consumer Electronics Association (CEA). The survey results were revealed during CEA's 2005 Industry Forum, a technology leadership, education and networking event being held in Las Vegas.

CEA Director of Industry Analysis Sean Wargo shared top-line results from CEA's 12th Annual Holiday Sales and Forecast survey. Based on the survey, CEA is forecasting that overall holiday spending will increase 14 percent per average household over 2004, from $1,254 to $1,430, factoring in gifts, decorations, food, travel and other assorted holiday expenses.

The MP3 player topped both lists this year displacing the digital camera at the top of the gift list and the plasma TV at the top of the wish list from last year's survey. According to the 1,000 randomly selected U.S. adults CEA interviewed by phone, consumer interest in buying a portable MP3 player has increased eight percentage points from 2004, from 20 percent to 28 percent. Revenues from sales of MP3 players are up 105 percent so far this year, according to CEA Market Research.

Open Banking Usage to Grow by 470 Percent

The Open Banking business model has been advantageous for Third-Party Providers (TPPs), helping them to extend their offerings into other areas of financial services with new capabilities. Open Banking is also advantageous for traditional banking institutions, despite the perceived loss of custodianship over their data, by providing greater accessibility to more bank services. Furthermore, Open Banking can help serve Mobile Internet providers that are able to leverage it to create tailored services according to customers’ preferences and/or economic limitations. Open Banking Market Development Since traditional banking services are made more convenient by TPPs via greater data access, customers can proactively manage their finances and shape the development of new financial offerings. This is particularly noticeable in the realm of Digital Payments, where retail merchants and customers transact through eCommerce, which has the greatest number of use cases for Open Banking. These includ

Global Digital Business and IT Consulting Outlook

Across the globe, CEOs and their leadership teams continue to seek information and guidance about planned Digital Transformation initiatives and the most effective enterprise organization change management practices. Worldwide IT and Business Services revenue will grow from $1.13 trillion in 2022 to $1.2 trillion in 2023 -- that's a 5.7 percent year-over-year growth, according to the latest market study by International Data Corporation (IDC). The mid-term to long-term outlook for the market has also increased -- the five-year CAGR is forecast at 5.2 percent, compared to the previous 4.9 percent. Digital Sevices & Consulting Market Development IDC has raised the growth projection despite a weak economic outlook, because of vendor performances across 2022, growth indicators from adjacent markets, increased government funding, and inflation impacts. The actual 2022 market growth was 6.7 percent (in constant currency), which was 87 basis points higher than forecast last year, alth

Why Instant Issuance Payment Cards Evolved

The global financial services sector continues to grow as more progressive organizations seek to gain a meaningful competitive advantage from their digital transformation initiatives. Across the globe, many regions are seeing a significant rise in 'instant issuance' activity from a physical and digital perspective, from both traditional and emerging innovative banking institutions. Digital Payments Market Development Customers increasingly demand instant access to banking services, with physical instant issuance enabling them to leave their branch equipped with a ready-to-go payment card. According to the latest worldwide market study by ABI Research, the market for instantly issued physical payment cards will increase from 243.2 million shipments in 2022 to a forecast of 471.1 million in 2027. "Critically, instant issuance of payment cards is no longer limited to the physical," said Sam Gazeley, industry analyst at ABI Research . Indeed, the growing digitization of p

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