According to a new report from the CEA, the consumer electronics industry will see overall shipment revenues decline in 2009. This is really no surprise considering the poor global economy. Industry revenues are expected to shrink to $165 billion this year.

In 2010, revenues are expected to grow slightly. The drop in revenues for the CE industry is the first decline seen since 2001 and the drop is the result of several market factors says the CEA.

Among these market factors are lower consumer spending, price drops on goods sold, and compositional shifts in key product categories. Revenues are expected to bottom out in the second half of 2009. The CEA says that it expects Blu-ray players to increase shipments 112% this year.

Via CEA