China leads Asia for tech innovation

Shanghai Daily, March 17, 2015

China leads Asia for technological innovation and prospects as well as being a major spender of technology globally, the Consumer Electronics Association said Monday in Shanghai.

Demand for smartphone replacement, in-car entertainment and 3D printing and robotics in the country is propelling innovation and demand, said US-based CEA, organizer of the world's biggest tech show Consumer Electronics Show.

The emerging Asia region led by China generated tech spending of US$282 billion in 2014 — 26 percent of the global level. Spending will shift to lower-end devices in emerging markets this year, according to CEA, which will hold its first China-based show CES Asia 2015 in Shanghai in May.

"China is a leading region in Asia for tech market growth, innovation and opportunities," said Karen Chupka, CEA's senior vice president of international CES and corporate business strategy, who explained why Shanghai was picked to host CES Asia.

China's technology market has great potential for smartphone replacement, ultra high-definition TV, smart home and car entertainment.

Low-cost products also have relatively high-quality features in China, especially in smartphones and in-car entertainment products, Chupka said.

The in-car entertainment market in China was worth US$2.2 billion in 2014 and will rise to US$2.3 billion this year, according to CEA.

Automakers, including Mercedes-Benz and Continental, as well as e-retailer and home appliance giant Hisense have confirmed attendance at the CES Asia show, which has drawn 250 exhibitors.

CES Asia will feature 3D printing, robotics and wearables as well as 14 product categories, according to CEA.