According to market research firm In-Stat, portable digital audio players, liquid crystal display (LCD) televisions (TVs) and DVD recorders will be the products which market will grow with tremendous paces.

The top three fastest-growing consumer electronic devices from 2003-2009 are projected to be portable digital audio players at a 57.0% combined annual growth tate (CAGR), LCD televisions at 52.3%, and DVD recorders at 51.4%, according to In-Stat. The predictions are inline with the industrial trends: only Apple has supplied 14 million iPod music players last quarter, whereas liquid crystal TVs offer a right combination of image quality and price for the majority of consumers.

Two notable devices are projected to decline over the same period, analog televisions that are being squeezed out by digital televisions (a –15.3% CAGR), and fax machines (a –13.9% CAGR) that find their functionality consumed by multi-function peripherals, the high-tech market research firm says.

A recent report by In-Stat also found that the PC market is expected to grow to a 282 million unit-market by 2009, whereas worldwide semiconductor sales in the consumer electronics category will reach $45.6 billion in 2010. According to the research company, original equipment manufacturers have strong opportunities in markets in the East and in the West, and in developed markets as well as emerging markets.