Consumer Electronics Show, the most important event of the year in the technology industry, will probably not shake up the market considering the current economic recession and the low demand it implies, but will most likely introduce some advancement in digital TVs, home networking, and mobile computing.

Most industry experts are predicting that the software high-end developments will overshadow the latest gadgets. Microsoft founder Bill Gates won’t be delivering his usual keynote to start the show. Instead the company’s chief executive Steve Ballmerbut will address the show’s attendees which will probably be fewer this year.

Organizers are expecting 130,000 people, 8% less compared to the 141,000 attendees a year ago. As many as 2,700 exhibitors will cover the 1.7 million square feet. The space has also decreased 5% from last year’s 1.8 million square feet, said CEA spokeswoman Tara Dunion.

However, the decreasing number of people attending CES hasn’t scared companies such as Intel, Microsoft, Hewlett-Packard, IBM and Dell. The technology industry giants will showcase products as they did before and probably so will the rest of the 2,700 companies attending the show.

The possible launch of Windows 7 OS is highly anticipated and the attendees will also have the occasion to see the latest technologies, including OLED (organic light-emitting diode) TVs, netbooks, smartphones, media players, and so on.

The stars of the show may be Asus’ touch-screen netbook, or Intel’s Convertible Classmate, (a netbook with a touch screen that swivels). Via’s Nano processor may also make a good impression and, if the rumors are confirmed, Samsung will showcase its NC20 laptop based on a Nano processor.

Meanwhile, some companies like Micro Devices, Nvidia and Qualcomm may try to change the way people perceive netbooks by introducing more advanced capabilities such as boosted graphics (Nvidia) and more communication-savvy chips (Qualcomm, Freescale). Sony is also expected to come with a “revolutionary” Vayo laptop that will change the perspective users have on laptops.

Notebooks may also stir the interest. Lenovo said it will show its thinnest and lightest 16-inch laptop, the IdeaPad Y650. The system which weighs 5.6 pounds and measures an inch, will be launched in March and cost $1,199. Lenovo is also expected to present the ThinkPad W700DS laptop with two screens, which is a premiere in laptops. The ThinkPad is designed to serve people who want to perform multiple tasks at the same time.

As for smartphones, the Google Android platform is expected to extend its “tentacles” to several other mobile phone companies like Samsung, which said it may showcase an Android phone at the show. Meanwhile, Palm, who lost ground to competitors Apple and Research in Motion, also said plans to hold a big event to launch its new Linux-based OS code-named Nova.