Automation News

CTA: Enthusiasm Propelling Record IoT Revenues

28 Jan , 2017  

Increasing consumer enthusiasm for the Internet of Things (IoT) and adoption of emerging technology will drive the US consumer technology industry to $292 billion in retail revenues ($228 billion wholesale) in 2017, according to new research from the Consumer Technology Association (CTA), the trade association representing more than 2200 companies in the $292 billion US consumer technology industry.

The latest edition of CTA’s semi-annual industry report, US Consumer Technology Sales and Forecasts – unveiled today in advance of CES 2017 – says sales of emerging tech products such as smart home devices, wearables and 4K Ultra HD televisions will help produce 1.5% year-over-year (YOY) growth in industry revenues.

“Our forecast reinforces our belief that connectivity is going to be one of the driving trends of our time,” said Gary Shapiro, president and CEO, CTA. “More and more consumers are discovering the remarkable benefits connected products deliver, providing anytime/anywhere access to information, entertainment and each other.”

Among categories tracked by CTA’s forecasts, US sales of connected devices are projected to reach 600 million units in 2017 – a record high total and 5% year-on-year increase from 2016. Key categories are smart home items, digital assistant devices, 4K Ultra High-Definition (4K UHD) TVs, virtual reality (VR) and augmented reality (AR) equipment, drones and wearables.

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