
CES is off and running and at the Consumer Technology Association’s annual Tech Trends briefing, executives predicted further growth for the CE industry, however there was no clarification of how much of the projected growth is due to price rises currently impacting the industry.
The organization’s senior directors claim that the market for 2025 looks healthy, based on the Tech Trends Forecast report presented at today’s event.
CTA research reveals that 2025 industry retail revenue is projected to be around $537 billion, an increase from $520 billion in 2024.
Of that, $353 is hardware and $184 billion is software.
In Australia suppliers are still trying to come to grips with a falling dollar with visitors to CES having to pay A$18 for a beer and $12 dollars for a Starbucks cappuccino with the A Dollar sitting at $0.61 to the US dollar.
CTA executives claim artificial intelligence is still growing across all aspects of the technology spectrum including in the consumer market.
In the USA 64% of consumers are using AI tools for shopping online and 40% are more likely to purchase with AI personalization, according to the report.
However, several journalists in the room are questioning this with some claiming that 3D TV’s consumers are already over the pitching of AI as a reason to pay more for a product.
The CTA report claims that smart homes, a staple at CES for the past several years, is still a maturing market with Matter still struggling to become a dominant player in the home market due to a lack of audio connectivity and management issues.
80% of U.S. consumers consider smart home technology as age tech and 52% own at least one of the top 10 perceived age tech products.
Wearables, another mainstay CES technology, was cited as a move to healthier living, with the examples of onMed CareStations, Withings BPM Pro 2 and the Whoop wearable seen as growth brands.
More to follow.