The Consumer Technology Association has issued its ‘flagship' semi-annual US Consumer Technology Sales and Forecasts report.
The CTA report reflects US factory sales-to-dealers for more than 300 consumer technology products, as well as related software and services. Gary Shapiro, president and CEO, CTA, sees the US market approaching $400 billion in annual revenues. "Our latest research shows innovations in AI and faster connectivity are among the key drivers for the industry's record growth."
CTA singled out several product categories that it expected to "contribute significantly" to growth in 2019.
Smart Speakers, such as Amazon Echo and Google Home are projected to sell 36.6 million units in 2019, a 5% year-over-year increase, and earn US$3.2 billion in revenue, a 7% year-over-year increase. CTA call this "a category to watch," while noting that adoption is slowing somewhat, due to increasing voice integration in other devices, such TVs, smart-home devices and audio products.
Smart Home products should reach 29.4 million units and US$4.6 billion in revenue, reflecting year-over-year growth of 23% and 17%, respectively. CTA sees home monitoring and security devices driving this category.
Wireless Earbuds are expected to sell nearly 16 million units, and approach US$2 billion in revenue this year, reflecting increases of 44% and 46%, respectively.
Smartwatches are expected to ship 20.5 million units, and earn US4.7 billion this year, increases of 25% and 19%, respectively. CTA sees fitness tech companies shifting their focus from basic trackers to more sophisticated smartwatches.
Drones are predicted to sell 3.4 million units and earn just over US$1 billion, showing growth of 4% on both metrics.
Meanwhile, several more-established categories will continue to at as "revenue drivers" for the industry.
Smartphones are expected to hit 170.7 million units in 2019, and US$80 billion in revenue, reflecting increases of 1% and 2%, respectively, over 2018. CTA notes that "premium, flagship models from major manufacturers" have helped to raise average selling prices. CTA expects US sales of 5G smartphones will reach 2.1 million units and over US$1 billion in revenue this year. By 2022, it predicts that 76% of smartphones in the US will be 5G-enabled.
Laptops are expected to sell 51 million units, up by 3% over 2018, earning US$28.4 billion, unchanged from 2018. CTA identifies "convertible models" and "cloud-based laptops" (Chromebooks, presumably) as "high-growth areas within computing."
Televisions are expected sell over 42 million units, down by 1% compared to 2018, and earn US$22.6 billion, up by 2%. Over 75% of TVs shipped in the US will be 40-inch or larger. CTA reports that 4K UHD models now account for over half of all TVs sold. In 2019, they're expected to sell 22 million units, up by 14%, and earn US$16.4 billion, an 8% increase. 8K sets should reach US$545 million in revenue, while OLED models are predicted to hit 1.4 million units, and see double-digit growth through 2022.
In-Vehicle Tech is projected to achieve US$17 billion in revenue this year, up by 9% compared to 2018.
CTA also offered some predictions for content services. Music and video streaming is expected to bring US$26 billion this year, an increase of 25% over last year. Video streaming is estimated to account for US$18 billion, up by 27%, and music streaming US$7.7 billion, up by 22%.
The full report is available from the CTA web site.