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What Will The 2nd Half Bring? Growth, Says CTA

Consumer enthusiasm for technology is exceeding expectations and will drive the U.S. CE industry to an estimated 3.2 percent growth this year, according to the Consumer Technology Association (CTA), with an estimated $321 billion in retail revenue.

Highlights Of CTA’s Second-Half Outlook:

The total wearables market — which includes fitness activity trackers, other health and fitness devices, hearables, over-the-counter hearing devices and smartwatches — is expected to rise 9 percent, earning $5.6 billion.
4K UHD TVs, which CTA called one of the industry’s fastest- growing segments, are forecast to generate $14.6 billion in revenue on 16.7 million units. These are increases of 45 percent and 59 percent, respectively.
Voice-controlled digital assistants, such as the Amazon Echo, Google Home and Apple HomePod, are expected to generate $1.3 billion in revenue on 11 million units. These are increases of 22 percent and 53 percent, respectively.
Continued interest in mobile headsets and entertainment content will drive shipments of VR headsets up to 5.3 million units (79 percent increase) and $1.3 billion in revenues (43 percent increase).
Total drone sales are expected to reach 3.4 million units (up 40 percent) and $1.1 billion in revenue (up 44 percent).

“More and more consumers are adopting connected products at a rapid pace, with several categories such as drones, VR and OLED TVs surpassing significant revenue milestones just a few years since their market entry,” said Steve Koenig, CTA’s market research senior director.