CTA Study: Consumer Enthusiasm for Connectivity to Propel Tech Industry to Record-Setting Revenues

Increasing consumer enthusiasm for the Internet of Things (IoT) and adoption of emerging technology will drive the U.S. consumer technology industry to $292 billion in retail revenues ($228 billion wholesale) in 2017, according to new research from the Consumer Technology Association (CTA), which owns and produces CES. The latest edition of CTA’s semi-annual industry report, U.S. Consumer Technology Sales and Forecasts, says sales of emerging technology products such as smart home devices, wearables and 4K Ultra HD televisions will help produce 1.5 percent year-over-year 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. Consumers recognize that connected innovations are changing our lives for the better — offering us more control and personalization while helping us lead safer, healthier and happier lives.”