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Smart Speakers, Drones and Wearables Contribute to Tech Industry Growth


Kelsey Davis, Sr. Manager, Digital Media Marketing, Consumer Technology Association
The U.S. consumer technology industry will reach $377 billion in retail revenues in 2018, according to the mid-year update from CTA’s U.S. Consumer Technology Sales and Forecast. Emerging technology products are contributing to the tech industry’s growth, with tech like whole home Wi-Fi solutions , wireless earbuds and augmented/virtual reality headsets reaching the $1 billion wholesale revenue milestone for the first time.

Here’s how emerging tech categories contribute to the tech industry growth in 2018:

Smart Speakers

Voice controlled smart speakers, like Amazon Echo, Google Home and Apple HomePod, are experiencing incredible popularity in the tech industry, similar to tablets when they first debuted. CTA expects this category to reach $3.2 billion in revenue after just three years in the market.

Smart Home

Smart home devices, like smart thermostats, smoke and carbon monoxide detectors, cameras, locks, doorbells and more, will reach $4.6 billion in revenue this year.

Whole Home Wi-Fi

Also known as mesh networks, tech such as Google Wi-Fi or Netgear Orbi, are experiencing substantial growth. These products will reach $1 billion in revenue in 2018, a 103 percent increase.

Drones

As consumers adopt this exciting technology for phtography, recreation, racing and more, total drone sales are expected to reach just over $1 billion in revenue.

Wearables

The health and fitness market, including activity trackers, health and fitness devices, smart watches, personal sound amplification devices and sports technology will earn $6.4 billion in 2018.

Learn more about the growth of the technology industry from CTA.

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