CTA reveals consumers buying $398 billion tech products

U.S. consumer technology industry, which includes streaming services, will grow 3.9 percent to $398 billion in retail revenues, according to the Consumer Technology Association (CTA).

Emerging technologies

Smart Speakers: Voice-controlled smart speakers including Amazon Echo and Google Home are estimate to sell 36.6 million units (+5 percent) and earn $3.2 billion (+7 percent) in revenue in 2019.

The adoption is slowing due to voice integration in other devices such as TVs, smart home devices and other audio products.

Smart Home: Sales of – including smart thermostats, smart smoke and carbon monoxide detectors, IP/Wi-Fi cameras, smart locks and doorbells, smart home systems, and smart switches, dimmers and outlets – will reach 29.4 million units (+23 percent) and $4.6 billion (+17 percent).

Wireless Earbuds: Devices including Apple AirPods and Bose SoundSport Free are expected to sell nearly 16 million units (+44 percent) and approach $2 billion (+46 percent) in revenue this year.

Smartwatches: Smartwatches category is expected to see 20.5 million units shipping (+25 percent), with revenues of $4.7 billion (+19 percent).

Drones: Total drone sales are expected to reach 3.4 million units (+4 percent) and just over $1 billion in revenue (+4 percent) in 2019, as more consumers and businesses adopt drones for aerial photography, drone racing and recreation.

“2019 will mark the introduction of 5G-enabled devices and smartphones and next-gen screen technology such as 8K UHD televisions to the market,” Steve Koenig, vice president of market research, CTA.

Smartphones: Smartphone revenue is expected to reach $80 billion, a two percent increase in 2019. Unit shipments are expected to grow one percent to 170.7 million.

US sale of 5G smartphones will reach 2.1 million units and cross $1 billion in revenue. By 2022, 76 percent of all smartphones sold will be 5G-enabled.

Laptops: The U.S. laptop market will sell 51 million units (+3 percent), and earn $28.4 billion in revenue (unchanged from 2018).

Consumer spending on music and video streaming services is valued at $26 billion (+25 percent) in revenue.

The live TV streaming and exclusive content through subscription video streaming services will push consumer spending to $18 billion in 2019 (+27 percent). On-demand music services such as Spotify, Pandora or Apple Music will bring in an expected $7.7 billion (+22 percent).

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