These are the next big products in consumer technology

Technology ITU

ITU/V. Martin
Photo: ITU/V. Martin

This article is brought to you thanks to the strategic cooperation of The European Sting with the World Economic Forum.

Author: Johnny Wood Writer, Formative Content

Gadgets come and gadgets go. While some live up to the hype, many just fade away and are forgotten. Technology moves on at such a rapid pace that it’s sometimes hard to determine exactly how big the next big thing will be.

The Consumer Technology Association (CTA) records factory sales to dealers of over 300 consumer tech products, software and services in the United States. It predicts that revenue from US consumer tech industry retail sales will reach a record $377 billion in 2018, a 6% increase on the previous year.

So, which emerging products are driving the US market?

Ultra-high-definition TVs and wearable tech are the top revenue generators
Image: Statista

Televisions are by far the biggest money-makers among emerging consumer tech, with sales of 4K ultra-high-definition (UHD) models expected to reach 18.6 million units in 2018. The sector is set to generate a year-on-year revenue increase of 7%, totalling $14.3 billion.

As the “internet of things” and other products driven by artificial intelligence continue to influence the tech market, sales of smart products are set to grow rapidly in the coming years. Gary Shapiro, CTA president and CEO, explains: “Innovations in AI, voice and connectivity are making tech devices more helpful and versatile, and changing our lives for the better.”

Smart speakers are projected to make the biggest market gains with forecast sales of 39.2 million units after just three years on the market. Revenues are set to increase 64% on the previous year.

The smart home sector is also booming. Growing consumer demand for internet-connected thermostats, smoke and carbon monoxide detectors, IP/wifi cameras, locks, doorbells, home systems and switches saw expected revenues for this sector rise by 36%.

Revenues for drones and virtual reality headsets are each expected to surpass the $1 billion mark for the first time in 2018.

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

the European Sting Milestones

Featured Stings

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

China Unlimited Special Report: The trip to China

A Sting Exclusive: “Regional Policy: a fully-fledged investment policy”, Commissioner Cretu reveals live from European Business Summit 2015

UN chief pays tribute to Egypt’s role in avoiding ‘dramatic’ escalation in conflict across the Gaza-Israel border

Can the next financial crisis be avoided?

Fighting crime: faster EU-wide exchange of non-EU nationals’ criminal records

MWC 2016 LIVE: Verizon boasts momentum for IoT platform

EU to negotiate an FTA with Japan

Commission challenges Council over EU 2014 budget

Deutsche Bank slammed by the US-based trio of IMF, Fed and Moody’s

G20 LIVE: The European Sting covers online world news and the latest developments at G20 from Antalya Turkey

Would you let an AI vote for you?

Civilians suffering due to sanctions must be spared ‘collective punishment’ urges UN rights expert

Use “blockchain” model to cut small firms’ costs and empower citizens, urge MEPs

UN Security Council urged to act against ‘worst-case scenario’ Syria’s war-battered Idlib

Women’s leadership ‘critical’ to future of Niger

Parliament’s interparliamentary delegations established

MWC 2016 LIVE: Zuckerberg warns mobile industry not to ignore the unconnected

Children who exercise have more brain power, finds study

Banks launch green charter to help shipping reduce its carbon footprint

The unpleasant truth of plastic straws

Mexico must increase foreign bribery enforcement: full implementation of anti-corruption reforms could help

The cuts on 2014 Budget will divide deeply the EU

Parliament votes reform for better European Co2 market but critics want it sooner than later

Hatred ‘a threat to everyone’, urges Guterres calling for global effort to end xenophobia and ‘loathsome rhetoric’

These 4 Nordic countries hold the secret to gender equality

The European Council takes more measures to stem illegal migration

Climate action: 4 shifts the UN chief encourages Governments to make

The movement of anti-vaccers: taking humanity back 200 years

Eurozone in trouble after Nicosia’s ‘no’

UN General Assembly President defends ‘landmark’ migration compact

Rehn very reserved about growth in Eurozone

A very good morning in European markets

South Eurozone urgently needs fairer distribution of taxation burden

How secure is blockchain?

More women and girls needed in the sciences to solve world’s biggest challenges

Sustainable Development Goals: making the world a better place

Here’s how blockchain could stop corrupt officials from stealing school lunches

The European Commission, European Investment Bank and Breakthrough Energy Ventures establish a new €100 million fund to support clean energy investments

UN envoy says he ‘is ready to go to Idlib’ to help ensure civilian safety amid rising fears of government offensive

Long live Eurozone’s bank supervisor down with the EU budget supremo

GSMA Announces First Keynote Speakers for 2019 “MWC Los Angeles, in Partnership with CTIA”

EU-Russia relations: the beginning of a warmer winter?

We are close yet so far…

Can the EU last long if it cuts Cyprus out?

Nigeria: Armed conflict continues to uproot thousands, driving up humanitarian need

Why do US presidential elections last so long? And 4 other things you need to know

Chart of the day: These countries have the largest carbon footprints

Superbugs: MEPs advocate further measures to curb use of antibiotics

FROM THE FIELD: Changing world, changing families

“CETA is a game changer for major trade agreements”. The Sting reports live from EBS 2015

India’s economy is growing fast, but its poorest areas lag behind. Here’s why this could be about to change

Brazilian healthcare and the Global Compact for safe orderly and regular migration

Summertime Consultation: 84% want Europe to stop changing the clock

Mozambique pledging conference hopes to soften devastating blow of back-to-back cyclones

Cambodia’s schools are the new frontline in the battle against climate change

Aid funding for Occupied Palestinian Territories at ‘all-time low’

WEF Davos 2016 LIVE: “Employment contracts today are a reducing share of the workforce”, scientists worry in Davos that the 4th industrial revolution threatens employment globally

Electronic cigarettes: is it really a safe alternative to smoking?

Azerbaijan chooses Greek corridor for its natural gas flow to EU

Euro-Mediterranean Assembly fixes its permanent seat in Rome

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s