LAS VEGAS, Jan. 7 — The retail revenues for U.S. consumer technology industry will reach a record-breaking 398 billion U.S. dollars in 2019, up 3.9 percent year-over-year, the Consumer Technology Association (CTA) said Sunday.
“Our latest research shows innovations in AI and faster connectivity are among the key drivers for the industry’s record growth,” said Gary Shapiro, president and CEO of the CTA, the organizer of the annual Consumer Electronics Show to be held in Las Vegas from Tuesday to Friday.
Smart speakers, smart home, wireless earbuds, smart watches and drones are among the products expected to contribute significantly to the consumer tech sector’s growth in 2019, it said in a report.
Smartphones, laptops and televisions are the top three revenue drivers for the industry, the CTA said.
Smartphone revenue is expected to reach 80 billion dollars, a 2 percent increase in 2019. The CTA projects 5G smartphone sales in the United States will reach 2.1 million units in 2019, topping 1 billion dollars in revenue.
This year marks the launch of the first 5G smartphones and 8K Ultra High-Definition (UHD) TVs, the CTA said, adding that inaugural shipments of 8K UHD TVs will reach 545 million dollars in revenue.
Besides, consumer spending on music and video streaming services is expected to reach 26 billion dollars in revenue, up 25 percent from a year ago. – XINHUA
U.S. consumer tech revenue to reach record 398 bln USD in 2019: CTA
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