Much has changed in the consumer tech sector over the last 10 years. A look over some of these changes helps define what the next 10 years might bring. In 2006, the Consumer Technology Association (CTA), known then as the Consumer Electronics Association, estimated the industry was roughly $156.5 billion in wholesale revenue. Fast forward 10 years, and CTA estimates the industry is nearly $224 billion. Just under half of the industry’s revenue size (44 percent) has come to market in just the last 10 years.
Here’s a look at some of the trends that have defined this growth and how those trends will evolve over the next 10 years.
A significant portion of industry growth over the last 10 years comes from just five categories. In 2016, these five tech segments – smartphones, tablets, LCD televisions, laptop computers and desktop computers – accounted for roughly 51 percent of industry revenue, down from 54 percent in 2015. In 2017, for the first time in several years, these five categories will account for less than half of industry revenue.