5:32pm PT by Carolyn Giardina
CES: Consumer Technology Association Projects $292B in 2017 Sales
While acknowledging that the world is in an “era of uncertainty,” with changes ranging from the Brexit vote to the election of Donald Trump, the Consumer Technology Association projects that the U.S. consumer-tech industry could reach a record $292 billion in retail revenues in 2017 (up 1.5 percent year over year).
The optimistic results of CTA's latest U.S. sales forecast were revealed Tuesday in Las Vegas, where the annual CTA-run CES opens on Thursday with an expected 165,000 attendees and roughly 3,800 exhibitors.
When CTA looks at the future of entertainment, it believes virtual and augmented reality has had a promising start. The association projects that in 2017, VR headset unit sales will reach 2.5 million units and $660 million in revenues. Hollywood stakeholders will be at CES this week, working on the content side of this equation.
CTA identified 4K Ultra HD TVs — “this time, arm in arm with High Dynamic Range,” said CTA senior director of market research, Steve Koenig — as one of the industry's fastest-growing segments. It projects shipments of 4K UHD displays to reach 15.6 million units in 2017 and earn $14.6 billion in revenue.
The association pointed to various emerging tech categories as growth areas. It forecasts that in 2017, total drone sales could top $1 billion in revenue for the first time, wearables could reach $5.5 billion in revenue and digital-assistant devices such as Amazon's Echo and Google Home could reach $608 million in revenue.