US consumer tech revenue to reach record $398BN in 2019 | 4K/UltraHD | News | Rapid TV News
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Research from the US Consumer Technology Association (CTA) has found that artificial intelligence (AI) and fast connectivity will drive the CE industry to a record-breaking $398 billion in retail revenues in 2019 and 3.9% year-over-year (YOY) growth.

CTA SalesForecast CES19 7Jan2019The latest edition of CTA’s flagship, semi-annual US Consumer Technology Sales and Forecasts pinpoints AI and fast connectivity as critical ingredients for the next era of category leaders such as smartphones, smart home devices and smart speakers. Of the total revenue, the CTA calculates that $301 billion will likely be in wholesale turns and also includes streaming services revenue.

Regarded as one of the industry’s revenue powerhouses, the digital display sector is said to be set to drive unit sales in 2019 above 42 million units, a 1% year-on-year increase, and register $22.6 billion in revenue, up 2% compared with in 2018.

The CTA believes that more than three-quarters of TV shipments will be sets with 40-inch screens or larger. The research sees future upgrades driven by 4K Ultra HD sets, which now make up more than half of all TV unit sales. 4K UHD sets are set for unit shipments of 22 million, what would be a 14% yearly increase, and $16.4 billion in revenue, up 8%. The CTA adds that inaugural shipments of 8K UHD TVs will likely reach $545 million in revenue and that budding OLED shipments will reach 1.4 million sets with double digit growth through 2022.

The CTA report valued consumer spending on music and video streaming services at $26 billion in revenue, 25 percent higher than 2018. It added that the availability of live TV streaming and exclusive, award-winning content through subscription video streaming services will push consumer spending to $18 billion in 2019, up 27% 2018.

“The future is bright for many tech products consumers already know and love, as stalwart revenue drivers including smartphones, laptops and televisions continue to innovate,” says Steve Koenig, vice president of market research, CTA. “2019 will mark the introduction of 5G-enabled devices and smartphones and next-gen screen technology such as 8K UHD televisions to the market. And constantly-evolving content from streaming services that enhances the experience across ‘the three screens’ – TVs, smartphones, laptops – will help push consumer spending in tech to new levels.”