The evolution of the smart and connected home has created new revenue growth opportunities for consumer electronics vendors and telecom service providers. According to the latest worldwide market study by Berg Insight, the number of smart homes in North America and Europe reached 45 million in 2017.
The Consumer Technology Association records factory sales to dealers of over 300 consumer tech products, software and services in the United States. It predicts that revenue from U.S. tech industry retail sales will reach a record $377 billion in 2018 — that’s a 6% increase over 2017.
Despite the decline in overall shipment volume, the PC market is expected to grow 3.6 percent to $237.3 billion in 2018, fueled by 2-in-1s (detachable tablets and convertible notebook PCs), ultraslim notebooks, and even desktops — particularly expensive ones used for gaming.
The global adoption of public cloud computing services, the increased performance of smartphones and the demand for Chromebooks continue to negatively impact the rest of the consumer electronics market and to a somewhat lesser degree the enterprise IT marketplace.
Smart speaker users in the U.S. will grow at a compound annual growth rate (CAGR) of 47.9% between 2016 and 2020, from 16.0 million to 76.5 million. In 2018, more than 18% of the U.S. population and 21.9% of internet users will use a smart speaker at least once a month.
Worldwide tablet and PC shipments will fall by 2.1 percent to 398 million units in 2018, according to the latest market study by Canalys. But this represents the smallest decline of the past four years and sets the tone for an era of stability. So, when does the market trend return to growth? That remains a mystery.