CTA Ups Tech Forecast, Notes 5G Driving AI Adoption
U.S. consumer tech retail revenue is expected to reach $401 billion this year, said CTA Monday in an upgrade of its January forecast. CTA announced at CES it expected 2019 industry sales to top $398 million. The new forecast downgrades…
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
TV industry sales, and smart-speaker adoption is expected to slow. “Growing popularity” of streaming services, plus artificial intelligence-enabled “emerging devices” and connected car technology will be 2019's leading growth drivers, said CTA. “Enthusiasm for AI-powered technologies is skyrocketing,” said President Gary Shapiro. The cloud of “unnecessary tariffs ... threatens to slow down our nation's economic momentum," said Shapiro. CTA expects 2019 sales of Wi-Fi cameras, smart thermostats, smart smoke and carbon monoxide detectors, smart locks and doorbells and smart switches, dimmers and outlets to reach 28.6 million units, up 19 percent, and $4.5 billion, up 16 percent.