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January 4, 2023
Total U.S. consumer technology revenue in 2023 is projected to reach $485 billion, according to a new forecast released by the Consumer Technology Association (CTA) at CES this week.
The majority (69%) comes from hardware with the remainder from services, according to the forecast, which was part of the CES 2023 Technology Trends Update presented by Steve Koenig, CTA vice president of research.
The annual trends update presented to journalists and analysts by Koenig is the de facto start of CES each year.
Koenig detailed some of the global challenges facing the industry, including the softening of semiconductor demand, labor shortages, supply chain issues and inflation with rising interest rates.
With the potential of a 2023 recession, Koenig suggested that the market can expect to see four enterprise tech innovations: connected intelligence, autonomous systems, quantum computing and 5G industrial IoT applications.
The next generation of online experiences, the metaverse of things (MoT) and the technology innovations fueling it, were highlighted as digital twins, virtual spaces, shared experiences and virtual scenarios.
Koenig said highlights of transportation, one of the major themes of this CES, were the advancements of autonomous systems, the transformation of the in-vehicle experience and the evolution of the electrification ecosystem.
In-vehicle enhancements coming were noted as screenification, voice control, retail and entertainment services and features as a service (FaaS) models.
In health services, Koenig sees new frontiers in innovation, including anytime virtual visits, remote patient monitoring, fitness and wellness platforms and access to online pharmacies.
Koenig also spent some time detailing farming of the future, which is to include intelligent silos, drones and soil sensors, farming robots, connected farmers and satellite 5G connections.
One major farming innovation was the John Deere fully autonomous tractor we wrote about at the last CES. That tractor is the CES Innovation Award winner in robotics this year.
Editorial Director AI & IoT
Chuck Martin, a New York Times Business Bestselling author, futurist and columnist, is Editorial Director at Informa Tech, home of AI Business, IoT World Today and Enter Quantum. Martin has been a leader in emerging digital technologies for more than two decades. He is considered one of the foremost Internet of Things (IoT) experts in the world and his latest book is titled "Digital Transformation 3.0" (The New Business-to-Consumer Connections of The Internet of Things). He hosts a worldwide podcast titled “The Voices of the Internet of Things with Chuck Martin,” where he converses with top executives from the companies driving the Internet of Things.
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