Current State Of The Smart Home Industry Is Healthy And Even More Exciting
Artificial intelligence (AI), voice-recognition technology and fast connectivity will help spur overall U.S. consumer technology industry revenue to $377 billion in retail revenues in 2018, a 6% increase, according to the Consumer Technology Association (CTA).
The mid-year CTA reports states that wireless earbuds, whole home Wi-Fi solutions, and augmented/virtual reality headsets each will cross the $1 billion wholesale revenue point. The main categories that contribute significantly to revenue growth include smart homes, wearables, smart speakers, and whole home Wi-Fi solutions.
The CTA expects all smart home gadgets to increase by 43% with 41.2 million units in sale by 2018. Wearables, such as fitness activity trackers, will reach 46.1 million units in sale seeing a 9% increase. Whole home Wi-Fi solutions or mesh networks will go past the $1 billion revenue point selling 4.3 million units.
Innovations and advancements in AI, connectivity, and voice are making tech gadgets more versatile and helpful. The state of the industry currently looks healthy and exciting.
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