Retail sales of consumer tech products in the US are expected to set a new record in 2021, growing 7.5 percent to USD 487 billion, according to an upgraded forecast from the Consumer Technology Association (CTA). The smartphone market will contribute USD 73 billion in revenue, up 15 percent on demand for 5G devices.
The CTA predicts more than 106 million 5G smartphones will ship in 2021, a more than five-fold increase from 2021 and generating USD 61 billion in revenue. Total smartphone shipments will grow an estimated 10 percent to 154 million units.
The laptop market is expected to set another new record as many people continue to work from home. Shipments for laptops will reach an estimated 76 million units (up 9%), earning USD 45 billion in revenue (up 11%).
While smart home device shipments are expected to grow 11 percent to over 100 million units, the CTA expects flat revenues of USD 15 billion from this segment in 2021. TV shipments are expected to drop slightly, to 45 million units, while growing revenues 5 percent to USD 24 billion on more high-end models with large screens and 8K support.
CTA's twice-yearly industry forecast reflects US manufacturer shipments for more than 100 consumer tech products and related software and services. Among the major services, video is expected to grow 15 percent to USD 43 billion on continued strong demand for subscription streaming, while gaming will come down from the record figures of 2020 (+25%), with a 2 percent fall in revenue to USD 48 billion in 2021.
