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Emergent Tech Including 3D Printing and Virtual Reality Will Account for More Than 50% of New Tech Revenue in 2017

by • July 18, 2016 • No Comments

PrintThe high-tech trade group Consumer Technology Association (CTA) has released their mid-year industry forecast and predicted that traditional tech is beginning to be overshadowed by emerging innovation. According to the report, the US consumer innovation industry can grow to $286.6 billion in 2016 largely due to expanding adoption of Internet of Things (IoT) connected devices and a expanding enthusiasm for emergent innovation. Sales of new tech products like drones, wearables, smart home devices and virtual reality headsets can lead to a 1.3% increase in industry revenue over 2015. The forecast examines factory sales to dealers and retailers of additional than 300 various tech products.

Five of the biggest and many built categories of the tech industry can account for 51% of tech industry revenue this year, that include smartphones, tablets, televisions, laptops and computer computers. These top five categories have been relatively stable industry major products for just about a decade now. They can account for additional than $114 billion in yearly sales, with smartphones and televisions pulling in the lion’s share. But CTA is predicting that in 2017 these categories can end up contributing less than 50% of industry revenue, that can be the initially time that has happened in several years.

“We’re in the midst of a significant transition period, as additional IoT products contribute the anytime/anywhere access and seamless experiences that now a days’s consumers want and require. This is a pivotal point in consumer innovation history, as emerging tech categories – virtual reality, voice-controlled digital assistants, drones – hustle the entire industry forward. And the value of these innovations goes far beyond entertainment – now a days’s innovation is changing our lives for the better,” explained the president and CEO of CTA, Gary Shapiro.

3dp_cta_internetofthingsSome of the emerging technologies that CTA is predicting can cause this shift in industry revenue sources can include 4K Ultra High-Definition (4K UHD) innovation, fitness trackers and other wearables, cloud-based artificial intelligence-powered virtual assistants and smart home products. Additionally, drone sales are assumeed to reach records highs of 2.4 million, a 112% increase over 2015. In the US, drone sales for versions at a lower place and above 250 grams, the FAA’s threshold for required drone registration, are assumeed to grow to 1.6 million units for drones at a lower place 250 grams and 825,000 units for drones over 250 grams in 2016.

CTAs U.S. Consumer Technology Sales and Forecasts report.

CTAs U.S. Consumer Technology Sales and Forecasts report.

3D printing innovation can go on to expand over its previous version, as has been the trend for several years now. According to CTA, the 3D printing industry’s unit sales can increase by 56% over last year. They assume unit sales to reach up to 171,000 individual 3D printing devices sold. The go ond refinement of 3D printing innovation is assumeed to be the major cause of this growth, as additional industries and very own users purchase computer 3D printing devices that go on to drop in price. The total revenue produced by the industry is assumeed to increase by 35% for a total of $148 million.

The real star of the tech industry sales can be Virtual Reality (VR) innovation, that include VR headsets and VR content. CTA assumes that VR headsets being added by several companies in 2016 can be the overwhelming leader in year-to-year growth. Individual unit sales are assumeed to increase by 296% over 2015 and reach 800,000 units sold. The total revenues that are being projected can reach $432 million, a 332% increase over VR unit sales in 2016.

“Technology is constantly and continuously reinventing itself, frequently cannibalizing its own growth preceding anything else does. The swath of emerging categories hitting the market in 2016 and the exponential growth of IoT are indelibly shaping the way we live our lives. How we use the internet, and the new products coming to market now a days, are changing who we are becoming,” said, chief economist for CTA, Shawn DuBravac, PhD.

The U.S. Consumer Technology Sales and Forecasts report is published two times a year, in both January and in July. It was created by CTA to forecast the surprising trends of high tech, emergent innovation and the effect that it can have on the tech market as a whole. CTA’s DuBravac can be hosting a Facebook Live Q&A chat to discuss the surprising trends and predictions in the report on July nineteenth
at 4PM ET. You can join the conversation on CTA’s Facebook Profile, as well as going over to the Emerging Technologies forum at 3DPB.com to discuss additional.