Smart Speakers, Smart Home and Whole Home Wi-Fi Solutions to Reach Revenue Milestones Says Consumer Technology Association

Artificial intelligence (AI), voice-recognition technology and fast connectivity – critical ingredients for smart speakers, smart home technologies and smartphones – will help spur overall U.S. consumer technology industry revenue to $377 billion in retail revenues in 2018, a six percent increase, according to the Consumer Technology Association (CTA). The mid-year update of CTA’s flagship report, U.S. Consumer Technology Sales and Forecasts, also shows whole home Wi-Fi solutions and wireless earbuds will each cross the $1 billion wholesale revenue milestone for the first time this year.

4K UHD television sets, digital streaming devices and smart speakers are among the fastest growing technology segments, according to the latest Consumer Technology Association (CTA) research. Smartphones continue their meteoric popularity and are now owned in 87 percent of U.S. homes, second only to televisions at 96 percent ownership. Laptops are the third most popular product in the United States. Smartwatches are also growing in popularity.

Google is all-in in its determination to compete with Amazon, Apple and everyone else on the hardware front. On the same day, Google unveiled its second-generation family of consumer hardware products, including new Pixel 2 smartphones, Google Home Mini and Max smart speakers, an all-new Pixelbook tablet/laptop, Google Pixel Buds wireless earbuds, and more. No longer releasing "reference hardware" for its software ecosystem, Google is apparently determined to emulate Apple's successful strategy.