Consumer Technology Spending in the U.S.: Growth Projections for 2024 and Beyond

Thursday, 25 July 2024, 10:00

The Consumer Technology Association (CTA) forecasts a modest growth of 1% in U.S. consumer tech spending for 2024, amounting to $505 billion. This growth is an encouraging sign after previous stagnation in the market. Looking ahead, experts predict a more substantial increase of 4.4% by 2025, reflecting a rebound in consumer confidence and tech adoption. In conclusion, the CTA's forecast suggests a positive outlook for the consumer technology sector in the coming years.
VentureBeat
Consumer Technology Spending in the U.S.: Growth Projections for 2024 and Beyond

Growth Forecast for U.S. Consumer Technology

The Consumer Technology Association (CTA) has made significant projections regarding future spending in the sector. According to their analysis:

2024 Spending Projections

  • Overall retail revenues for the U.S. consumer tech industry are expected to increase by 1% in 2024.
  • This translates to an estimated value of $505 billion in sales.

Projected Growth for 2025

Further projections indicate that by 2025, the growth rate could reach 4.4%.

Conclusion

The forecast provided by the CTA is an encouraging sign, suggesting that consumer confidence is gradually returning, which may lead to more robust market expansion.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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