Consumer Technology Spending in the U.S.: Growth Projections for 2024 and Beyond
Thursday, 25 July 2024, 10:00
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.