This past week, over 150 thousand techies descended upon Las Vegas for the world’s biggest consumer electronics show, CES. Some of the coolest and most exciting technology is introduced to the world at the show each year, including smart home appliances, wearables, and other mobile tech at its finest.
A major theme of the show is the myriad ways connected devices are infiltrating consumers’ everyday lives. In fact, a new report finds that IoT will drive the consumer tech industry to a whopping $287 billion in retail revenues in 2016, according to the Consumer Technology Association.
Check out these interesting predictions:
- Smartphone revenues will reach $55 billion in 2016
- With quite a few virtual reality headsets being introduced this year, revenue from these devices may reach $540 million – a 440% increase.
- Smart home technology such as smart thermostats and smart home systems are expected to reach 8.9 million units sold
- Connected TVs are projected to sell 27 million units in 2016
- Sales among all wearables in 2016 are forecast to reach 38.4 million units
- Smartwatches are expected to earn $3.7 billion in revenue
The Internet of Things is growing at a remarkable rate and will make 2016 an exciting year for consumers and technology. To read more, click here. Stay tuned for more recaps next week about CES, including our favorite gadgets from the show floor.