U.S. Tech Industry Revenue Poised to Witness Notable Surge in 2021

SEATTLE (Scrap Monster): The Consumer Technology Association (CTA) has published a new report that predicts notable jump by 4.3% in U.S. tech industry revenue during the current year. As per the report, the retail sales revenue for the technology industry is projected to reach $461 billion in 2021.

The shipments of smartphones will surge higher by 4% to 161 million units. The revenues are forecast to surge higher by 5% over the previous year to $73 million. More than 67 million 5G smartphones are expected to ship in 2021. CTA report notes that laptop shipments will continue to remain strong in 2021, marginally up from 2020 by 1% to 69 million units. The sales revenue from laptops will be $38 billion.

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Also, the shipments of wireless headphone and earbud shipments will touch 91 million units, higher by 32% year-on-year. The projected DIY smart home products shipments of 99 million units in 2021 will be higher by 9% from 2020, said the report titled ‘U.S. Consumer Technology One-Year Industry Forecast’.

Gary Shapiro, president and CEO, CTA noted that the Covid-19 pandemic has pushed the fast-forward button on tech adoption. The tech industry had been able to meet every moment of the crisis proactively, he added.

The flagship report is published twice every year, in January and July. This is the first report of the current year.