Consumer tech sales figures in the US are set to show positive change for the last quarter of 2020
A new market research report indicates that the consumer tech market in the US may grow by as much as 18% year-on-year (YoY) in 2020, compared to +4% YoY in 4Q2019. Unsurprisingly, this upward trend is thought to be due to the continuing need for devices that support working or learning from home.
By contrast, sales of traditional "back to school" supplies (such as...well, I think they used to be called "pens") fell by 32% YoY for the relevant period (taken here as the seven weeks leading up to August 8, 2020). Meanwhile, the numbers of laptops, monitors and external webcams including those that connect via USB sold rose by 51%, 79% and 116% respectively during the same period.
Despite these positive trends, the pandemic has taken a toll as well. Research also estimates that overall US tech revenue will fall to US$406.8 billion, or -2.2%, by the end of 2020, which will make the first year in which the market has posted a loss since 2009.
Then again, certain individual sectors of the same are now believed to do well as a whole. They include software and streaming services, health trackers and 5G smartphones, the shipments of which are thought to increase by 14% (to a worth of $86 billion), 75% (to 10 million units) and 800% (to 14 million units) compared to 2019. The takings from 5G devices are thought to add up to no less than $11 billion (+665% YoY).