Photography courtesy of CES®.
This post was provided by Max Borges Agency, one of cred’s key PR partners, who spent a week on the ground at CES 2020.
Coming off the heels of January’s Consumer Electronics Show (CES) in Las Vegas, the world is buzzing about what tech trends will be most prominent in the decade ahead. Growing up in the ‘90s, the young tech geek in me eagerly anticipated 2020 with flying cars and instant transporters. Let’s see if we’re getting close to this Blade Runner-esque vision any time soon.
Consumer Technology Industry Continues Expansion
All signs point to an upward growth trajectory for the consumer technology industry. A recent study by Barron’s cited expected retail revenues to reach $422 billion in 2020, a growth of 4 percent from 2019. Walking around CES, you can feel it. There’s an influx of innovation and energy that few other industries can match. For CES 2021, the show will expand into the West Hall, a brand-new quadrant of the convention center to facilitate the rapid growth of the industry. Consumer Technology is showing no signs of slowing down any time soon!
Digital Health Gets a Shot in the Arm
One of the consumer technology categories poised for substantial growth is Digital Health, which is predicted by Barron’s to increase by 10 percent in 2020. The venture capital community continues to infuse money into this space with $8.4 billion in new investments in 2019 according to a study by Rock Health. Modern consumers are more health conscious than ever. Whether it’s a Kettlebell that tracks your swings, a meditation headband, or a calming Vagus Nerve Stimulator, there is an abundance of innovative new devices, apps, and digital platforms that give people power over their own health and wellness unlike ever before.
Your Morning Commute Will Get Easier
A massive trend the last few years has been around mobility. There is now an entire dedicated hall at CES all for automotive technology, showcasing the latest in autonomous driving technology. Beyond self-driving cars, “micro-mobility” has recently taken center stage. Companies are attempting to solve for the challenge of the “last mile” of your commute in urban centers. A few years ago, Bird paved the way with the scooter revolution. Now companies like Niu, SpinCiti, and Juiced Bikes are rethinking personal transportation on a highly localized level.
5G Increases Connectivity…and Privacy Concerns
You may have seen a few dozen commercials recently on 5G. You might even think you already have it on your phone! (Consumer survey conducted by Max Borges Agency). 5G will make your smart home even smarter. More data points and faster connectivity will shift the “Internet of Things” into the “Intelligence of Things.” This will likely lead to a lot of cool new stuff tech will enable you to do. It will also come with concerns of privacy with increased accumulation of data. Health nuts will also condemn the long-term negative effects of what this level of connection will mean for our physical and mental health. Time will tell!
Consumer Technology Brands Will Evolve Sales and Storytelling
The landscape for marketing tech brands has changed drastically over the past decade and the same will go for the next 10 years. Now, more than ever, brands are relying on e-commerce giant, Amazon, to drive sales. Many brands are deprioritizing retail presence, citing the cash flow constrictions and significant one-sided risk. Getting positive, authentic reviews to come up higher in the Amazon algorithm is crucial. Luckily, journalists are huge fans of driving traffic to Amazon because it offers them another way to monetize their content through affiliate marketing. So, having a well-optimized Amazon presence is key for both sales and earned media coverage.
Brands are also leveraging survey data in unique ways to highlight consumer insights in the technology industry. More than ever, journalists in the tech space are interested in how consumers are viewing trends in the industry. This gives tech brands the opportunity to tell more unique stories to new audiences across the media, at conferences, and in their social and digital programs.
Well… we haven’t quite yet reached Jetsons-like proportions of technological innovation that I dreamed of as a kid, but there truly is a lot to be excited about as we look ahead into the new decade filled with tech innovation!
About the Author
Matt Shumate is Senior Vice President at Max Borges Agency. MBA is the only PR firm in the world that is 100 percent dedicated to the consumer technology industry. They have successfully helped hundreds of clients launch, gain market share, enter new categories, sell product, attract retailers, raise capital, and get acquired.