The big CES show formerly known as the Consumer Electronics Show has long evolved into a space where technology of all types get shown, often for the first time. The Consumer Technology Association, which hosts the show, researches the tech market throughout the year and opens the big event with a review of trends to watch.
Steve Koenig, vice president of research, CTA, opened with comments the key factors that impact technology and adoption. "The global economic downturn and pandemic crisis became an innovation acceleration," he says. "We've seen an abundance of innovation in the past year."
CES, forced to go virtual for its 2021 show, is on live and virtually this week with some major exhibitors bowing out in the last week. However, as 200 left 143 came back, with their opportunity to show tech in person. That "in person" experience is especially important for the 800 startup companies on hand for the event.
Koenig looked at four tech-related areas demand, investment, lifestyle and trends. "This is what we're seeing through the lens of research," he notes.
A key conclusion of his talk is that tech demand remains strong and while the growth will taper into 2022 but remain strong. According to the association's research, consumer spending on tech will top a half-trillion dollars in 2022. That number includes software services and hardware and continues a path of growth that has remained solid since 2018.
"The core fundamentals show back to back annual growth in consumer tech spending and will propel us forward into 2022," Koenig says.
Koenig points out that during the pandemic consumers leveled up their tech. A look at the technology consumers own shows increases across the board from 4K televisions to "smart" tools from appliance to lightbulbs. In addition there was a greater investment in connected fitness tools.
In the study the percentage of consumers that reported owning a wide range of new tools went up on every front between 2020 and 2021, according to CTA data.
As part of that leveling up, Koenig points to data showing that as consumers invested, they spent more on premium products rather than "standard" level items. Koenig says consumers are deciding between "Okay and great."
Even farmers know if you have cash on hand and invest in new tools you don't settle for second best. In this case the consumer is investing in a wide range of top-level tools. Smart phone sales are just one indicator, and consumers are opting for the full-featured models.
If you have access to broadband, and that's not a given in farm country, investment in streaming services may be rising as much as in town. Koenig points to interesting stats from Netflix, Disney+, Amazon Prime and Apple TV+. While Netflix is the leader with 214 million subscribers and Prime right behind at 175 subscribers, Disney+ has hit 118 million. Apple TV+ is at 20 million.
"Disney+ launched just two years ago, but as they say content is a key to success and they've topped 100 million subscribers," Koenig notes, and admits he's a Star Wars fan (which is key content for Disney+).
He adds that research shows consumers on average subscribe to eight different online services. Koenig adds that conversations with younger CTA staff members shows that some subscribe to as many as 20 services "including some I've never heard of," he quips.
Tech investment continues to rise too. Research from CB Insights show a 105% increase in year-over-year global funding of startups. That list of 800 exhibitors in the startup area at CES known as Eureka Park is one indicator that venture money still flows toward technology.
The United states gets a big chunk of that investment according to the study, but more investment is flowing into Europe, Asia, Latin America and Africa too. Key areas of investment include retail technology including logistics and tracking, fintech for financial services and healthcare.
There are challenges, he notes the chip challenge and shipping challenge. In fact, Koenig characterizes the current situation as a chip to ship issue. If you can get the chips can you ship the product. But adds that chip makers are boosting productivity where they can and investing in new plants.
One trend of that chip plant investment is diversity of location. Today most chips are made in East Asia, but new plants slated to come online in the next few years will be more geographically distributed.
No tech presentation would be complete without a discussion of 5G connectivity, but Koenig says this high-speed infrastructure is growing differently than its predecessors. "This trend is being led by enterprise not the consumer," he notes. "In the past this tech was more consumer centric, but the value of 5G is in the enterprise with industrial [Internet of Things] tools."
The global standards board for communication 3GPP for 3rd Generation Partnership Project uniting seven standards organizations will release its protocols and requirements for industrial IOT applications in 2022. This standard may bring more IOT devices to a range of industries, many powered by 5G.
Agriculture is a prime target for a lot of IOT tech, how that plays out as 5G service becomes more widely available will be interesting to see.
Artificial Intelligence will see wider application too. During Koenig's presentation the slide showing AI at work included John Deere See and Spray technology. He hailed it as a practical application of the technology at work today, but added AI will be used in autonomous systems and food technology too.
The diversity of technology impacting society today will continue to grow. Healthcare is getting more attention and technology applied there has implications for large and small communities. More access to health monitoring tools, including those for mental health, offer potential across the country.
While the tech shown isn't specifically agriculture, there are a range of tools at CES that may someday find their way to the farm. The trends show that consumers (and farmers are consumers) are paying more attention to tech these days than ever before.
You can read the CTA industry forecast online.
Farm Progress is on hand at CES this week to capture more insights on tech developments that may have application for ag in the future.
See original here:
Tech trend review offers insight into the future - Farm Progress
- Proof-of-Concept Exploit Released for Progress Software OpenEdge Vulnerability - The Hacker News - March 16th, 2024 [March 16th, 2024]
- Progress being made on fire alarms, Oswego town supervisor says - oswegocountynewsnow.com - March 16th, 2024 [March 16th, 2024]
- Progress on the Boyertown Express featured at Dinner - Berks Weekly - March 16th, 2024 [March 16th, 2024]
- Fire Crews Stop Forward Progress of Two-Acre Brush Fire Near Vandenberg - Santa Barbara Edhat - March 16th, 2024 [March 16th, 2024]
- Hopewell plans to install speed cameras at three city schools - Progress Index - March 16th, 2024 [March 16th, 2024]
- New numbers on progress of penny sales tax - The Post and Courier - March 16th, 2024 [March 16th, 2024]
- Long Island woman who survived acid attack continues to make progress in recovery - PIX11 New York News - March 16th, 2024 [March 16th, 2024]
- Beam marks progress toward bringing 1st-ever MLS team to San Diego - NBC San Diego - March 16th, 2024 [March 16th, 2024]
- McKone: Irish-American progress and paradoxes | Perspective | timesargus.com - Barre Montpelier Times Argus - March 16th, 2024 [March 16th, 2024]
- Big East reportedly making a lot of progress on media rights deals with CBS, Fox - Awful Announcing - March 16th, 2024 [March 16th, 2024]
- Berrien County farmers note slow progress on the new Farm Bill - News/Talk/Sports 94.9 WSJM - March 16th, 2024 [March 16th, 2024]
- END OF SESSION: Sen. Crider and Rep. Cherry reflect on progress made during the legislative session - Greenfield Daily Reporter - March 16th, 2024 [March 16th, 2024]
- Vowles being patient with Sargeant but expects to see "progress" - RaceFans - March 16th, 2024 [March 16th, 2024]
- Inflation ticked up in February, reversing some prior progress - ABC News - March 16th, 2024 [March 16th, 2024]
- Latest NEOM progress video of The Line is indicator of scale - Supercar Blondie - March 16th, 2024 [March 16th, 2024]
- Statewide Impact of Ohio Intel ProjectEvident in Initial Progress Report - Scioto Post - March 16th, 2024 [March 16th, 2024]
- SpaceX makes significant progress with third Starship orbital test flight - TechCrunch - March 16th, 2024 [March 16th, 2024]
- UPDATE: Forward progress stopped on vegetation fire near Lompoc - KSBY News - March 16th, 2024 [March 16th, 2024]
- Lady Rattlers and Diamondbacks ready to roll - Progresstimes - March 16th, 2024 [March 16th, 2024]
- SpaceX celebrates major progress on the third flight of Starship - Ars Technica - March 16th, 2024 [March 16th, 2024]
- Helldivers 2 Galactic War live map: Track status and progress with this Liberty-approved web app - Windows Central - March 16th, 2024 [March 16th, 2024]
- Pittsburgh police will only respond to calls of in-progress emergencies as part of new staffing plan - Police News - March 16th, 2024 [March 16th, 2024]
- A year of achievement, rebuilding and progress for utilities - Yoursun.com - March 16th, 2024 [March 16th, 2024]
- Trkiye: No Direct Dialogue with Damascus, No Progress in Normalization - Asharq Al-awsat - English - March 16th, 2024 [March 16th, 2024]
- A WORK IN PROGRESS | News | shelbynews.com - Shelbynews - March 16th, 2024 [March 16th, 2024]
- From recurrent networks to GPT-4: Measuring algorithmic progress in language models - Tech Xplore - March 16th, 2024 [March 16th, 2024]
- U.S. Inability To Address Nuclear Waste Harms Environmental Progress - Newsweek - March 16th, 2024 [March 16th, 2024]
- Park Progress - Greater Wilmington Business Journal - March 16th, 2024 [March 16th, 2024]
- SF supervisor to hold hearing on homeless-shelter progress | Housing | sfexaminer.com - San Francisco Examiner - March 16th, 2024 [March 16th, 2024]
- 'It's good to see progress being made on the site': Revised vision for Liberty Theater property in Libertyville - Daily Herald - March 16th, 2024 [March 16th, 2024]
- Diversity Among Emmy Winners Is a Result of Industry Progress - TheWrap - January 18th, 2024 [January 18th, 2024]
- What would Dr. King say about progress and 2024? - The Chicago Cusader - January 18th, 2024 [January 18th, 2024]
- Police: Petersburg woman reportedly used hammer to hit her boyfriend - Progress Index - January 18th, 2024 [January 18th, 2024]
- Spokane County crews make great progress ahead of another storm system - AOL - January 18th, 2024 [January 18th, 2024]
- Lady Tigers Split Last Weeks Game's Lexington Progress - lexingtonprogress.com - January 18th, 2024 [January 18th, 2024]
- Lexington Police Investigate Shooting at Walmart Lexington Progress - lexingtonprogress.com - January 18th, 2024 [January 18th, 2024]
- Scotts Hill Lions Dominated Last Week Lexington Progress - lexingtonprogress.com - January 18th, 2024 [January 18th, 2024]
- Older Couple Rescued From Submerged Vehicle Lexington Progress - lexingtonprogress.com - January 18th, 2024 [January 18th, 2024]
- Fore-ward Progress | Bintelli's new River Ridge facility to focus on making electric golf carts - WDRB - January 18th, 2024 [January 18th, 2024]
- VIDEO: Project manager gives update on Glenn McConnell Widening progress - Live 5 News WCSC - January 18th, 2024 [January 18th, 2024]
- Truck driver sentenced for trafficking cocaine to Prince George County - Progress Index - January 18th, 2024 [January 18th, 2024]
- After decades of little progress, Milwaukee begins new approach to improve lives of Black men and boys - madison365.com - January 18th, 2024 [January 18th, 2024]
- Women are bored of waiting: Slow progress on shattering the glass ceiling on company boards - I by IMD - I by IMD - January 18th, 2024 [January 18th, 2024]
- Now Accepting Applications for the 2024 Progress Software Mary Szkely Scholarship for Women in STEM - GlobeNewswire - January 18th, 2024 [January 18th, 2024]
- "Some progress made" at Onslow BOE meeting, according to number of parents - WCTI12.com - January 18th, 2024 [January 18th, 2024]
- Spokane County crews make great progress ahead of another storm system - Nonstop Local - January 18th, 2024 [January 18th, 2024]
- DeSantis took credit for Florida's progress but Iowa may have sniffed out his bravado | Opinion - Yahoo News Canada - January 18th, 2024 [January 18th, 2024]
- Has the Israeli Military Made Progress in Its Goal of Destroying Hamas? : State of the World from NPR - NPR - January 18th, 2024 [January 18th, 2024]
- Jan. 19 Panel Examines 30-Year Progress of Women in Research - Mirage News - January 18th, 2024 [January 18th, 2024]
- Ducks' Midseason Check-in: Progress, Improvement Areas & More - The Hockey Writers - January 18th, 2024 [January 18th, 2024]
- Companies are hiding their climate progress. A new report explains why. - Grist - January 18th, 2024 [January 18th, 2024]
- Lou Leonatti With Progress Mexico Gives Hospital Bankruptcy Hearing Update On AM 1340 KXEO Am I Awake Morning Show - KXEO - January 18th, 2024 [January 18th, 2024]
- Seaside Heights Wants to See Progress From Developers, Will Investigate 'Bamboo' Property - Shorebeat - January 18th, 2024 [January 18th, 2024]
- Progress over perfection: Is Coach modelling a path for fashion transformation? - Vogue Business - January 18th, 2024 [January 18th, 2024]
- Watch the video of the Edmonds armed robbery in progress - MyNorthwest - January 18th, 2024 [January 18th, 2024]
- Albemarle County house burns to the ground in late night fire - The Daily Progress - January 18th, 2024 [January 18th, 2024]
- GHDDI and Microsoft Research use AI technology to achieve significant progress in discovering new drugs to treat ... - Microsoft - January 18th, 2024 [January 18th, 2024]
- Henderson County Suspects Apprehended in Trenton Lexington Progress - lexingtonprogress.com - January 18th, 2024 [January 18th, 2024]
- HCFD Reports Lowest Number of Residential Fires - lexingtonprogress.com - January 18th, 2024 [January 18th, 2024]
- Unlocking The Future: CAGA's Progress In Web3 And Blockchain Innovation - Benzinga - January 18th, 2024 [January 18th, 2024]
- Underwhelming performance: Quarterbacks still a work in progress - Daily O'Collegian - September 3rd, 2023 [September 3rd, 2023]
- Governor Hochul Announces Progress in Increasing MTA Accessibility - ny.gov - September 3rd, 2023 [September 3rd, 2023]
- A progress report: The columnist's garden in September - Kennebec Journal and Morning Sentinel - September 3rd, 2023 [September 3rd, 2023]
- September 2023: Innovative researchers celebrate scientific ... - Environmental Factor Newsletter - September 3rd, 2023 [September 3rd, 2023]
- Progress over perfectionism - Lynn University - September 3rd, 2023 [September 3rd, 2023]
- Signs of progress on new Folsom Medical Office Building - UC Davis Health - September 3rd, 2023 [September 3rd, 2023]
- LA District FUDS team makes progress on Nellis Remedial Action ... - spl.usace.army.mil - September 3rd, 2023 [September 3rd, 2023]
- UFC Fight Night 226 winner Volkan Oezdemir pleased with progress after training with Khamzat Chimaev - Yahoo Sports - September 3rd, 2023 [September 3rd, 2023]
- Seeing signs of progress, Tigers take on White Sox - Deadspin - September 3rd, 2023 [September 3rd, 2023]
- Qualifications recognition: A door to collective progress - University World News - September 3rd, 2023 [September 3rd, 2023]
- Farm Progress Show opens on Tuesday in Decatur - Herald & Review - September 3rd, 2023 [September 3rd, 2023]
- General Squier sculpture is in progress - The County Press - Thecountypress - September 3rd, 2023 [September 3rd, 2023]
- Antimalarial drug discovery: progress and approaches - Nature.com - September 3rd, 2023 [September 3rd, 2023]
- Seeing signs of progress, Tigers take on White Sox - The Albany Herald - September 3rd, 2023 [September 3rd, 2023]
- Commentary: Nurturing progress The evolution of the Annie ... - Standard-Examiner - September 3rd, 2023 [September 3rd, 2023]
- World Cup kiss: feminist progress is always met with backlash, but ... - The Conversation - September 3rd, 2023 [September 3rd, 2023]
- Mapping Progress in Pancreatic Cancer Surgery: Looking to the ... - OncLive - September 1st, 2023 [September 1st, 2023]
- Review in progress: 'Starfield' takes the 'Skyrim' formula out into the ... - GeekWire - September 1st, 2023 [September 1st, 2023]
- Falmouth Water Quality Committee Making Progress On Ocean Outfall - CapeNews.net - September 1st, 2023 [September 1st, 2023]
- Youngstown schools, teachers make progress on negotiations ... - Youngstown Vindicator - September 1st, 2023 [September 1st, 2023]