CTA Expects Smartphone Unit Sales to Rise 4% in 2021
Smartphone shipments will increase 4% to 161 million units this year, for $73 billion, a 5% dollar-value increase after a year of “slight declines,” CTA reported Monday. Over 67 million 5G smartphones are expected to ship, with 298% growth over…
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last year as the technology continues to build out. 5G revenue is projected at $39 billion, up 218%, as consumer awareness grows and network coverage expands. U.S. retail tech industry sales revenue will reach $461 billion in 2021, up 4.3%, CTA said, noting the pandemic will continue to keep Americans at home using tech to stay connected and entertained. “While the road to a full economic recovery is long and intertwined with a complex vaccine rollout, the tech industry’s ability to meet the moment during this crisis has been critical,” said CTA CEO Gary Shapiro. Spending on streaming services and software is projected to grow 11%, to $112 billion, after 2019-20 growth of 31%. Exclusive content and cord cutting are driving households to take on multiple subscriptions. Video spending is seen rising 15% to $41 billion in 2021, and audio revenue for the year is estimated at $10 billion, rising 19% from last year. In gaming, spending on videogame software is projected to reach $47 billion in 2021, up 8%.