CES Predicts Tech Sales to Fall by 2% Around the Globe

Sales of global technology are predicted to drop to $950 billion in 2016, which represents a drop of 2%. This came from organizers of the annual tech show CES held in Las Vegas that opened on Monday.

The consumer electronics show held two events on Monday that outlined the major trends across the industry and the forecast economically for the same.

The organization running the event expects sales in the virtual reality category to reach $540 million across the U.S. during 2016, which would be a 440% increase from 2015.

It is also predicted that the sale of drones will reach nearly $953 million would means they will more than double.

Revenue is expected to reach over $10.7 billion for the ultra high definition 4K television, which would be an increase of over 65%.

Categories that are more established are expected to see growth as well, but much less. For example, revenue in the U.S. from smarpthones is expected to be up 4% while the sales of laptops should increase by 3%.

Although 51% of all revenue across the industry comes via sales of television, desktops, laptops, tablets and smartphones, this year that group will fall below the 50% mark while other nascent categories will increase.

Over 20,000 new products are to be showcased at this event that will have more than 150,000 people attending during the week. The tech on display will include appliances, mobile devices, fitness trackers, electric cars, audio systems, and even smart clothing while boxing gloves even have a sensor embedded in them to kept track of punches thrown.

Those that attend will see that there are more partnerships between the tech companies. For instance, a dishwasher that is Internet connected and uses a sensor data from a thermostat that is Wi-Fi enabled to program the wash cycles when the prices of energy are at their lowest.

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