CTA Projects Record Revenues for OLED TVs, VR in 2017

VR technology, OLED (organic light-emitting diodes) TVs and drones are all projected to surpass the $1 billion revenue figure for the first time in 2017. That is according to the Consumer Technology Association, which released its semi-annual "U.S. Consumer Technology Sales and Forecasts" report.

The CTA estimates that technology revenue growth will be 3.2% in 2017, $321 billion of that retail and $251 billion wholesale.

Sales of connected devices are projected to reach a record 635 million units, up 6% over 2016. Among those, 4K ultra hi-def TVs, one of the fastest-growing segments, are projected to hit 16.7 million units, a whopping 59% increase over 2016 and generating $14.6 billion in sales (a 45% increase).

VR is projected to increase by 79% to $1.3 billion in sales, a 43% increase.

"More and more consumers are adopting connected products at a rapid pace, with several categories such as drones, VR and OLED TVs surpassing significant revenue milestones just a few years since their market entry," said Steve Koenig, senior director of market research for CTA, in a statement. "At the same time, core categories, such as smartphones and laptops, continue to experience unit and revenue growth."

John Eggerton

Contributing editor John Eggerton has been an editor and/or writer on media regulation, legislation and policy for over four decades, including covering the FCC, FTC, Congress, the major media trade associations, and the federal courts. In addition to Multichannel News and Broadcasting + Cable, his work has appeared in Radio World, TV Technology, TV Fax, This Week in Consumer Electronics, Variety and the Encyclopedia Britannica.