Announced at the CES 2025 Tech Trends to Watch, the Consumer Technology Association (CTA) projects record retail revenues as the U.S. consumer technology industry grows 3.2% over 2024 to $537 billion in 2025.
This signals growth in consumer spending on tech products and services, according to CTA’s U.S. Consumer Technology One-Year Industry Forecast.
Meanwhile, updated CTA research shows the tech products consumers love and rely upon, including smartphones and laptops, are threatened by President-elect Trump’s tariff proposals. CTA’s updated report: ‘How Proposed Trump Tariffs Increase Prices for Consumer Technology Products’ shows:
- Tariffs on technology products could lead to a $90-143 billion decline in U.S. consumer purchasing power
- Purchases of laptops and tablets could decline by as much as 68%, consumption of gaming consoles could decline by as much as 58% and consumption of smartphones could decline by up to 37%
“The tech sector is America’s economic engine, driving global innovation and job creation,” said CTA CEO Gary Shapiro. “Our positive forecast reflects the industry’s strength, but proposed tariffs threaten the deflationary power of tech in the global economy. Tariffs are a tax on American businesses and consumers. We urge the incoming administration and Congress to prioritise an Innovation Agenda that fosters growth.”
“The incoming administration must address how tariffs impact American businesses and consumers,” said CTA Vice President of Trade Ed Brzytwa. “Retaliation from our trading partners raises costs, disrupts supply chains, and hurts the competitiveness of U.S. industries. U.S. trade policy should protect consumers and help American businesses succeed globally.”
