FMI states in its recent study on the Consumer-electronicsmarket that the market will record a CAGR of 5.6% through 2031. Demand is anticipated to increase due to the availability of devices stimulating automation of daily chores. The Consumer Technology Association (CTA) is predicting 2021 to be another record year for the U.S. tech industry. In its latest bi-annual industry forecast, the CTA upgraded its sales forecast from earlier this year to $487 billion, a 7.5 percent jump from an already record-breaking 2020.
