Table of Contents

Consumer Tech industry Trends in 2024

Introduction

Dive into the trends shaping consumer tech in 2024! From the surging adoption of smart home technology to the revolutionary integration of Artificial Intelligence in gaming and the remarkable tech-savviness among seniors, this exploration unveils the dynamic landscape of today’s technology.

Increasing Adoption of Smart Home Technology

Market value of global smart homes market from 2022 to 2032 in billion U.S.D.

In 2024, the adoption of smart home technology is experiencing a remarkable surge, driven by the continuous growth of the Global Smart Homes Market. Valued at USD 113.5 Billion in 2022, this market is projected to reach USD 503.1 Billion between 2023 and 2032, with an anticipated CAGR of 16.8%.

The pervasive trend of incorporating advanced technology into home appliances, coupled with the increasing use of the internet of things and smartphones globally, is fostering this unprecedented rise. Smart homes, equipped with wireless technology, enable users to control and monitor various appliances remotely through smartphones, offering unparalleled convenience.

As the smart homes market continues to evolve, the integration of artificial intelligence, changing lifestyles, and the growing popularity of digital assistants like Siri, Alexa and Cortana contribute to the burgeoning demand for smart home appliances, creating a paradigm shift in modern living.

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Artificial Intelligence (AI) in Gaming

In 2024, the gaming landscape is witnessing a revolutionary shift with the top trend being the integration of Artificial Intelligence (AI), elevating players’ gaming experiences. AI in gaming goes beyond traditional gameplay, where players collaborate with AI agents, transforming non-player characters (NPCs) into dynamic entities that adapt their behavior based on human players’ actions. This trend enhances the variety of interactions within the gaming environment, providing players with a more immersive and responsive gaming experience.

Simultaneously, the market is being driven by the rising demand for advanced wireless and 3D gaming consoles with 4K resolutions capabilities. Key players, including Sony Corporation, are leveraging advanced wireless technologies like Bluetooth 5.0 and Wi-Fi to deliver enriched gaming experiences, eliminating the need for wired accessories. The surge in popularity of 3D gaming, supported by features such as precise 3-D localization, is contributing to the overall growth of the gaming console market. Notably, major players like Microsoft Corporation and Sony Corporation have launched 3D game consoles compatible only with 3D games featuring 4K resolutions, marking a significant advancement in the gaming industry.

Increased Adoption of Technology Among Seniors

Senior citizens are increasingly embracing technology, reflecting a transformative trend in their adoption patterns over the past decade. Traditionally led by younger adults in digital innovation, the gap between those under 30 and those aged 65 and older is now narrowing.

Notably, smartphone ownership among seniors has surged to 61%, marking a 35% point increase from a decade ago and significantly reducing the gap from 53% to 35%. Social media use, especially among those 65 and older, has experienced a fourfold increase since 2010, growing from 11% to 45%.

Additionally, internet use among seniors has risen to 75%, effectively narrowing the gap with younger age groups from 56% to 24%. Seniors are actively engaging with platforms like YouTube, showcasing a dynamic trend toward greater technology adoption in this demographic.

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Augmented Reality (AR)

Augmented Reality (AR) is poised to become a staple in the consumer tech industry, as evidenced by the collaboration between Facebook and Ray-Ban to launch a new generation of AR glasses. These glasses offer improved audio and cameras, with over 150 customizable frame and lens combinations. Users can now seamlessly livestream from the glasses to Facebook or Instagram and engage with Meta AI using voice commands like “Hey Meta.” Although AR has faced accessibility challenges due to high costs and spatial requirements, innovations like these AR glasses are breaking down barriers, ensuring the continued presence and relevance of AR in the consumer tech landscape.

Conclusion

As we wrap up our exploration of consumer tech trends in 2024, it’s evident that innovation is steering us toward a dynamic future. From the widespread adoption of smart home technology to the transformative integration of Artificial Intelligence in gaming and the remarkable tech-savviness among seniors, these trends collectively reflect the evolving landscape of technology. This journey into the consumer tech realm unveils a world where convenience, immersion, and connectivity converge, inviting us to continually embrace and adapt to the limitless possibilities that technology has in store for us.

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