LAS VEGAS—With the annual CES tech trade show underway, 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. But the CTA has also updated its “How Proposed Trump Tariffs Increase Prices for Consumer Technology Products” report to indicate that tariffs on technology products could lead to a $90 billion to $143 billion decline in U.S. consumer purchasing power.
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According to the CTA, purchases of laptops and tablets could decline by as much as 68%, consumption of gaming consoles could fall off by as much as 58% and consumption of smartphones could drop by up to 37%.
“The tech sector is America’s economic engine, driving global innovation and job creation,” CTA CEO Gary Shapiro said. “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 prioritize an Innovation Agenda that fosters growth.”
