Services and applications, leading the Tech market

While consumers renew their electronic equipment less and less quickly, it is in dematerialized software and services that the money is generated.

According to the CTA -Consumer Technology Association-, software and services represent 31% (i.e. 151 billion dollars) of the consumer technology market in the USA in 2023. A growing result, in particular thanks to the expansion of the 'offers services by subscription.

The word to Rick Kowalski of the CTA

These services include video game platforms, video streaming, fitness, home security, and also new offerings such as “digital health” (Digital Therapeutics) which is experiencing the greatest growth of all services. "The rise of Digital Therapeutics, gaming and streaming offerings is adding vitality and choice to the consumer technology industry, providing on-the-go entertainment and the ability to manage your health," said Rick Kowalski of the CTA. Hardware is still important, but services are an essential part of the customer experience. They expand the possibilities of what we can do with our devices and shape the future of entertainment.”