Consumer tech looks to also have a rough time coming – the Consumer Technology Association is predicting a 2.2% revenue decline in 2020 across hardware and services. The organization is also predicting a one to two year crisis “from here on. Unemployment will be high, and consumer spending will be lower as a result of it.” The organization is also expecting businesses to pull back on computing.
Why do we care?
I do not consider myself a doomsayer or a negative guy. Instead, I’m a realist, and continued data shows rough times ahead.
I’m also inclined to think that smaller businesses will be impacted by this more than the data may predict. Many microbusinesses appear as consumers in projections such as this.