Unlock the potential of US Tech Trends with our comprehensive report. Our analysis examines consumer attitudes towards the impacts of inflation, AI, and new forms of tech-based entertainment. You’ll gain invaluable insight into the technology market size in the US, as well as market projections, segmentation, and the latest tech market trends for 2023. With our extensive tech trends market report, you can gain a better understanding of how to respond to changing consumer demands and take advantage of new opportunities to stay ahead of your competition.
Consumer markets have faced an unprecedented level of turmoil in recent years, from the massive economic disruption in 2020 from COVID-19 to 40-year highs in inflation in 2022. Real GDP (the inflation-adjusted measure of GDP) increased at an annualized rate of 2.9% in Q3 2022 – the first in which the US experienced positive growth in 2022, following two quarters of decline. However, consumer sentiment remains near historic lows, with rising interest rates, stubborn inflation, as well as volatile financial markets continuing to erode households’ confidence. With wage growth stalling, consumers exhausting their savings, soaring credit card debt, and stubbornly high inflation – all signs point to reduced spending heading into next year.
Digital technology is at the beginning stages of a watershed moment – AI’s introduction to the consumer market. The impact from just text-to-text operations, most notably ChatGPT, will be profound, not only in how it’s going to shape behavior but also in the data demands necessary to power it.
Read on to discover more about the Tech Trends consumer market, read our Social Commerce – US – 2023 report, or take a look at our other Technology and Telecoms Market research reports.
Leading brands in the consumer tech market: Matter, Google, Amazon, ChatGPT, OpenAI, Dall-e, TikTok.
This report, written by Jenni Nelson, a leading analyst in the Technology and Media sector, delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
Pandemic era growth has slowed, and as consumers contend with record inflation, they will delay new tech purchases as long as their current devices meet their needs. In communication services, subscribers are looking for deals and will consider the value that current subscriptions provide; 2023 may see some consumers trimming back on entertainment and looking to unbundle. Interest in the metaverse lingers, but consumer attention has shifted to generative AI. 2023 will be devoted to AI literacy, followed by fundamental change in how consumers use the internet.
Jenni Nelson
Analyst, Tech, Media and Entertainment
Mintel is the world’s leading market intelligence agency. We show you how consumers think today and tomorrow. As a trusted partner to industry leaders, we deliver game-changing insights to businesses across the globe, fuelling their marketing and innovation strategies that will shape the future.
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