The premier CES trade show for consumer electronics in Las Vegas is expecting more than 100,000 people to gather momentum after two years of the pandemic that is irritating real-world gatherings
Robyn Beck
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The annual CES concert electronics extravaganza opens in Las Vegas on Thursday as the industry looks at the latest innovations designed to help ease the pain of an ailing global economy.
High inflation, ongoing supply chain problems and tech company layoffs provide a dark background for the leading tech show, which is expected to draw more than 100,000 attendees from around the world through Sunday.
Steve Koenig, research director of the Consumer Technology Association, reminded CES attendees of past innovations from smartphones to high-speed internet that thrived after the “last great economic downturn” more than a decade ago.
“This time around, I think the powerful new waves of technological change that will really counter inflation and restore global GDP growth will come from the corporate side,” Koenig said during a presentation by the CTA, which chairs CES.
These include robotics to make workplaces more efficient; virtual reality in the workplace and automated vehicles such as tractors that work farmland with no driver on board, according to Koenig.
Technology, thanks to increased productivity, is “a deflationary force in the global economy,” said Gary Shapiro, CTA President and CEO.
Stretching from the Las Vegas Convention Center to ballrooms in a number of hotels on the famous Sin City Strip, CES will be outfitted with TVs, electric roller skates, self-steering strollers and more to keep show-goers entertained.
While major TV makers like LG, Samsung, and TCL will have stunning displays, “gone are the days” when CES was primarily about TVs, laptops, and gadgets, according to Forrester Principal Analyst Thomas Husson.
Samsung Electronics’ bespoke home appliances, unveiled at CES in Las Vegas, are part of a trend towards home appliances designed to be more collaborative and independent to make life easier
Patrick T Fallon
“Now that technological innovations and software are embedded everywhere, many brands can showcase innovations around electric vehicles, robotics and embedded artificial intelligence,” said Husson.
“Don’t get me wrong, there’s no doubt we’ll continue to see a lot of robotic toys and gadgets.”
But CES has increasingly become a place to showcase electric cars (EVs) that are becoming internet-connected computers on wheels, analysts pointed out.
“Beyond electric vehicles, recent US legislation such as the Inflation Reduction Act (IRA) will generate more interest in sustainability innovations,” Husson said.
This was a reference to the US government’s recently passed IRA, which is expected to pour hundreds of billions of dollars into green tech and other climate-friendly projects.
“This is definitely the area where the most disruptive innovation can be expected – although I fear under-announced (at CES).”
While CES organizers say attendance at the show is “another step towards a return to normal pre-pandemic levels,” there is an ongoing Covid effect.
A big-screen TV with full wireless connectivity was part of a lineup demonstrated by South Korea-based LG at the CES consumer electronics show in Las Vegas
Patrick T Fallon
CES, like many other trade shows, went entirely virtual in 2021 and over the past year, the real world mixed with online events that drew a light audience to Las Vegas.
TV and device makers and startups at the forefront of artificial intelligence have returned to CES in this launch, with Meta letting people try out its latest virtual reality gear and Google showcasing its own smart home offerings.
South Korean giant Samsung unveiled a new range of televisions, along with kitchen appliances equipped with artificial intelligence to work with other connected devices and online platforms.
LG Electronics introduced an OLED TV, which it touted as the first wireless and voice-controlled TV for the consumer market.
“The M3 comes with a separate Zero Connect box that wirelessly sends video and audio signals to LG’s cinematic 97-inch screen,” the company said.
Amid the economic gloom, companies at CES looking to woo consumers need to make sure prices appeal to people struggling with inflation and perhaps a little tired of living online during the pandemic.
The CTA estimates spending on consumer electronics and services in the United States will fall to $485 billion this year, down from a record $512 billion in 2021.
Although “the looming recession and inflation will weigh on household budgets,” the tech industry’s revenues are likely to remain above pre-pandemic numbers, according to the association.
Many tech companies have thrived during the pandemic and are hiring in droves. As lifestyles returned to normal, these companies began laying off employees and cutting budgets.
But Koenig said economic conditions were masking an ongoing shortage of skilled workers.
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