• by Sarah Mahoney  @mahoney_sarah, January 5, 2024

L'Oréal

CES 2024 is here, drawing the usual collection of disruptors, imitators and spectators, all trying to turn next-generation tech into consumer-friendly solutions.

At 2.5 million square feet, the industry show is bigger, up 15% from last year, spreading into two new venues. About 4,000 exhibitors will be on hand, representing 60% of the Fortune 500. The Consumer Technology Association, which runs the trade show, has gotten over 3,000 entries for the group’s Innovation Awards and booked more than 1,000 speakers.

Even those of us watching from afar have to admit that while CES is a circus, it’s also a big deal.

CTA’s new forecast projects retail revenues for the U.S. consumer technology industry will grow 2.8% this year to $512 billion. The gains are due to increased consumer spending on technology products and services.

 “Despite inflation in most sectors of the U.S. economy, it’s noteworthy that consumer tech products like TVs, smartphones, and gaming hardware are being bought at lower prices by consumers,” says Richard Kowalski, CTA’s senior director of business intelligence, in the release. “Technology by nature is deflationary as innovation leads industries to find newer, more efficient ways to compete. Looking ahead to 2024, I expect developments in artificial intelligence will accelerate growth for consumer and enterprise technology companies as they become more efficient and find more ways to meet consumer needs.”

The trade group predicts that the show’s top themes will be artificial intelligence, human security, mobility, and sustainability.

Attendees are expected to queue up to hear featured speakers, including such chief executive officers as L'Oréal’s Nicolas Hieronimus, Snap’s Evan Spiegel, HD Hyundai’s Kisun Chung and Best Buy’s Corie Barry.

Celebs will be there to rub elbows as well, including Robert Downey Jr., Howie Mandel, Mark Cuban, Ludacris and Wu-Tang Clan.

Athlete A-listers are expected to include Blake Griffin, former NBA player for the Boston Celtics, and Ryan Kalil, television producer and former NFL player for the Carolina Panthers.

“We expect this week-long event to be filled with major advancements across the entire AI ecosystem ranging from software to hardware, branching into the automotive space in an AI Arms Race kicking off for 2024,” writes Daniel Ives, an analyst who follows disruptive technology for Wedbush.

And while previous shows have focused on fringe (and often amusing) tech, like robots doing dishes and live-streaming ovens, “AI is a mainstream technology wave is unlike anything we have seen since the Internet in 1995.” As a result, he expects tech stalwarts to show off AI-infused products. He points to Intel as an example, promoting AI PCs with partners Dell Technologies, HP, Lenovo and Microsoft.

Health innovations are also likely to be center stage as companies continue to look for ways to lower costs, improve health equity and empower consumers.