Consumer Technology: Trends and Startups 2019
Next Global Tech 50
We have prepared a series of research reports on the new generation of companies across several sectors around the globe. Our coverage includes 11 industries that have been affected the most by cutting-edge technology and are likely to shape the international economic landscape of tomorrow. This series is to be presented during the World Innovators Meet 2019, an annual event that gathers global leaders from a variety of fields at the heart of Beijing.
This report features the key trends in the consumer technology industry and presents 50 startups that have shown their tremendous capabilities and their potential to disrupt the industry. Key highlights from our study are presented below.
- It is estimated that the market size of the consumer technology will increase from USD 87 billion in 2018 to USD 204 billion in 2022, with a Compounded Annual Growth Rate (CAGR) of 23.4%.
- Wearable technology, which shows the best performance, is projected to grow by 177% between 2018 and 2022, reaching USD 73.3 billion.
- Investment injected into the consumer technology industry is showing a positive outlook, almost tripling from USD 5.3 billion in 2015 to USD 13.9 billion in 2019.
- With most startups in this industry developing a certain type of smart home devices, it is crucial for these firms to be part of a broader ecosystem, such as Apple Homekit and Amazon Alexa, to establish themselves as leaders in the nascent smart home market
- Brain-Machine Interface (BMI) has diversified applications and is capable of revolutionizing the consumer technology industry. In recent years, many firms that employ BMI have appeared and are expected to accelerate in the near future.
50 startups defining the future
The Next Global Tech 50: With the current soaring trend in virtual and augmented reality, the evolution of autonomous machinery, and smart devices infiltrating every aspect of our lives, we believe that the consumer technology industry is very promising.
In this report, EqualOcean chose 50 most prominent consumer technology companies that are worth investing in. It is noted that the report only considers startup companies founded no earlier than 2010, and has completed Series B and Series C round of financing within the past 12 months. Companies that employ high-tech devices to deliver their services are not considered as consumer technology. Based on these criteria, we have managed to categorize the consumer technology industry into 4 main verticals, which include wearables, smart homes, home appliances and sports technology.