What Can Investors Expect to See at CES 2023?

Ahead of this year’s Consumer Electronics Show (CES), an annual tech event organized by the Consumer Technology Association (CTA), we speak with CTA President and CEO Gary Shapiro about what investors can get out of CES this year. Shapiro also shares what the tech industry can expect to see in 2023 amid ongoing global challenges. 

Looking back at 2022, what were the big trends and themes that shaped the tech industry? 

The past year saw technologies continue to transform the global economy in the wake of the pandemic. With hybrid work becoming a permanent fixture, the enterprise tech landscape has fundamentally transformed as businesses conduct their operations across more platforms and devices than ever. Cloud computing, AI, robotics and cybersecurity are now digital utilities – necessities to do business efficiently and securely. 

With consumers now spending more of their time online, we also saw a growing digital economy and more spending on tech services. Video and audio streaming remain popular, and on-demand content has expanded into areas like cloud gaming, fitness and digital health, and even home security.

At the same time, macroeconomic forces like the labor shortage, inflation and chip shortages have created strong headwinds for the tech industry and forced companies to adapt. Many have focused on cost-saving innovations like smart factories and supply chain automation, while also investing in critical areas like software and chip hardware infrastructure. We’re excited to see how innovations from 2022 carry into the year ahead. 

What are you hearing from the tech community about their expectations for 2023? 

After two years of record industry growth, a pandemic and a massive financial stimulus that drove more tech purchases than ever, CTA’s July 2022 Industry Forecast projected a slight decrease in U.S. device shipments for the first time since the recession in 2008. Significant inflation, as well as the end of government subsidies and more options for spending all contributed to fewer tech purchases. More recently, the industry has countered inflation with price drops on products such as smartphones and TV sets.

However, periods of economic stress often help to spur innovation – a good sign for future productivity. Innovation often “bunches up” in times of economic downturn and accelerates as economies recover. In fact, we saw companies like Uber, Credit Karma and Airbnb launch and grow during the Great Recession of 2008.

Innovations in the tech sector can also serve as an important brake on inflation, helping to bring down prices while introducing better quality products and services. Ultimately, the tech industry’s ability to spearhead a strong economic recovery will depend in part on policies that support America’s most successful and innovative companies.

What will be some of top trends and themes at CES 2023? 

At CES 2023, we’ll showcase innovations that are solving the world’s biggest challenges and technology that is improving the lives of millions of people around the globe. We’re also partnering with the United Nations and World Academy of Art and Science to highlight the critical role of technology in advancing the United Nations Human Security for All program. Protecting human securities/human rights is something that we should all be thinking about. Increasingly, the tech community is called upon to play a leadership role in these efforts, and we’ve seen thousands of companies rise to the challenge.

We’re talking about advances that help to ensure adequate access to things like food, clean air, water, healthcare and personal and community safety. Looking at this from a financial markets perspective, the human securities platform syncs up well with Nasdaq’s focus on areas like digital assets (financial security) and carbon markets (environmental security).   

Attendees at CES 2023 can expect to see the latest innovations in a wide range of tech sectors, including fintech, digital health, smart home, automotive and mobility, metaverse, food tech and more. You’ll also see key themes like sustainability in the technology displayed. After major buzz over the past year, we’re introducing a new segment for CES 2023 – Web3/metaverse, covering the hardware and software creating shared, immersive virtual worlds. At CES 2023, you can also find new and unexpected tech like electric and autonomous marine technology. 

What can investors expect to get out of CES 2023? 

CES is a one-of-a-kind opportunity for investors to see what’s now and what’s next in a wide range of consumer technologies and make connections to startup founders and entrepreneurs seeking investment to scale their products. In fact, the average executive has 29 meetings while at the show. At CES 2023, we’ll welcome more than 1000 companies to Eureka Park, our home for startups. That abundance of startups makes CES an excellent place for investors to find the next unicorn, and to date investors have committed more than $10 billion dollars to Eureka Park companies.

This interview originally appeared in our TradeTalks newsletter. Sign up here to access exclusive market analysis by a new industry expert each week. We also spotlight must-see TradeTalks videos from the past week.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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