Consumer technology markets are holding up far better than many other sectors during the COVID-19 crisis. Although supply chain shortages and the economic uncertainty that has arisen as a result of the pandemic mean full-year sales of hardware and devices for 2020 will be lower than would have been the case otherwise, service providers will be fairly resilient, while digital goods will have benefitted from people being confined to their homes, looking for ways to stay entertained and connected.
Although a recovery is expected in 2021, consumers will remain cautious in their spending habits, which will see big-ticket hardware purchases remain on hold for many. On a broader level, however, people will have become more reliant on technology than ever before as a result of the crisis, standing many categories in good stead for a rapid return to growth.
The role that technology has played in many aspects of people’s lives during the worst of the crisis will likely see a subtle but significant shift in attitudes towards technology in the longer term, and technology companies that have demonstrated that they can behave responsibly and play a positive part in helping people through the crisis will emerge with significant goodwill.
Key issues covered in this Report
The impact of COVID-19 on consumers.
How COVID-19 has already affected consumer technology markets.
The shift in consumer behaviours in consumer technology in the short, medium and long term.
Lessons from the last economic recession.
Lessons from other markets outside the UK.
Products covered in this Report
This report covers the market for consumer technology, including hardware and devices, digital goods and service providers.
Definitions used for the category forecasts:
Service providers include mobile network providers, internet, fixed voice and pay-TV.
Hardware and devices include televisions, games consoles, mobile phones, desktops, laptops and tablets, smartwatches and fitness trackers/sports watches, VR headsets and other consumer technology devices.
Digital goods include software, games and mobile apps.
