From IoT to IoT… Wait What? Upcoming Consumer Electronic Trends

CES (Consumer Electronics Show) 2020 happened last week, and it unveiled trends to watch in the upcoming years. One thing is for sure—the resounding shift is now not just based in the Internet of Things, but in the Intelligence of Things, as smart products become more prominent. Will we be overrun with flying cars?! Will our toaster ovens auto-detect a pop tart from across the kitchen? Will phones come with integrated health screening capabilities? Maybe. 

For now, let’s take a look at some of the trends to watch for over the next several years according to Consumer Technology Association (CTA): 

5G 
One of the major topics circulating CES 2020 was 5G phones. With 50 5G networks globally, the shipment of 5G phones is expected to increase significantly over the next few years, with enterprise applications leading the way. You can also read more about what to expect with 5G in our article, 5 Things to Keep in Mind When it Comes to 5G.

Cloud-Based Gaming 
It’s no secret that much of the video game platform revolves around live streaming, but now we can also expect to see video games operating in services that will negate the need for hardware. So, the $100 billion-plus industry will no longer be defined by the latest consoles or PCs, but rather by a wide platform of options.

Mixed Reality 
Remember the Star Trek Holodeck? Well, augmented reality glasses are approaching mainstream, showing that the makings of science fiction are inching closer and closer to becoming science reality. And with more enterprise applications catching on and technology development, we may be on the verge of seeing augmented reality dreams come true everywhere. *Insert Vulcan Salute*

What once seemed like a technology future far, far away is now on the verge of realization—and while the promise of electronic advancement shows a robust growth opportunity, where something new enters, its outdated and previous version remains. Whether it’s a new cell phone, new VR glasses or a new video game streaming service that does away with the need for hardware, giving outdated products a second life through a secondary market channel is imperative to the expansion of new, innovative products. 

For larger manufacturers and established retailers that continuously innovate and move on to the next big thing, a secondary channel for trade-in, returned or obsolete products is key. One of these channels is a B2B online auction marketplace that allows retailers and OEMs to sell directly to a large network of vetted resellers. This type of solution is the best option to 1) increase velocity, 2)  sell at the highest market value, and 3) ensure a sustainable disposition channel for your products.

Want to learn more about B-Stock’s B2B marketplace solution for returned and excess consumer electronics? Check out our recent Live Video Chat: Consumer Electronics Secondary Market Insights. And if you’re ready for a customized solution, request a demo.