CES 2023: Electric Vehicles, Augmented Reality, Web3 In Focus

Everything from hearing aids to marine products — plus the usual suspects like smart televisions, electric vehicles and digital health devices — will be on display at a rejuvenated CES 2023 technology trade show, set to kick off Tuesday in Las Vegas.

This year, tech’s biggest U.S. expo is attracting not only Silicon Valley, but a wide cross-section of industries that are treading into tech waters. Originally known as the Consumer Electronics Show, it still showcases the latest audio and video products and personal electronics. Now it has expanded into a broad-themed technology conference, including automotive, commercial and industrial businesses.

Such companies as boat maker Brunswick (BC) and construction equipment giant Caterpillar (CAT) will be on tap. And alongside a keynote presentation from chipmaker Advanced Micro Devices (AMD), others climbing to the podium include top executives from farm equipment giant John Deere (DE), and automakers BMW (BMWYY) and Stellantis (STLA).

“The show is very big, and people walk away with different impressions,” said Gary Shapiro, chief executive of the Consumer Technology Association, the trade group that runs CES. Those impressions are based on each attendee’s areas of interest, he told Investor’s Business Daily.

Since CES gets people thinking about the year ahead, executives at the show also are likely to discuss the economy and the possibility of a recession, Shapiro said.

More Exhibitors, More Attendees

A critical event in the tech sector’s schedule, CES is expected to set the tone for the industry for 2023. The show officially runs Jan. 5-8, but kicks off Tuesday in Las Vegas with preshow media events.

More businesses are appearing at the show, and a much larger attendance is expected as the effects of Covid continue to wither. More than 3,100 exhibitors have signed up for CES 2023 vs. 2,279 at the last show. And organizers expect more than 100,000 attendees, up from 44,400 at the Covid-impacted 2022 expo.

Further, CES 2023 will see the return of many traditional tech industry exhibitors who canceled plans to attend the 2022 show because of the omicron wave of the Covid pandemic. Those companies include Alphabet‘s (GOOGL) Google and Waymo units, Amazon (AMZN), Facebook parent Meta Platforms (META) and Microsoft (MSFT).

Hot topics at the show will be electric vehicles, augmented reality and digital health. Also part of the agenda is Web3, which includes next-generation internet technologies such as blockchain, cryptocurrencies, the metaverse and non-fungible tokens, or NFTs.

CES 2023 Has Become Important Auto Show

One key element of CES 2023 will be major automakers and numerous component suppliers. Plus, there will be makers of electric-vehicle charging stations, such as Blink Charging (BLNK). Also, a host of “micro-mobility” tech firms will show off electric bikes and scooters.

“It really has become one of the most important auto shows in the world,” Shawn DuBravac, president of consulting firm Avrio Institute, told IBD. “In transportation, CES has done a great job of capturing the entire ecosystem.”

Among the automotive component suppliers are a raft of companies that provide sensors for advanced driver-assistance systems and self-driving cars. They include makers of lidar, radar and camera vision systems.

Along with that, there are semiconductors, sensors, displays, batteries, artificial intelligence and other “ingredient” technologies.

“It’s becoming more of a B2B (business-to-business) show,” Marge Costello, editor and publisher of Consumer Electronics Online News, told IBD. “You’ll see tech that enables consumer products.”

Metaverse Continues To Draw Interest

Meanwhile, the metaverse was a breakout buzzword at last year’s show and should continue to be a major theme at CES 2023, DuBravac said.

“Metaverse was one of the big surprises at last year’s CES,” he said. “It ended up being a much stronger theme than many anticipated. This year we’re getting greater visibility into that trend.”

The metaverse is an emerging next-generation version of the internet where 3D virtual worlds replace static websites. Facebook’s rebranding as Meta in late 2021 spurred interest in the concept.

CES 2023 also will see a variety of vendors showing off their latest virtual-reality headsets to experience versions of the metaverse. They include Meta, Sony (SONY) and HTC.

Meanwhile, other companies will be showing off augmented-reality headsets ahead of an expected launch of a mixed-reality headset by Apple (AAPL) in 2023. Mixed reality combines elements of augmented and virtual reality. Companies showing AR headsets and enabling technology at CES 2023 include Magic Leap, Qualcomm (QCOM) and Vuzix (VUZI).

CES 2023: Over-The-Counter Hearing Aids Arrive

A hot new category at the show will be over-the-counter hearing aids, Costello said. Consumer electronics firms now are able to offer hearing aids at much lower prices than traditional medical devices, she said.

Last August, the U.S. Food and Drug Administration authorized the sale of over-the-counter hearing aids for people with perceived mild to moderate hearing impairment. Consumers can purchase the hearing aids directly from stores or online retailers without the need for a medical exam, prescription or a fitting adjustment by an audiologist. The rule took effect in mid-October.

Earbud makers like Jabra and Sony have jumped into the over-the-counter hearing aid market, along with companies like Eargo (EAR) and Nuheara.

CES 2023 will see numerous companies touting smart home devices that use the Matter connectivity standard. Expect to hear about smart lights, locks, security cameras and other gadgets that use Matter. Backers say Matter will make it easier for devices from different manufacturers to interoperate.

And as usual, CES 2023 will highlight bigger, brighter and smarter televisions from the likes of Hisense, LG, Samsung, Sony and TCL. There also will be the latest personal computers, headphones, soundbars, wearables, video game gear, home appliances and other consumer devices.

Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.

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