The CES 2024 event in Las Vegas was a dazzling display of the future, showcasing a plethora of innovations and experimental technologies that promise an interconnected future. The consumer tech industry has seen a significant transformation over the past three years, with technologies like the Internet of Things (IoT), Virtual Reality (VR), Augmented Reality (AR), and Artificial Intelligence (AI) leading the charge. This shift towards premium products and a connected world highlights several trends that are expected to define the consumer electronics landscape in 2024.

One notable trend is the democratization of consumer technology, leading to a surge in demand for premium products. India, one of the world's fastest-growing economies, is at the forefront of this demand. The Indian Institute of Management Ahmedabad (IIMA) found that online shopping in Tier 2 to Tier 4 cities has increased by 77 percent compared to Tier 1 cities, driven by cashback offers, attractive exchange schemes, and easy EMI options. The pandemic has further accelerated the adoption of online shopping platforms, making them a crucial part of the tech purchasing journey.

AI is set to play a pivotal role in 2024, moving beyond optimization to drive personalization and customization in consumer technology. AI is making its way into smart home devices and audio products, enhancing user experiences by analyzing ambient noise levels and adjusting sound quality automatically.

The Internet of Things (IoT) is also advancing, with everyday objects becoming smarter and more interconnected. This trend is expected to revolutionize how we live, work, and play, with smart homes, wearable devices, and machine-to-machine communication becoming more prevalent.

The gaming industry in India is projected to be worth $3.49 billion in 2024, with a shift towards high-end gaming PCs and accessories. This shift is supported by easy financing schemes and the demand for higher-end graphics and gameplay experiences. Wearables are becoming more than just fashion accessories, evolving into standalone devices that offer valuable health insights and real-time monitoring.

In conclusion, the Indian consumer electronics market is moving beyond budget-oriented devices, with consumers increasingly turning to online platforms for premium technology products. This trend is supported by the availability of affordability options, allowing consumers across various cities to invest in top-tier technology products that meet their preferences and needs.

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