FROM INNOVATION TO IMPACT: The Economic Impact of the U.S. Consumer Technology Sector
From Innovation to Impact examines how the U.S. consumer technology sector—spanning manufacturing, software, connectivity, cloud, AI, and digital content—functions as a core engine of economic growth and competitiveness. The report explains how innovation flows through two interconnected engines: manufacturing, which produces the devices, semiconductors, and infrastructure that underpin modern technology, and content and services, which deliver the software, networks, and experiences that bring those technologies to life. Together, these forces transform technological breakthroughs into everyday value for households, businesses, and communities while accelerating productivity and innovation across the broader economy.
The report finds that consumer technology has an economic footprint that extends well beyond the sector itself. In 2023, the industry generated trillions of dollars in output and supported millions of jobs directly, while its supply chains and employee spending amplified those impacts across nearly every part of the U.S. economy. When indirect and induced effects are included, consumer technology accounts for roughly one‑ninth of U.S. GDP, delivers high‑wage employment, and generates substantial tax revenues—underscoring its role as a durable driver of prosperity, competitiveness, and long‑term economic resilience.
