The 2014 International CES is taking place in Las Vegas this week, and more than 3,200 electronic, gaming and media companies are making major announcements for the new year. Many of the biggest names in tech entertainment have taken the stage to let consumers know which developments are taking place, and we have a summary of the most important news so far.

On Tuesday, President and CEO of the Consumer Electronics Association Gary Shapiro delivered a state of the consumer electronics industry address, saying U.S. technology sales are expected to climb 2.4 percent in 2014, up to $208 billion – a record high. He also predicted that $6 billion in sales will go to new categories in tech. “We are at the forefront of a momentous wave of innovation,” said Shapiro during his address. “The incredible growth that emerging product categories such as Ultra HDTV, wearable electronics and 3D printers will experience this year underscores the significant role new technologies play in the total consumer electronics story.”

Andrew House, president and Group CEO of Sony Home Entertainment, then announced the development of PlayStation Now, an online streaming service for users. The service will allow PlayStation fans to stream PS4, PS Vita and PS3 games on a multitude of devices, including smartphones, tablets and BRAVIA televisions. The service is cloud-based and easily accessible by logging into the Sony Entertainment network. Gamers will also have instant access to the most updated versions of titles and will be able to pay a full subscription rate or purchase games individually.

Yahoo CEO Marisa Mayer delivered a compelling speech at the consumer electronics show, conveying the company’s goal of compiling entertaining digital data across its sites. Mayer announced that Yahoo is taking a “mobile first” approach, which includes the launch of two new online magazines, Yahoo Food and Yahoo Tech. The company also announced Yahoo News Digest, a twice-daily mobile news summary. Mayer also talked about the recent purchase of Aviate, a popular replacement Android home screen launcher, which is currently available on the Google Play Store.

Cisco Chairman and CEO John Chambers talked about his vision of the "Internet of Everything," a networked connection of people, data and processes. “2014 will be the transformational and pivotal point for the Internet of Everything,” he predicted. He also added that “the Internet of Everything will be five to 10 times more impactful in the next decade than the entire Internet has been to date.” Chambers shared ideas about using technology to save significant amounts of money, stating that the $13 billion spent annually on street lighting could be reduced by 70 percent by using connected technology. He also included a detailed demo of Cisco’s Videoscape, a cloud-based home entertainment system.

CES included a Futurecast Keynote that featured AT&T Senior Executive Vice President John Donovan, Executive Chairman of the Board of Directors of Qualcomm Paul Jacobs and Ericsson CEO Hans Vestberg. The executives discussed the power of mobile technology in the modern world, and the importance of wireless networks. All three panelists emphasized the importance of mobile as a viable platform for creativity and creation. “When you give consumers the freedom to use bandwidth, they’ll use it,” Donovan pointed out. “The phone is the remote control for your life.” He also said AT&T is focusing on becoming more of a software-oriented company that enables content creation. Efficiency was also a highly discussed topic. “When we think about the Internet of Everything, we want these sensors to be very low power,” said Jacobs as he explored wireless charging.

CES will end on Friday. As the show comes to a close, around 20,000 products will have launched, from wearable technology to 3D printers. Are you keeping up with CES? What products or services are you looking forward to the most? Leave a comment below.

Follow me on Twitter.