Consumer electronics spending to exceed $1 trillion in 2012, report says
Consumer spending on technological devices is expected to surpass $1 trillion this year for the first time ever, according to a report from research firm GfK Digital World and the Consumer Electronics Association (CEA).
Mobile technology will be one of the driving forces behind this spending hike, as tablet computers and smartphones remain among the hottest devices on the market. According to the report, tablet sales are expected to see double-digit growth compared to 2011, reaching $39 billion.
"Today, consumers from every corner of the globe crave the latest tech innovations," says CEA director of industry analysis Steve Koenig. "Rising consumer demand for mobile connected devices underpins the growth in global retail sales of [consumer electronics] we're projecting this year."
The spending increase will not be universal. In fact, the report states that spending growth will slow in developed markets like the United States. The most significant growth will come from developing regions, like Eastern and Central Europe and Asia-Pacific.
Overall, worldwide technology spending is expected to reach $3.8 trillion in 2012, according to a separate report from research firm Gartner. This represents 3.7 percent growth over 2011.