Consumers to spend $2.1 trillion on technology this year, report says
Recent innovations in technology are driving continued growth in spending on new devices among consumers, according to market research firm Gartner.
By the end of 2011, consumers will have spent $2.1 trillion on digital information and entertainment products and services, Gartner predicts. The increase from the $2 trillion spent in 2010 is the first in a long upward trend for this sector, as the firm projects $2.8 trillion in consumer technology spending by 2015.
Gartner attributed the rising consumer interest in technology to diverse options in tablets, laptops and desktop computers, among others, that appeal to a wider audience.
"While a vendor can be a leader in specializing within just one segment of the consumer wallet, there are a mounting number of examples that suggest diversification may be the optimal path forward in the consumer electronics industry," said Amanda Sabia, principal research analyst at Gartner. "Vendors that diversify their offerings across multiple consumer spending segments earn revenue across the full ecosystem and take legacy services to transform to newer products and services."
Tablet computers, specifically, are expected to see rapid growth during the next few years. Market research firm In-Stats projects 172.4 million tablet sales by 2014.