GfK’s Digital World report published in partnership with CES in Las Vegas says that this year will see consumer spending on technology devices will exceed $1 trillion for the first time, up five per cent on 2011’s record spend of $993 billion. Extra growth has come from the increasingly important Asia-Pac market (which includes the China and India powerhouses), and Central & Eastern Europe, where both regions saw buoyant growth.
Using the latest global market data and forecasts from GfK Digital World, the report analysed key product trends within a global market context; highlighting the importance of mobile connected devices as a key driver of spending growth. Additionally, the presentation addressed the importance of developing markets in driving growth in global spending.
“Despite slowing growth in developed markets, robust growth in emerging markets, particularly Emerging APAC and Central & Eastern Europe, has helped sustain global spending in 2011 at the relatively healthy level of eight per cent”, according to Steve Bambridge, Business Director for GfK Boutique Research.
GfK Digital World forecasts that booming global demand for smartphones made these devices the key spending growth driver in 2011 and that this is set to continue in 2012. Additionally, sales of tablet PCs, which are estimated to have reached $39 billion this year, are predicted to show a strong double digit increase in 2012.
“Today, consumers from every corner of the globe crave the latest tech innovations,” said Steve Koenig, Director, Industry Analysis for Consumer Electronics Association, organisers of CES. “Rising consumer demand for mobile connected devices underpins the growth in global retail sales of CE we’re projecting this year.”