Gartner: CE Market to Hit $2.1 Trillion in 2012

According to Gartner WW consumer spending on CE and technology services will spend $2.1 trillion in 2012-- with products bought including mobile phones, PCs, digital media and services.

CEThe 2012 forecast is $114bn more 2011 CE spending, and Gartner projects such a growth trend will continue over the next 5 years with an annual WW growth rate of $130bn. By 2016 the analyst predicts global CE spending will total $2.7tr.

"The three largest segments of the consumer technology market are, and will continue to be, mobile services, mobile phones and entertainment services," Gartner says.

The mobile device segment accounts for 10% of the total 2012 CE market-- being worth $222bn, a total set to reach around $300bn by 2016.

Mobile services (including apps and e-text content) consumer spending should reach $18bn in 2016 before growing to $61bn by 2016, as customers prefer spending on digital content than using retailers.

Gartner forecasts entertainment services (including cable, satellite, IPTV and online gaming) spending will total $290bn in 2016, up from $210bn in 2012.

The analyst remarks "consumers are willing to pay for [digital] content they deem 'worth it'," but ad-supported business models should also find success in services such as personal cloud storage, social networking, information searching, VoIP and online media streaming.

Go Gartner Says Consumers Will Spend $2.1 Trillion on Technology Products and Services in 2012