Mobile devices and services will account for more than $1 trillion of consumer technology spending in 2012.
Mobile services are expected to generate 37% of total worldwide consumer technology spending in 2012 ($800bn), while mobile phone sales will account for 10% ($222bn), according to a new report by Gartner.
These figures will rise to $1 trillion and $300bn respectively by 2016, reiterating the dominance of mobile phones across the world for retail consumers – and its subsequent flow ons to business through consumerisation.
Spending on mobile apps stores and content alone will rise from $18 billion in 2012 to $61 billion by 2016. Of that, spending on e-books, online news, magazines and information services will rise from $5 billion in 2012 to $16 billion by 2016.
"The three largest segments of the consumer technology market are, and will continue to be, mobile services, mobile phones and entertainment services," said Amanda Sabia, principal research analyst at Gartner.
"There are two product classes, which in terms of absolute dollars are significantly smaller, but offer tremendous growth by 2016. These are mobile apps stores and e-text content. We fully expect consumers to more than triple their spending in these latter two categories by 2016."
Overall, consumers will spend $2.1 trillion worldwide on digital information and entertainment products and services in 2012, up $114bn on 2011. The rate of growth is expected to increase at around $130 billion a year, to reach $2.7 trillion by the end of 2016.
Other than mobile phones and services, the $2.1 trillion includes consumer spends on computers and entertainment devices such as TVs and stereos, and set top boxes, such as Sky TV, TiVO and video game consoles.
Entertainment services — cable, satellite, IPTV and online gaming – account for 10% of total consumer spending on technology products and services in 2012, at $210 billion, rising to almost $290 billion in 2016.