GfK Retail & Technology announced it forecasts that global spending on consumer technology devices will surpass $1 trillion in 2012.
For more information visit: www.gfkrt.com
Unedited press release follows:
Global Consumer Tech Device Spending to Surpass $1 Trillion in 2012
LAS VEGAS, NV – The latest forecast figures from GfK Digital World, produced in partnership with Consumer Electronics Association (CEA), reveal global spending on consumer technology devices will surpass $1 trillion in 2012 for the first time, increasing by 5% over 2011’s figure of $993 billion.
On January 8th at the 2012 International CES, GfK Boutique Research and the Consumer Electronics Association discussed market trends within the Consumer Electronics (CE) industry. Using the latest global market data and forecasts from GfK Digital World, the presentation analyzed 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 8%”, according to Steve Bambridge, Business Director for GfK Boutique Research.
Smartphones to remain the key growth driver in 2012
GfK Digital World estimates and forecasts show 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. “Rising consumer demand for mobile connected devices underpins the growth in global retail sales of CE we’re projecting this year.”
About GfK Digital World:
GfK Digital World is produced by GfK Boutique Research in partnership with the Consumer Electronics Association. It brings together global sales data, estimates and forecasts for dozens of consumer technology devices and includes key regional break-outs. GfK Digital World is updated semi-annually and marketed by GfK Boutique Research and CEA.
About GfK Boutique Research:
GfK Boutique Research is a wholly-owned subsidiary of GfK Retail & Technology. With offices in Boston, London, and Hong Kong, GfK Boutique is dedicated to adding value to GfK POS data, producing forecasts, supply chain metrics, and other proprietary analysis
About CEA: The Consumer Electronics Association (CEA) is the preeminent trade association promoting growth in the $190 billion U.S. consumer electronics industry. More than 2,000 companies enjoy the benefits of CEA membership, including legislative advocacy, market research, technical training and education, industry promotion, standards development and the fostering of business and strategic relationships. CEA also owns and produces the International CES – The Global Stage for Innovation. All profits from CES are reinvested into CEA’s industry services. Find CEA online at www.CE.org and www.DeclareInnovation.com.
*Emerging APAC comprises developing markets across the across the Asia Pacific region, including China and India
^ Central & Eastern Europe includes Russia and other CIS countries
The GfK Group
The GfK Group offers the fundamental knowledge that industry, retailers, services companies and the media need to make market decisions. It delivers a comprehensive range of information and consultancy services in the three business sectors Custom Research, Retail and Technology and Media. The No. 5 market research organization worldwide operates in more than 100 countries and employs over 11,000 staff. In 2010, the GfK Group’s sales amounted to EUR 1.29 billion. For further information, visit our websites: www.gfkrt.com, www.facebook.com/gfkrt and www.twitter.com/gfkrt.