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Consumer Tech Spending to Pass $1 Trillion This Year

In 2011, revenues increased by 8 percent to $993 billion, a survey by GfK Digital World and the Consumer Electronics Association (CEA), stated.

According to GfK, smartphones will continue to elevate overall sales growth and there is hope that tablets will add a substantial chunk of sales this year. The 2011 sales volume was estimated at about $39 billion and 2012 will bring a "strong double digit increase" GfK said. "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."

The survey was released on the Eve of CES 2012, which is expected to achieve near record levels of floor space, exhibitors and visitors. The show officially kicks off with Steve Ballmer's opening keynote at 6:30 pm PST tonight.

  • Onus
    Adjusted for inflation (since even a few years ago), it's probably nowhere near that.
    Reply
  • back_by_demand
    A few hundred billion here, a few hundred billion there

    Pretty soon it begins to add up to real money
    Reply
  • iceman1992
    that's surprising in light of the uncertain economic conditions around the world
    Reply
  • papaswedine
    people don't care, they gotta keep up with the "Joneses"...
    Reply
  • frederik23
    CES is pretty worthless in my opinion. I wonder how many people would actually go to this thing if it were held in Fresno or Akron. It's all about Vegas and pretending to care about electronics. Very few of the products announced actually mean anything to anybody and hardly ever succeed. Besides, they are not worth the cash advances taken by people to afford them. Here is a great keynote address from last year's CES by Khan Manka, Jr. in which he basically slams the conference and the people who attend it.
    Reply
  • freggo
    It is actually not that much or is the military spending on electronics not included ?

    Reply
  • Camikazi
    freggoIt is actually not that much or is the military spending on electronics not included ?Last I checked military spending was not considered consumer spending.
    Reply
  • back_by_demand
    frederik23CES is pretty worthless in my opinion. I wonder how many people would actually go to this thing if it were held in Fresno or Akron. It's all about Vegas and pretending to care about electronics. Very few of the products announced actually mean anything to anybody and hardly ever succeed. Besides, they are not worth the cash advances taken by people to afford them. Here is a great keynote address from last year's CES by Khan Manka, Jr. in which he basically slams the conference and the people who attend it.All due respect, but who the hell is Khan Manka?
    Yes I have looked but so far all I can tell is that he is a fake person, cretaed by John Perry and Chris Stengel to draw attention to a non-existant company.
    So someone who doesn't exist has a pop at real people who buy real things from real companies.
    ...
    You just lost the poular vote, dude.
    Reply