Consumer tech spending to top $2 trillion by 2023 thanks to smart home devices and on-demand services
TechRepublic October 11, 2019
AR/VR headsets, drones, robotic systems, smart home devices and on-demand services such as Netflix, Hulu and Spotify will push consumer tech spending to $2.06 trillion by 2023.
New research from International Data Corporation (IDC) shows that consumer tech spending will reach $1.69 trillion this year, an increase of 5.3% over 2018, and it will hit $2.06 trillion by 2023.
The IDC’s Worldwide Semiannual Connected Consumer Spending Guide, released today, shows that traditional and emerging technologies will remain strong through 2023, with a five-year compound annual growth rate (CAGR) of 5.1%.
Emerging technologies such as augmented reality (AR) and virtual reality (VR) headsets, drones, on-demand services, robotic systems, smart home devices and wearables will have...