Ahead of the holiday season, gadgets of all types are gaining traction in consumer spend. As estimated recently by IDC, consumer spending this year on technology across all its forms, from personal computing devices to drones, will top $1.6 trillion this year and grow in the mid-single-digit percentages.
5.1 percent: Estimated CAGR of consumer tech spend, as projected through 2023.
$2.06T: Estimated value of consumer spending on technology estimated for 2023.
13.2 percent: Estimated CAGR of spending on newer technologies such as smart home devices.
2.2 percent: Projected spending growth rate on “traditional” technologies.
90 percent: Share of estimated emerging tech spending tied to smart home devices and on-demand services.