The amount of money spent on mobile phones and related services will reach more than $1 trillion for 2012, meaning that almost half of global consumer tech spending now goes towards the mobile sector.
A report recently released by Gartner shows that mobile services are expected to generate 37 percent of global consumer technology spending in 2012 at $800 billion, while the sale of mobile phones will account for 10 percent at $222 billion.
By 2016 these figures will increase to $1 trillion and $300 billion respectively, illustrating just how dominant the global mobile industry is becoming.
Addition mobile technology will also benefit with spending on apps expected to rise from $18 billion this year to more than $60 billion by 2016. Spending on e-books, online news and other information services is expected to account for $16 billion alone by 2016.
“There are two product classes, which in term of absolute dollars are significantly smaller, but offer tremendous growth by 2016. These are mobile apps stores and e-text content. We expect consumers to more than triple their spending in these latter two categories by 2016,” explained Amanda Sabia, principal research analyst at Gartner.
In addition to mobile phones and services, the other major segment of the consumer technology market is entertainment services such as cable, satellite, IPTV and online gaming. At present this accounts for 10 percent of consumer spending at $210 billion in 2012, but is expected to rise to almost $290 billion by 2016.
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