Spending on consumer electronics will climb to $1.1 trillion in 2013

Consumer Electronics Spending 2013

According to the Consumer Electronics Association, worldwide spending on consumer gadgets will reach $1.1 trillion in 2013. The CEA, which organizes the Consumer Electronics Show set to kick off on Tuesday, said global consumer spending on electronics will grow 4% over 2012 after having dipped roughly 1% last year. The estimate comes from Steve Koenig, director of industry analysis for the CEA, and he believes mobile computers, smartphones and tablets will be responsible for more than half of global spending on consumer electronics this year. Koenig warned that the uncertain European economy could have a negative impact on his forecast, however, and tax changes in the U.S. could hurt consumer spending as well.

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