Consumers worldwide will spend $2.8 trillion by 2015 on digital information and entertainment products and services, up from the $2 trillion spent in 2010, according to IT research firm Gartner.
The research firm said that spending on digital information and entertainment products and services by global consumers is projected to reach $2.1 trillion in 2011.
The trend among vendors to offer a diversified portfolio of products and/or services puts them in a better position to seize a larger share of the consumer wallet, which is the money spent by consumers for digital technology devices and services.
Gartner principal research analyst Amanda Sabia said vendors that diversify their offerings across multiple consumer spending segments earn revenue across the full ecosystem and take legacy services to transform to newer products and services.
Of the spending in 2010 on these services and products, the largest spending segment (62%) was for communications subscription-based access and usage services ($1.2 trillion).
It included mobile and wired voice services; mobile data services, such as SMS/TXT and broadband; fixed broadband services; video services, such as subscriptions to pay TV; and online gaming.
The second-largest spending segment (28%) was for devices ($600bn), which is made up of consumer electronic devices, such as mobile/handheld devices, PCs and related devices, and stationary entertainment equipment, such as television sets and game consoles.
The smallest spending segment (10%) was for content and software for a total of $200 billion.
Gartner principal research analyst Mikako Kitagawa said the challenge to vendors choosing to be hyperfocused on one wallet spending segment is the relentless pursuit of innovation required to maintain segment sales leadership in this one specific segment.
"There are two ways to achieve leadership in this instance: by diversifying the portfolio suite of offerings and by expanding the target audience or usage model of the products and services," Kitagawa said.
"The three key technology areas that will offer the best opportunity for vendors during the next three years are: wireless broadband, which will enable constant connectivity; location-based services (LBS), which will personalize and take advantage of the constant connected state; and operating systems, which are the foundation for integration applications that can bring it all together."
