Consumer Electronics Show 2013: Global Gadget Spending to Top $1 Trillion this Year

A recent report by the Consumer Electronics Association has projected that global gadget spending on electronics will surpass $1.1 trillion in 2013. This study comes days before the 2013 Consumer Electronics Show (CES), one of the world’s largest technology-related trade shows. What new innovations will the CES 2013 reveal and how will it impact the global economy?

The consumer electronics market is expected to see a significant growth compared to 2012, an increase in spending of about 4%. Emerging markets will be the majority of this increase, projected to grow 9% annually compared to only 1% for mature markets. Many believe that the growth is due to advances in smart technology, such as tablet computers and other devices that use apps. Tablets and smartphones are some of the fastest growing devices of all time; they are projected to account for 40% of gadget spending in 2013. This is significant because nearly every field, from the healthcare industry to the retail industry, relies on technological innovation in some sort. I believe that advances in intelligent technology will be a recurring theme throughout this year’s CES.

Few tech experts are expecting this year’s show to feature the next game-changing technology, but they are expecting smaller innovations to be applied to existing products. “Smart” products are increasing in presence, as consumers are demanding devices that analyze data and offer recommendations on how to work more efficiently and live better. An example of this technology would be an app for your smartphone that syncs health metrics with your calendar to determine which meetings stress you out the most. There are thousands of apps that operate with this technology and the number of them is growing exponentially as innovation occurs.

It will be interesting to see what the CES 2013 has in store and what surprises it may bring to the consumer electronics industry. What new gadgets and technological advances do you think this year’s CES will present?