Global Consumer Digital Spending to Reach $3.4 Trillion in 2020, IDC Reports

Consumer spending on digital devices, services and content will rise on average 4.7 percent annually, reaching $3.4 trillion worldwide in 2020, IDC said in a Tuesday report. Total consumer digital spending is going up, but “the nature of the spend is changing,” it said. “Just as consumers shift spending towards digital content, consumers worldwide are moving digital spending towards online media and away from entertainment devices.” Regions outside the U.S. will account for most of the change in consumer habits, it said. In developing countries, “consumer spending on digital content and services, versus devices, is still gaining, while online media spending also increases in wallet share,” it said.