TECH SUPPLIER Mar 2021 - IDC Survey - Doc # US47414321
U.S. Consumer Tech Spend — A Leap Forward (2020 Versus 2019)
This IDC Survey summarizes the results from IDC's U.S. Consumer Technology Landscape Survey fielded in December 2020. This IDC Survey analyzes consumer tech spend across the devices, accessories, and tech-enabled services consumers purchased in 2020.
In 2020, COVID-19 catalyzed a perfect storm of events that benefited tech at every turn, driving an overall increase of 12% in consumer spending. Although spend increased broadly, growth rates varied widely by demographics, including generational cohorts. Interestingly, spend was largely flat among those under the age of 30, outpaced by growth of more than 15% among those over 30.
"2020 growth in consumer tech spend was highest among those who underinvested or lagged in technology adoption previously relative to their peers," said David Myhrer, research vice president, IDC's U.S. Consumer Technology Strategy Service. "Companies that understand this will find more success, rather than targeting just the usual suspects."