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Why we’ll all be spending more on tech in the next five years

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Jimmy Richmond
Sep 16, 2016 09:47
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A new Samsung ultra-high-definition TV at the Consumer Electronics Show in Las Vegas in January.

Consumers are likely to spend more on consumer electronics over the next five years as connected hardware grows in popularity, according to Euromonitor.

Consumers are much more sophisticated and thus, their expectations have risen too, says Loo Wee Teck, Euromonitor s head of consumer electronics.

For example, consumers made do with general packet radio service GPRS and third generation 3G internet data speeds in the past but are now demanding long-term evolution LTE services for high speed access, he says.

The retail value of this sector is projected to hit US$45 billion in 2021, versus the estimated US$18.7 billion for 2016, according to Euromonitor.

The appeal of wearables extends beyond the niche demographics of techies and fitness enthusiasts.

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Jimmy Richmond
Sep 16, 2016 09:47
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