The global total consumer spending in was forecast to continuously increase between 2024 and 2029 by in total **** trillion U.S. dollars (+***** percent). After the ninth consecutive increasing year, the consumer spending is estimated to reach **** trillion U.S. dollars and therefore a new peak in 2029. Consumer spending here refers to the domestic demand of private households and non-profit institutions serving households (NPISHs). Spending by corporations and the state is not included. The forecast has been adjusted for the expected impact of COVID-19.Consumer spending is the biggest component of the gross domestic product as computed on an expenditure basis in the context of national accounts. The other components in this approach are consumption expenditure of the state, gross domestic investment as well as the net exports of goods and services. Consumer spending is broken down according to the United Nations' Classification of Individual Consumption By Purpose (COICOP). As not all countries and regions report data in a harmonized way, all data shown here has been processed by Statista to allow the greatest level of comparability possible. The underlying input data are usually household budget surveys conducted by government agencies that track spending of selected households over a given period.The data is shown in nominal terms which means that monetary data is valued at prices of the respective year and has not been adjusted for inflation. For future years the price level has been projected as well. The data has been converted from local currencies to US$ using the average exchange rate of the respective year. For forecast years, the exchange rate has been projected as well. The timelines therefore incorporate currency effects.Find more key insights for the total consumer spending in countries like North America and Europe.

World consumer spending for 2023 was 59.977 trillion US dollars, a 6.65% increase from 2022.

<ul style='margin-top:20px;'>

<li>World consumer spending for 2022 was <strong>56.237 trillion US dollars</strong>, a <strong>4.81% increase</strong> from 2021.</li>
<li>World consumer spending for 2021 was <strong>53.659 trillion US dollars</strong>, a <strong>13.13% increase</strong> from 2020.</li>
<li>World consumer spending for 2020 was <strong>47.431 trillion US dollars</strong>, a <strong>4.25% decline</strong> from 2019.</li>
</ul>Household final consumption expenditure (formerly private consumption) is the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings. It also includes payments and fees to governments to obtain permits and licenses. Here, household consumption expenditure includes the expenditures of nonprofit institutions serving households, even when reported separately by the country. Data are in current U.S. dollars.

Between 2024 and 2028, revenues of media and digital content are expected to grow, with consumer spending around accounting for 1.58 trillion U.S. dollars on services with recurring payments. Single transaction will generate approximately 323 billion U.S. dollars from global consumers in the examined period.Subscription-based monetization models for digital content and services have increasingly become popular in recent years.

In case prices for goods and services go up significantly in 2023, over ** percent of consumers around the world said they would shop less in general and cut down on spending as a response. A fifth of survey respondents said they would look for and purchase cheaper and better value products. Less than **** percent of those surveyed worldwide believed inflation would be unlikely to impact their habits. What does inflation look like? The world entered a new inflation crisis in 2021, driven by a confluence of factors including the COVID-19 pandemic which restricted global supply chains, and the Russian-Ukraine war which exacerbated food and energy shortages. In 2022, global inflation hit **** percent, the highest annual increase in decades. The rate of inflation is estimated to remain high in the near future, at around *** percent in 2023 and *** percent in 2024. Inflation dominated the list of most important problems facing the world according to a survey conducted in October 2023 – leading ahead of poverty and social inequality, crime and violence, and unemployment. In a global consumer trends survey, the majority of respondents said that inflation impacted them completely or a lot – for instance, ***** in ** respondents in the United States admitted they had been seriously impacted. Inflation’s impact on the holidays The end-of-year holiday season is typically regarded as a period of increased retail spending, driven by a series of major shopping events such as Black Friday and Cyber Monday, as well as the public holidays Thanksgiving and Christmas. However, inflation has put a damper on the holiday cheer, with consumers expressing their intentions to cut back spending amid the cost-of-living crisis. In 2022, a significant share of consumers in Europe said they planned to cut at least some related expenses. In fact, ** percent of respondents in the United Kingdom planned to cut all expenses related to Black Friday and Christmas.

Consumer Goods Market Outlook

The global consumer goods market size is projected to expand significantly from USD 1.5 trillion in 2023 to USD 2.1 trillion by 2032, reflecting a compound annual growth rate (CAGR) of 4.1%. This growth trajectory underscores the increasing demand for consumer goods driven by technological advancements, rising consumer income levels, and evolving lifestyles. As economies develop and urbanization increases, the consumer goods sector experiences an upsurge in demand across various segments, including personal care, household care, food and beverages, apparel, and more. This robust growth is also fueled by the burgeoning e-commerce industry, which has revolutionized how consumers purchase goods and services, providing convenience and a broader range of options.

One of the significant growth factors for the consumer goods market is the rapid technological innovation, particularly in the realms of e-commerce and digital marketing. Consumers now have unprecedented access to product information and reviews, influencing their purchasing decisions. The rise of social media platforms has also allowed brands to engage with consumers directly, creating personalized marketing strategies that enhance customer experience. Additionally, the integration of artificial intelligence and machine learning in analyzing consumer behavior has enabled companies to anticipate market trends, optimize inventory, and offer personalized product recommendations, thereby boosting sales and customer satisfaction.

Another prominent driver is the increasing disposable income and changing consumer lifestyles, particularly in emerging markets. As populations in regions like Asia Pacific and Latin America experience economic growth, there is an observable shift in consumer spending patterns. More people are investing in premium products, including high-end personal care items and organic food products. This change is partly due to a greater awareness of health and wellness, which is influencing consumers to make more informed and sometimes more expensive purchases. Additionally, urbanization is contributing to lifestyle changes, where convenience and efficiency often dictate consumer choices, a trend that benefits quick-service consumer goods.

Sustainability and eco-consciousness are also pivotal in driving the consumer goods market. There is a growing trend among consumers to favor brands that are committed to sustainability and ethical practices. This shift has encouraged companies to innovate and offer products that not only meet consumer needs but also align with their values concerning environmental conservation. Brands that have successfully adapted to these changes by incorporating sustainable practices into their production and supply chains are experiencing significant growth. This trend is particularly strong among younger demographics, who prioritize sustainability in their purchasing decisions.

On the regional frontier, the Asia Pacific is anticipated to dominate the consumer goods market over the forecast period, exhibiting the highest growth rate. The region's burgeoning middle class, coupled with rapid urbanization and digital transformation, positions it as a key player in the global market. Meanwhile, North America and Europe continue to show steady growth, driven by technological advancements and a mature consumer base that values innovation and quality. Latin America and the Middle East & Africa, while currently smaller in market size, are expected to witness robust growth due to increasing economic development and consumer awareness. These regional dynamics highlight the diverse opportunities and challenges faced by the consumer goods market globally.

Product Type Analysis

The consumer goods market is characterized by a diverse array of product types, each with its unique growth dynamics and market drivers. In the personal care segment, there is a notable increase in demand for organic and natural products as consumers become more health-conscious and aware of the ingredients in their personal care items. This trend is not isolated to the West; it is gaining momentum in emerging markets as well, where consumers are increasingly prioritizing health and wellness. The rise of beauty and grooming products among both men and women is further propelling growth in this segment, as personal grooming becomes a part of daily routine for a broader demographic base.

Household care products are also undergoing significant transformation, driven by innovation in product formulations that promise better performance and sustainability. The increasing awareness

In 2023, *** ***** apps such as Netflix, Disney+, and the ************* generated over ************* U.S. dollars in global consumer spending. In the same year, ****** apps were the second highest grossing category for app users worldwide, recording a spending of approximately *** billion U.S. dollars. *********** apps, which rely on in-app purchases from consumers, generated *** billion U.S. dollars.

Consumer Spending in China increased to 538646.10 CNY Hundred Million in 2024 from 512120.60 CNY Hundred Million in 2023. This dataset provides - China Consumer Spending - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Success.ai’s Consumer Behavior Data for Consumer Goods & Electronics Industry Leaders in Asia, the US, and Europe offers a robust dataset designed to empower businesses with actionable insights into global consumer trends and professional profiles. Covering executives, product managers, marketers, and other professionals in the consumer goods and electronics sectors, this dataset includes verified contact information, professional histories, and geographic business data.

With access to over 700 million verified global profiles and firmographic data from leading companies, Success.ai ensures your outreach, market analysis, and strategic planning efforts are powered by accurate, continuously updated, and GDPR-compliant data. Backed by our Best Price Guarantee, this solution is ideal for businesses aiming to navigate and lead in these fast-paced industries.

Why Choose Success.ai’s Consumer Behavior Data?

1. Verified Contact Data for Precision Engagement

   • Access verified email addresses, phone numbers, and LinkedIn profiles of professionals in the consumer goods and electronics industries.
   • AI-driven validation ensures 99% accuracy, optimizing communication efficiency and minimizing data gaps.

2. Comprehensive Global Coverage

   • Includes profiles from key markets in Asia, the US, and Europe, covering regions such as China, India, Germany, and the United States.
   • Gain insights into region-specific consumer trends, product preferences, and purchasing behaviors.

3. Continuously Updated Datasets

   • Real-time updates capture career progressions, company expansions, market shifts, and consumer trend data.
   • Stay aligned with evolving market dynamics and seize emerging opportunities effectively.

4. Ethical and Compliant

   • Fully adheres to GDPR, CCPA, and other global data privacy regulations, ensuring responsible use and legal compliance for all data-driven campaigns.

Data Highlights:

• 700M+ Verified Global Profiles: Connect with industry leaders, marketers, and decision-makers in consumer goods and electronics industries worldwide.
• Consumer Trend Insights: Gain detailed insights into product preferences, purchasing patterns, and demographic influences.
• Business Locations: Access geographic data to identify regional markets, operational hubs, and emerging consumer bases.
• Professional Histories: Understand career trajectories, skills, and expertise of professionals driving innovation and strategy.

Key Features of the Dataset:

1. Decision-Maker Profiles in Consumer Goods and Electronics

   • Identify and engage with professionals responsible for product development, marketing strategy, and supply chain optimization.
   • Target individuals making decisions on consumer engagement, distribution, and market entry strategies.

2. Advanced Filters for Precision Campaigns

   • Filter professionals by industry focus (consumer electronics, FMCG, luxury goods), geographic location, or job function.
   • Tailor campaigns to align with specific industry trends, market demands, and regional preferences.

3. Consumer Trend Data and Insights

   • Access data on regional product preferences, spending behaviors, and purchasing influences across key global markets.
   • Leverage these insights to shape product development, marketing campaigns, and customer engagement strategies.

4. AI-Driven Enrichment

   • Profiles enriched with actionable data allow for personalized messaging, highlight unique value propositions, and improve engagement outcomes.

Strategic Use Cases:

1. Marketing and Demand Generation

   • Design campaigns tailored to consumer preferences, regional trends, and target demographics in the consumer goods and electronics industries.
   • Leverage verified contact data for multi-channel outreach, including email, social media, and direct marketing.

2. Market Research and Competitive Analysis

   • Analyze global consumer trends, spending patterns, and product preferences to refine your product portfolio and market positioning.
   • Benchmark against competitors to identify gaps, emerging needs, and growth opportunities in target regions.

3. Sales and Partnership Development

   • Build relationships with key decision-makers at companies specializing in consumer goods or electronics manufacturing and distribution.
   • Present innovative solutions, supply chain partnerships, or co-marketing opportunities to grow your market share.

4. Product Development and Innovation

   • Utilize consumer trend insights to inform product design, pricing strategies, and feature prioritization.
   • Develop offerings that align with regional preferences and purchasing behaviors to maximize market impact.

Why Choose Success.ai?

1. Best Price Guarantee
   • Access premium-quality consumer behavior data at competitive prices, ensuring maximum ROI for your outreach, research, and ma...

In 2020, Asia presented the highest consumer spending on mobile social apps, with users in the region generating more than *** billion U.S. dollars. By 2025, it is estimated that consumer spending in Asia on social apps will increase by approximately *** percent, reaching the market value of *** billion U.S. dollars. While spending on social apps in Europe is forecasted to experience slower growth, consumers in North America are forecasted to double their spending on apps in this category between 2022 and 2025.

In 2023, **** was the leading market for mobile apps, with users in the country generating approximately ** billion U.S. dollars in app spending. ************* ranked second, with users spending almost ** billion U.S. dollars on apps during the last examined year. In 2023, global consumer spending on mobile apps amounted to *** billion U.S. dollars, up from *** billion U.S. dollars in 2022.

Consumer Finance Market Outlook

In 2023, the global consumer finance market size is valued at approximately $1.8 trillion and is anticipated to reach around $3.2 trillion by 2032, reflecting a robust compound annual growth rate (CAGR) of 6.5%. The primary drivers propelling this market forward include increasing disposable incomes, urbanization, and technological advancements that are making financial services more accessible to a larger base of consumers. The burgeoning consumer finance market is characterized by a surge in demand for varied credit options such as personal loans, credit cards, mortgages, and auto loans. Furthermore, the expansion of digital banking platforms and non-banking financial companies (NBFCs) has significantly contributed to the broadening reach of consumer finance services, enabling more individuals and small enterprises to access financial resources conveniently and efficiently.

One of the pivotal growth factors in the consumer finance market is the increasing disposable income across both developed and developing nations. As economies grow, income levels generally increase, leading to a rise in consumer spending. This economic improvement is further augmented by supportive governmental policies aimed at enhancing financial inclusion, which has contributed substantially to the expansion of consumer finance services. Additionally, the shift towards a more urbanized lifestyle has resulted in higher consumption patterns, which in turn boosts the demand for consumer credit to facilitate various lifestyle needs. The availability of innovative financial products that cater to the diverse needs of consumers further stimulates market growth by providing tailored financial solutions.

Technological advancements have also been a critical driver for the consumer finance market. The emergence of digital platforms and fintech innovations has revolutionized the way financial services are accessed and consumed. Financial institutions are increasingly leveraging technology to enhance customer experience, streamline operations, and offer more personalized financial products. Mobile banking, artificial intelligence, and machine learning are being utilized to assess creditworthiness, process applications, and manage risks more effectively. Online platforms provide convenience and speed, making financial services more accessible to a larger audience, including previously underserved segments such as small and medium enterprises (SMEs) and rural populations.

The rise of non-banking financial companies (NBFCs) has added another layer of dynamism to the consumer finance market. These institutions, often more agile than traditional banks, are rapidly gaining ground by offering competitive interest rates and flexible terms. NBFCs, along with online financial platforms, are filling the gaps left by conventional banking systems, especially in emerging markets where banking penetration remains low. Their ability to reach customers through digital means allows them to offer financial products to a wider audience, including those who might not have access to banking infrastructure. This has significantly contributed to the proliferation of consumer finance options, enhancing market growth globally.

Microfinance has emerged as a pivotal component within the consumer finance landscape, particularly in regions where traditional banking services are less accessible. By offering small loans and financial services to individuals and small businesses that lack access to conventional banking, microfinance institutions are playing a crucial role in fostering financial inclusion. These services are especially significant in developing countries, where they empower entrepreneurs and small enterprises to invest in their businesses, improve livelihoods, and contribute to economic growth. The integration of microfinance into the broader financial ecosystem is helping to bridge the gap between underserved populations and formal financial services, thereby enhancing the overall reach and impact of consumer finance.

Regionally, the consumer finance market shows diverse trends with notable growth in Asia Pacific, driven by rapid economic development and a growing middle class. In North America and Europe, established financial infrastructure and high consumer awareness continue to support market expansion, though at a moderate pace compared to emerging markets. Latin America and the Middle East & Africa are expected to see increased activity as financial inclusion initiatives gain momentum. Each region presents unique opportunities and challenges,

Retail IT Spending Market Outlook

The global Retail IT Spending market size is projected to experience substantial growth, with an estimated value of approximately USD 261 billion in 2023, and is anticipated to reach USD 451 billion by 2032, witnessing a CAGR of 6.5% during the forecast period. Several growth factors are spearheading this expansion, including the rapid digital transformation in the retail sector and the increasing consumer inclination towards online shopping. Retailers are continuously investing in innovative IT solutions to enhance their operational efficiencies, improve customer experiences, and stay competitive in a fast-evolving digital landscape. This surge in IT spending is also driven by the need to integrate advanced technologies such as artificial intelligence, analytics, and IoT, which are redefining traditional retail operations.

One significant growth factor contributing to the Retail IT Spending market is the technological advancement and proliferation of smart retail technologies. Retailers are increasingly adopting IT solutions to streamline their supply chains, enhance inventory management, and offer personalized customer experiences. The integration of AI and machine learning in retail operations enables businesses to predict consumer behavior, optimize pricing strategies, and improve customer service. Moreover, the rise of omnichannel retailing, where physical and digital shopping experiences are seamlessly integrated, necessitates robust IT infrastructures, further boosting the market. As consumers demand more personalized and convenient shopping experiences, retailers are compelled to invest in IT solutions that can deliver these expectations, thus driving market growth.

Another driving factor is the growing importance of cybersecurity in the retail sector. As retailers expand their digital presence, they become more vulnerable to cyber threats, necessitating increased spending on cybersecurity solutions. The implementation of stringent data protection regulations worldwide has made it imperative for retail businesses to invest in securing their IT infrastructure. This includes solutions for data encryption, threat detection, and response systems to safeguard sensitive customer information. With cyber threats becoming increasingly sophisticated, retailers are prioritizing their IT budgets to ensure robust cybersecurity measures are in place, thus contributing to the overall growth of the Retail IT Spending market.

The continuous evolution and expansion of e-commerce platforms also play a critical role in driving the Retail IT Spending market. With the exponential growth of e-commerce giants and the proliferation of online shopping, retailers are under immense pressure to enhance their digital capabilities. This shift has led to increased investments in IT solutions that support e-commerce operations, such as cloud computing, IT infrastructure upgrades, and customer relationship management systems. Retailers are also leveraging data analytics to gain insights into consumer behavior and preferences, allowing them to tailor their offerings and marketing strategies effectively. As e-commerce continues to fuel the digital retail revolution, the demand for advanced IT solutions is expected to rise significantly.

In the context of the Retail IT Spending market, Capital ICT Spending plays a pivotal role in shaping the strategic direction of retail enterprises. As retailers strive to enhance their digital capabilities, capital investments in Information and Communication Technology (ICT) are becoming increasingly critical. These investments are not only aimed at upgrading existing IT infrastructure but also at adopting cutting-edge technologies that can drive innovation and efficiency. By allocating significant capital towards ICT, retailers can ensure they remain competitive in a rapidly evolving market landscape. This focus on Capital ICT Spending is particularly evident in the deployment of advanced analytics, AI, and IoT solutions, which are transforming traditional retail operations and enabling businesses to better understand and serve their customers.

In terms of regional outlook, North America currently holds a significant share of the Retail IT Spending market, driven by the presence of major retail giants and advanced IT infrastructure. The region's highly developed retail sector and early adoption of digital technologies contribute to its leading position. Meanwhile, the Asia Pacific region is anticipated to witness the fastest growth during the forecast period, owing to the rapid develo

Non Durable Goods Market Size And Forecast

Non Durable Goods Market size was valued at USD 2280.4 Billion in 2023 and is projected to reach USD 24,165.49 Billion by 2031, growing at a CAGR of 6.0 % during the forecast period 2024-2031.

Global Non Durable Goods Market Drivers

The non-durable goods market encompasses products that are consumed quickly or have a short lifespan, typically lasting less than three years. This category includes items like food and beverages, personal care products, household goods, and consumables. Several market drivers influence this sector:

Consumer Preferences and Trends: Shifts in consumer preferences, such as a move towards organic or sustainable products, can significantly impact demand. Brands that align with these values may see increased market share. Economic Conditions: Economic factors, including disposable income levels, inflation, and employment rates, affect consumer spending on non-durable goods. In prosperous times, consumers may be more willing to try premium products.

Global Non Durable Goods Market Restraints

The non-durable goods market, which includes products that are consumed quickly and have a short lifespan (such as food, beverages, toiletries, and cleaning products), faces several market restraints. Here are some key factors that can limit growth or affect the operation of this market:

Economic Fluctuations: Economic downturns can lead to reduced consumer spending, particularly on non-essential non-durable goods. Recessionary periods can shift consumer preferences towards cheaper alternatives or store brands. Shifting Consumer Preferences: Changing consumer preferences, such as increased demand for sustainable, organic, or healthier options, can require companies to adapt quickly to market demands, potentially leading to increased costs or the risk of losing market share if they fail to comply.

An overwhelming majority (90 percent) of worldwide consumers from all generations are concerned about their personal financial situations in 2023. Further, 70 percent of global consumers have changed their behavior on non-essential spending. Inflation remains influential and has led many consumers to adjust their habits.

Consumer Goods (CPG) Market Outlook

The global Consumer Goods (CPG) market size was valued at approximately USD 8.3 trillion in 2023 and is expected to reach USD 12.5 trillion by 2032, growing at a compound annual growth rate (CAGR) of 4.7% during the forecast period. This substantial growth can be attributed to several factors, including the increasing urban population, rising disposable incomes, and the rapid adoption of e-commerce platforms across various regions.

One of the primary growth factors driving the CPG market is the ongoing urbanization trend. As more people move to urban areas, the demand for consumer goods naturally increases. Urban dwellers typically have higher disposable incomes, which translates into more spending on both essential and non-essential consumer goods. Additionally, urbanization leads to changes in lifestyle and consumption patterns, favoring products that offer convenience, quality, and brand value. These changes are propelling the market forward at a steady pace.

Another significant growth factor is the advent of digital transformation and the proliferation of e-commerce. The integration of advanced technologies such as artificial intelligence, machine learning, and big data analytics into the retail sector has revolutionized the way consumers shop for goods. E-commerce platforms provide consumers with the convenience of shopping from anywhere at any time, which has become especially crucial in the wake of the COVID-19 pandemic. This shift towards online shopping has not only increased the reach of CPG companies but has also enabled them to gather valuable consumer data for more targeted marketing and improved supply chain management.

Consumer preferences are also evolving, with a growing emphasis on health, wellness, and sustainability. This shift is driving the demand for organic, natural, and eco-friendly products. Companies are increasingly focusing on sustainability, from sourcing raw materials to packaging and distribution. This trend is particularly strong among younger consumers, who are more environmentally conscious and willing to pay a premium for sustainable products. Consequently, companies that align with these values are experiencing higher growth rates.

When considering the regional outlook, the Asia Pacific region stands out as a major growth contributor to the global CPG market. The region is experiencing rapid economic development, a burgeoning middle class, and significant population growth, particularly in countries like China and India. North America and Europe also continue to be substantial markets due to high consumer spending and advanced retail infrastructure. However, the growth rate in these regions is comparatively slower due to market saturation. Meanwhile, Latin America, the Middle East, and Africa are emerging as potential markets due to increasing urbanization and improving economic conditions.

Product Type Analysis

The CPG market is segmented by product type into Food and Beverages, Personal Care and Cosmetics, Household Products, and Others. The Food and Beverages segment dominates the market, accounting for the largest share. This can be attributed to the essential nature of food and beverages, making them a constant necessity. The increasing demand for healthier options, organic products, and premium beverages is driving growth in this segment. Moreover, innovative product offerings and convenient packaging solutions are attracting a significant consumer base.

Personal Care and Cosmetics is another crucial segment, experiencing robust growth due to rising beauty consciousness and the influence of social media. The demand for skincare, haircare, and makeup products is soaring, particularly among younger demographics. Innovations in product formulations, such as the inclusion of natural and organic ingredients, are further enhancing the appeal of personal care products. Additionally, the male grooming sector is gaining traction, contributing to the growth of this segment.

The Household Products segment includes items such as cleaning supplies, laundry detergents, and other home care products. This segment is growing steadily, driven by the increasing focus on hygiene and cleanliness, especially in the post-pandemic era. Manufacturers are continuously introducing new and improved products to meet consumer demands for efficacy and convenience. Eco-friendly and sustainable household products are also gaining popularity, aligning with the global shift towards environmental responsibility.

Other products in the CPG m

Key information about United States Private Consumption: % of GDP

• United States Private Consumption accounted for 68.8 % of its Nominal GDP in Dec 2024, compared with a ratio of 67.7 % in the previous quarter.
• US Private Consumption contribution to Nominal GDP ratio is updated quarterly, available from Mar 1947 to Dec 2024, with an average share of 63.5 %.
• The data reached an all-time high of 68.8 % in Dec 2024 and a record low of 57.7 % in Mar 1952.

CEIC calculates Private Consumption as % of Nominal GDP from quarterly Private Consumption Expenditure and quarterly Nominal GDP. The Bureau of Economic Analysis provides Private Consumption Expenditure in USD and Nominal GDP in USD.


Related information about United States Private Consumption: % of GDP

• In the latest reports, US GDP expanded 1.8 % YoY in Mar 2023.
• Its Nominal GDP reached 6,632.4 USD bn in Mar 2023.
• US GDP Per Capita reached 59,484.0 USD in Dec 2017.
• Its Gross Savings Rate was measured at 16.0 % in Mar 2023.

Key information about Uzbekistan Private Consumption Expenditure

• Uzbekistan Private Consumption Expenditure was reported at 17.375 USD bn in Sep 2024. This records a decrease from the previous number of 21.076 USD bn for Jun 2024.
• Uzbekistan Private Consumption Expenditure data is updated quarterly, averaging 12.498 USD bn from Mar 2016 to Sep 2024, with 35 observations.
• The data reached an all-time high of 22.089 USD bn in Dec 2023 and a record low of 7.821 USD bn in Mar 2018.
• Uzbekistan Private Consumption Expenditure data remains in an active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Private Consumption Expenditure: USD: Quarterly.

CEIC calculates quarterly Private Consumption Expenditure as the sum of Household and NPISHs Consumption and converts it into USD. State Committee of the Republic of Uzbekistan on Statistics provides year-to-date Private Consumption Expenditure in local currency based on SNA 2008. The Central Bank of the Republic of Uzbekistan average market exchange rate is used for currency conversions.

Key information about Spain Private Consumption Expenditure

• Spain Private Consumption Expenditure was reported at 243.070 USD bn in Dec 2024. This records a decrease from the previous number of 245.333 USD bn for Sep 2024.
• Spain Private Consumption Expenditure data is updated quarterly, averaging 191.073 USD bn from Mar 1995 to Dec 2024, with 120 observations.
• The data reached an all-time high of 251.866 USD bn in Jun 2008 and a record low of 84.802 USD bn in Sep 1997.
• Spain Private Consumption Expenditure data remains in an active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Private Consumption Expenditure: USD: Quarterly: Seasonally Adjusted.

CEIC converts quarterly Private Consumption Expenditure into USD. National Statistics Institute provides Private Consumption Expenditure in EUR. Federal Reserve Board average market exchange rate is used for currency conversions.

Key information about Mexico Private Consumption Expenditure

• Mexico Private Consumption Expenditure was reported at 321.016 USD bn in Sep 2024. This records a decrease from the previous number of 342.059 USD bn for Jun 2024.
• Mexico Private Consumption Expenditure data is updated quarterly, averaging 183.827 USD bn from Mar 1993 to Sep 2024, with 127 observations.
• The data reached an all-time high of 342.063 USD bn in Mar 2024 and a record low of 59.458 USD bn in Mar 1995.
• Mexico Private Consumption Expenditure data remains in an active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Private Consumption Expenditure: USD: Quarterly: Seasonally Adjusted.

CEIC converts quarterly de-annualised Private Consumption Expenditure into USD. The National Institute of Statistics and Geography provides annualised Private Consumption Expenditure in local currency. Federal Reserve Board average market exchange rate is used for currency conversions.

Consumer Electronics Market Outlook

The global consumer electronics market size was valued at approximately USD 1.1 trillion in 2023 and is projected to reach USD 1.8 trillion by 2032, growing at a CAGR of 5.9% during the forecast period. This considerable growth is driven by the rapid evolution of technology, which continually reshapes consumer preferences and expectations. Several growth factors, such as increasing disposable income, technological advancements, and burgeoning demand for smart devices, play pivotal roles in propelling the market forward. Consumers are increasingly seeking devices that offer connectivity, convenience, and enhanced capabilities, fostering robust market expansion.

Technological innovation serves as a major growth driver in the consumer electronics market. The continuous advancement in semiconductor technology has facilitated the development of smaller, more efficient, and more powerful electronic devices. As the Internet of Things (IoT) ecosystem expands, consumer electronics are becoming more interconnected, leading to growing demand for smart home devices, wearables, and other IoT-enabled products. Additionally, the integration of artificial intelligence (AI) and machine learning in consumer electronics has transformed user interaction, creating a more personalized and efficient user experience that further fuels market demand.

The increasing global penetration of smartphones and mobile internet is another significant factor contributing to the market's growth. As more consumers in emerging economies gain access to mobile devices and the internet, the demand for consumer electronics continues to surge. The proliferation of e-commerce platforms has also made it easier for consumers to purchase electronic products online, thereby expanding the market's reach. Moreover, the trend towards digitization and smart living in both developed and developing nations has spurred the adoption of modern consumer electronics, such as smart TVs, laptops, and wearable devices, which are crucial for connectivity and entertainment.

Environmental and sustainability concerns are also shaping the consumer electronics market. As awareness of the environmental impact of electronic waste grows, consumers and manufacturers are becoming more conscientious. This has led to the development and promotion of eco-friendly products and practices. Companies are investing in sustainable production processes and materials, which not only reduce environmental impact but also appeal to the growing demographic of environmentally-conscious consumers. This trend towards sustainability is a critical growth driver, as it aligns with broader societal shifts towards eco-friendly living.

Regionally, the Asia Pacific market is expected to experience the most rapid growth due to a combination of factors including a large consumer base, growing middle-class population, and increased urbanization. Countries like China and India are at the forefront of this expansion, driven by strong manufacturing bases and increasing consumer purchasing power. North America and Europe continue to hold significant market shares due to high adoption rates of advanced technologies and a strong emphasis on innovation. These regions are characterized by high consumer spending on electronics, which drives demand for the latest gadgets and smart devices.

Product Type Analysis

The product type segment of the consumer electronics market is diverse, encompassing a wide range of devices including smartphones, laptops, televisions, wearable devices, and others. Smartphones constitute a major portion of this segment, driven by their ubiquitous presence in daily life. The continuous innovation in smartphone technology, including the development of 5G networks, advanced camera systems, and AI integration, has sustained consumer interest and demand. Moreover, the frequent release cycles of new models by leading manufacturers incentivize consumers to upgrade their devices regularly, thereby maintaining robust market growth.

Laptops have also seen a resurgence in demand, particularly with the rise of remote work and education due to the COVID-19 pandemic. The need for portable, high-performance computing solutions has driven innovation and competition in the laptop segment. Manufacturers are focusing on delivering lighter, more energy-efficient devices with improved battery life and processing power. The integration of hybrid and convertible models has further expanded the appeal of laptops, catering to the needs of both professionals and students alike, who require versatile devices for various applicat