The global spending on these end-user devices is expected to grow from USD 587.2 billion in 2016 to USD 599.13 billion in 2017 and further rise to USD 627.16 billion in 2019, Gartner said in a report.
US job growth surged in June as factories and retailers boosted hiring, confirming the economy has regained speed after a first-quarter lull, but tepid wage growth could see the Federal Reserve still cautious about hiking interest rates
The rise was driven by growth in consumer spending, mainly on services like health care and transport
Polaris Industries Inc's relaunch this month of the Indian motorcycle, a storied US brand older than Harley-Davidson, has pulses racing on and off Wall Street.
The economists predict that the US economy will grow 2.4 percent this year and 3 percent next year. That`s unchanged from their forecast in February.
The US economy slowed as expected in the first quarter, but a less robust pace of consumer spending and export growth than previously estimated could dampen the economic outlook for the current period.
Growth in US manufacturing unexpectedly cooled in February and consumer spending was flat in January for the third straight month after accounting for inflation, casting a pall over the economic outlook.
Even as there is a talk of a possible slowdown in consumer spending amid continued high inflation and the stock markets are in turmoil, FMCG companies have been slowly raising product prices, especially in soaps & detergents and personal care products.
US consumer spending dropped in June for the first time in nearly two years as incomes barely rose, suggesting economic growth could remain subdued in the third quarter.
Inflation continued to play an important role in consumer spending indicating that buyers in India are likely to become more selective this year, according to a report by the Boston Consulting Group (BCG).
Tesco, the world's third-biggest retailer, missed forecasts with a second quarterly fall in underlying sales in its home market, as rising prices and government cutbacks hit British shoppers.
US economic growth braked sharply in the first quarter as higher food and gasoline prices dampened consumer spending, and sent a broad measure of inflation rising at its fastest pace in 2-1/2 years.