Despite a global decline in tech device spending since the 2021 market peak, consumers worldwide are set to spend an astonishing $710 billion this year on PCs, tablets, and smartphones. This is just a fraction of the tech devices that the average consumer owns, and the number continues to rise. Over the past five years, the average number of devices and connections per person worldwide has increased from 2.4 to 3.6. North America leads in tech overconsumption, with significant regional variations.
According to data from AltIndex.com, Americans owned an average of 13.4 devices and connections per person last year, surpassing Europeans by four devices and Asians by four times.
Americans Lead in Tech Ownership, Europeans Top in Growth
The UN Trade and Development’s Digital Economy Report 2024 reveals that the increase in tech ownership is not just due to more people buying devices but also to individuals owning more devices. From 2018 to 2023, the global average number of devices per person rose from 2.4 to 3.6, with significant regional differences.
In a global context, Americans lead in tech ownership. Five years ago, the average American had about eight devices. By the end of 2023, this number surged by 63% to 13, giving Americans four more devices than Europeans and four times more than Asians.
While Americans lead in overall tech ownership, Europeans have experienced the highest growth rate. Between 2018 and 2023, the average number of devices per European increased by 68%, from 5.6 to 9.4.
Other regions saw varying growth. Central and Eastern Europe saw a 60% increase, with the number of devices rising from 2.5 to 4. Latin America experienced a 40% increase, with devices rising from 2.2 to 3.1. Asia and the Pacific had 3.1 devices per person in 2023, a 47% increase over five years.
The Middle East and Africa, with the fewest tech devices, saw the smallest growth, with devices per capita rising from 1.1 to 1.5 between 2018 and 2023.
IoT Devices to Drive Future Tech Ownership Growth
The Digital Economy Report predicts that the Internet of Things (IoT) devices, including sensors, connected vehicles, consumer electronics, and wearables, will drive future growth in tech ownership.
In 2021, IoT devices exceeded conventional devices like PCs, tablets, and smartphones, with 9.2 billion connections worldwide. This number is expected to surpass 18.8 billion in 2024 and double to nearly 40 billion by 2028, with consumer IoT connections accounting for over half of this growth.
