A decade of unbridled innovation and growth in the tech industry could be coming to an end as it appears consumers are less inclined to purchase new technology this year.
New findings from Accenture make sobering reading, as they appear to show consumers are less inclined to purchase new technology than they were 12 months ago.
As the world’s tech industry reveals new gear at CES in Las Vegas, there are other troubling signs, as well as the Accenture research.
In recent days, Nikkei reported that Apple is aiming to cut production on the iPhone 6s and 6s Plus by 30pc in the first quarter of 2016 because inventory has piled up at retailers across the world.
Apple is believed to have originally told its suppliers to continue Q1 2016 production of the iPhone 6s and iPhone 6s Plus at the same rate as the iPhone 6 and iPhone 6 Plus a year prior, but waning sales led the company to change its plans.
Smartphones have reached saturation point
In recent weeks, IDC warned that smartphone sales are also likely to plummet significantly. It said that, after a decade of unstoppable growth, the global smartphone market will finally slow to single-digit growth in 2015. When the figures for 2015 are finally tallied, IDC has predicted that worldwide smartphone shipments will grow 9.8pc in 2015 to a total of 1.43bn units.
But not only have markets like smartphones reached saturation point, the Accenture study shows that the pace of innovation may also have slowed.
Many of the latest smartphones lack killer features to convince the average consumer to upgrade.
Some 47pc of those who don’t plan to buy a new smartphone this year stated that they are happy with their current device and see no need to upgrade.
Not only this, but smartwatches, fitness trackers and other connected devices have as yet failed to make an impression on the broad public.
Less than 15pc of those polled by Accenture plan to buy smartwatches, fitness trackers and other connected devices being hailed as the next big thing.
You will find more statistics at Statista
Broken smartphones image via Shutterstock
Get your early bird tickets now!