The for 2012 is $114 billion more than was spent in 2011, a growth trend the researcher expects will continue over the next five years. Gartner expects spending on consumer technologies and services will grow by $130 billion worldwide a year through 2016, when it projects that it will reach $2.7 trillion. "The three largest segments of the consumer technology market are, and will continue to be, mobile services, mobile phones and entertainment services," said Gartner analyst Amanda Sabia in a statement.

Consumer spending on mobile apps stores and e-text content is expected to triple by 2016 -- from $18 billion in 2012 to $61 billion, Sabia added. Spending on e-text content (e-books, online news, magazines and information services) will rise from $5 billion in 2012 to $16 billion by 2016, she said.

Mobile phones will account for 10% or $222 billion of the total consumer tech market in 2012. The total is expected to climb to almost $300 billion by 2016.

Entertainment services, including cable, satellite, IPTV and online gaming is expected to grow from $210 billion this year to almost $290 billion in 2016, according to Gartner.

"Our research consistently shows that consumers are willing to pay for content they deem 'worth it'," Sabia said.