Infographic: Consumers Spend More on Technology Than Home Utilities

Move over, essential home utilities. A recent study conducted by iYogi Insights (a research initiative that explores the integration of technology into consumers' daily lives) has shown that spending on technology, which includes devices, online services, Internet connectivity and multimedia entertainment, has now surpassed utility costs for a majority of consumers. 63% of the study's respondents spend almost 35% more on technology than gas and electricity bills.

What the research reveals is that staying connected is quickly climbing up the ladder of "basic" needs for today's consumers. Case in point? Of the study's participants, it was discovered that an average family of 3 or more owns 10-11 Internet-enabled devices. Unsurprisingly, researchers have predicted that consumers' dependency on technology, as demonstrated through studies such as these, will only continue to skyrocket in years to come.

The infographic below captures the key findings from the study:

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