Hispanics Market Will Spend $56 Billion On Telecommunications, Says Insight Research Corp.
In 2009, U.S. ethnic communities will spend $56.6 billion on telecommunications services, accounting for nearly one-third of all residential telecom expenditures, according to a new market research study from The Insight Research Corporation. The largest minority group, Hispanics, representing 15.7 percent of the total U.S. population, will spend the most. The ability to tap into the increased spending power of the Hispanic-American, African-American, and Asian-American communities will be crucial to the survival of telecommunications providers over the next five years.
Insight Research's market analysis study, "US Hispanic Use of Telecommunications Services 2009-2014," takes a close look at the purchasing habits and telecommunications usage patterns of the Hispanic segment of the U.S. population. The study emphasizes that the U.S. Latino market tends to over-index in mobile content consumption. The study further reports that 64.2 percent of all Hispanic respondents now have cell phones, that Hispanics' average monthly household expenditures on cell phone service was more than 55 percent higher than the average household spend on wireline services, and that they are avid users of mobile phone technology.
"The Obama presidential campaign successfully tapped the power of technology to get out the vote-especially in our minority communities," says Robert Rosenberg, Insight Research. "Our study demonstrates that Hispanics are one of the most social groups online. There are over 20 million Hispanics online today, they continue to grow faster than other groups, and they are more youthful, which makes them a prime target for the newer 3G and 4G cellular services," Rosenberg concluded.
"US Hispanic Use of Telecommunication Services 2009-2014" examines spending and usage patterns of US Hispanics for wireline, calling cards, cellular, and pre-paid cellular services, and compares these spending patterns to those of the general population as well as other minority segments, including Asian-Americans and African-Americans.
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