Computer Hardware Global Market Report 2024

The computer hardware market size has grown strongly in recent years. It will grow from $674.44 billion in 2023 to $710.32 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth observed in the historical period can be attributed to factors such as the increasing personal computing revolution, the globalization of supply chains, the rise of the internet, the expansion of data centers, and advancements in operating systems.

The computer hardware market size is expected to see strong growth in the next few years. It will grow to $914.55 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The anticipated growth in the forecast period can be attributed to factors such as the growing infrastructure for remote work, the adoption of sustainable hardware practices, the development of smart cities, digital transformation initiatives, and the continued rise of remote work. Major trends expected in the forecast period include the implementation of edge computing, integration of AI and machine learning, the use of modular and upgradeable systems, integration of biometric security, and the adoption of hybrid and multi-cloud environments in the field of computer hardware.

The computer hardware market is poised to benefit from the substantial growth in investments directed towards smart city projects globally. These projects leverage information and communication technologies to efficiently manage urban services, incorporating IoT technology. IoT, a convergence of computing devices and digital objects, facilitates data transfer over networks with minimal human interaction. Companies operating in this market stand to gain from the surge in smart city initiatives. Notably, APG Algemene Pensioen Groep N.V. committed an additional €500 million ($585 million) to the "Smart City Infrastructure Fund" in 2021 for the development of smart city projects across various regions, reflecting the increasing popularity of smart city concepts, even in developing nations. Over 1,000 smart city pilot projects are either ready or under construction globally, with around 500 in China alone.

The ascending trajectory of the information technology industry is anticipated to drive the growth of the computer hardware market. Playing a pivotal role in designing, manufacturing, deploying, managing, and maintaining hardware components and systems, information technology is a significant contributor to the sector. In 2021, the technology sector generated 8.5% of the GDP, underscoring its vital role and impact. Consequently, the thriving information technology industry becomes a driving force behind the computer hardware market.

The computer hardware market faces challenges stemming from the escalating issue of electrical and electronic waste (e-waste). E-waste, currently the fastest-growing waste stream, poses environmental and health hazards. Regulations regarding e-waste recycling and disposal are on the rise, and the lack of standardized legislation and enforcement further compounds the challenge. Globally, close to 50 million tons of e-waste are generated annually, contributing to environmental and health concerns. The regulatory landscape and management practices related to e-waste represent potential threats to the market.

A notable trend impacting the computer hardware market is the increasing preference for tablets over traditional laptop computers. Driven by factors such as portability, 3G and 4G connectivity, and lightweight design, tablets have become a popular choice among consumers. A Nielsen study indicates a declining trend in desktop usage among tablet owners, signaling a shift in consumer preferences. This shift encourages computer hardware manufacturers to focus on designing and producing tablets, adapting to changing user behaviors.

Major players in the computer hardware market are introducing innovative products to boost market revenues. One such example is AMD, a US-based semiconductor company, launching the Ryzen 5 7500F desktop processor in July 2023. This powerful processor, offering excellent performance for its price, targets budget-conscious gamers and professionals. With features such as a base clock of 3.7 GHz, a maximum boost clock of up to 5.0 GHz, support for dual-channel DDR5 memory, and 24 usable PCIe 5.0 lanes, the Ryzen 5 7500F exemplifies the industry's commitment to innovation.

Major companies operating in the computer hardware market report are Amazon.com Inc., Apple Inc., Alphabet Inc., Samsung Electronics Co. Ltd., Hon Hai Precision Industry, Microsoft Corporation, Dell Technologies Inc., Hitachi Ltd., Sony Corporation, Lenovo Group Limited, LG Electronics Inc., Intel Corporation, HP Inc., Qualcomm Incorporated, Pegatron Corp., Quanta Computer Inc., Broadcom Inc., Canon Inc., Fujitsu Limited, NVIDIA Corporation, NEC Corporation, Advanced Micro Devices Inc., Toshiba Corporation, Texas Instruments Incorporated, Western Digital Corporation, Inventec Corp., Seagate Technology Holdings PLC, Acer Inc., NetApp Inc., ASUSTeK Computer Inc., Micron Technology Inc., Applied Materials Inc., Lam Research Corporation.

North America was the largest region in the computer hardware market in 2023. Asia-Pacific was the second largest region of the computer hardware market. Africa was the smallest region in the global computer hardware market. The regions covered in the computer hardware market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the computer hardware market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.

The main types of computer hardware include computer peripheral equipment, computer storage devices, servers, and computers. Computer peripheral equipment comprises devices, including sensors, used to input information and instructions into a computer for storage or processing. It also facilitates the delivery of processed data to the operator or to a machine controlled by the computer. These hardware components can be distributed through various channels, including online and offline, and cater to end-users in both households and commercial settings.

The computer hardware market research report is one of a series of new reports that provides computer hardware market statistics, including computer hardware industry global market size, regional shares, competitors with a computer hardware market share, detailed computer hardware market segments, market trends and opportunities, and any further data you may need to thrive in the computer hardware industry. This computer hardware market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The computer hardware market includes revenues earned by entities by consists of sales of personal computers (PCs), laptops and tablets, computer storage devices, peripheral equipment, etc. The computer hardware market includes servers and processors but does not include embedded systems used in automobiles and manufacturing plants. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included.


The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.