Computers Global Market Report 2024

The computers market size has grown strongly in recent years. It will grow from $423.24 billion in 2023 to $448.76 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth observed in the historical period can be attributed to factors such as growing consumer demand, increased enterprise IT spending, global economic conditions, government initiatives, and innovations in design.

The computers market size is expected to see strong growth in the next few years. It will grow to $603.91 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The anticipated growth in the forecast period can be attributed to factors such as increasing concerns about cybersecurity, sustainability initiatives, developments in quantum computing, and evolving form factors. Major trends expected in the forecast period include the integration of the Internet of Things (IoT), the incorporation of edge computing, integration of artificial intelligence (AI) and machine learning, adoption of hybrid cloud solutions, and emphasis on customization and personalization in the field of computers.

The computer market is poised for growth, driven by significant investments in smart city projects globally. These initiatives utilize information and communication technologies, facilitated by the Internet of Things (IoT), to efficiently manage urban services. IoT, a convergence of computing devices and digital objects, enables data transfer across networks with minimal human interaction. Companies operating in this market stand to benefit from the increasing popularity of smart cities. Notably, APG Algemene Pensioen Groep N.V. announced a €250 million investment in the "Smart City Infrastructure Fund" for smart city projects worldwide, reflecting the widespread adoption of this concept, even in developing nations with over 1,000 pilot projects underway globally.

The computer market is set to receive a boost from the rising demand in the information technology (IT) industry. The IT sector, involved in creating, managing, and applying technology, enhances the functionality of computer systems. Integrating IT solutions enables computers to perform tasks more efficiently. As of August 2022, the technology sector contributed 8.5% to the GDP in 2021, indicating the industry's significant impact on the computer market.

However, the computer market faces challenges due to anticipated interest rate increases, particularly in developed nations such as the USA and Europe. Higher interest rates can make it more challenging and expensive for computer manufacturing companies to secure the necessary capital for operations, innovation, and expansion. The economic impact, including changes in profit margins, cost structures, and expansion strategies, is expected to affect businesses in the computer market. For instance, an expected interest rate increase by the USA Federal Reserve in 2021 may hinder the operation and expansion of businesses in the computer market.

The Internet of Things (IoT) emerges as a pivotal trend in the computer market, transforming the business landscape. IoT integrates the physical and online worlds, presenting opportunities for companies, governments, and consumers. This complex ecosystem involves various players such as device vendors, communication service providers, software vendors, and IT service providers. Noteworthy examples include the August Smart Lock, an IoT-enabled device that seamlessly locks and unlocks doors, showcasing the potential of IoT in enhancing convenience and security.

Innovative product introductions play a crucial role in the competitive landscape, with major computer companies unveiling advanced laptops such as the 15-inch MacBook Air with M2 chip. This powerful and versatile laptop, launched by Apple in January 2023, boasts improved performance, power efficiency, and features such as a spacious liquid retina display, 8GB unified memory, 512GB SSD storage, a 1080p FaceTime HD camera, and Touch ID.

In July 2022, Douglas Electrical Components Inc., a US-based company specializing in electrical components and systems, acquired Electronic Products Inc. (EPI). This undisclosed acquisition aims to enhance innovation, service quality, and provide a broader spectrum of hermetic solutions. EPI, a US-based company manufacturing computers, aligns with Douglas's commitment to delivering high-value hermetic goods and services to a diverse clientele.

Major companies operating in the computers market report are Inventec Corp., Apple Inc., Alphabet Inc. (Google), Samsung Electronics Co. Ltd., Microsoft Corporation, Hon Hai Precision Industry, Dell Technologies Inc., Lenovo Group Limited, HP Inc., TD Synnex Corp., Pegatron Corp, Quanta Computer, Hewlett Packard Enterprise Co., NVIDIA Corporation, Insight Enterprises Inc., NetApp Inc., Cambex Corp., Logitech International SA, Super Micro Computer Inc., Scansource Inc., PC Connection Inc., Canaan Inc., 3D Systems Corp., Key Tronic Corp., Climb Global Solutions Inc., AstroNova Inc., One Stop Systems Inc., TransAct Technologies Inc., Radcom Ltd., Ebang International Holdings Inc. Asia-Pacific was the largest region in the computers market in 2023. North America was the second largest region in computers market. The regions covered in the computers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The main types of computers include PCs, laptops, tablets, and other computing devices. A PC, or personal computer, is a versatile and cost-effective computer designed for individual users. These computers are distributed through business-to-business (B2B) and business-to-consumer (B2C) channels and are utilized in various applications, including households and commercial settings.

The computers market research report is one of a series of new reports that provides computers market statistics, including computers industry global market size, regional shares, competitors with a computers market share, detailed computers market segments, market trends and opportunities, and any further data you may need to thrive in the computers industry. This computers 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 countries covered in the computers 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 computers market consists of sales of computers which are programmable electronic devices designed to accept data, perform prescribed mathematical and logical operations at high speed, and display the results of these operations. 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.