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Computers Market 2024 Competitive Landscape, Industry Analysis, Segmentation And Forecast To 2033
Computers Market Share
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According to The Business Research Company's, 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 in the historic period can be attributed to growing consumer demand, enterprise it spending, global economic conditions, government initiatives, innovation 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 growth in the forecast period can be attributed to cybersecurity concerns, sustainability initiatives, quantum computing developments, evolving form factors. Major trends in the forecast period include internet of things (iot), edge computing integration, ai and machine learning integration, hybrid cloud solutions, customization and personalization.
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Market Drivers and Trends:
The computer market is expected to be aided by rapid growth in investments in smart city projects in many countries globally. Smart city technologies use information and communication technologies to efficiently manage and operate urban services, including transportation systems, water supply and law and order. These technologies are enabled through IoT technology. IoT is a convergence of computing devices, mechanical and digital objects. This system facilitates the transfer of data over a network without human interaction and minimal human-to-computer interaction. Smart cities use computers and related hardware, thereby benefitting the companies operating in this market. APG Algemene Pensioen Groep N.V. announced an investment of €250 million in "Smart City Infrastructure Fund", for the development of smart city projects across North America, Europe, Australia and other major urban areas in the world. The concept of smart cities is becoming more popular in developing nations too. For instance, more than 1,000 smart city pilot projects are either ready for or are under construction globally and around 500 of these projects are in China.
The Internet of Things (IoT) is emerging as the next big trend in the computer market with the ability to create an impact across the business spectrum. The Internet of Things merged the physical and online worlds to open up a host of opportunities for companies, governments, and consumers. The IoT is a complex ecosystem with multiple players such as device vendors, communication service providers, software vendors, and IT service providers. For example, the August Smart Lock uses the Internet of Things platform to automatically lock and unlock the front door of a user's residence and can also remotely grant access to guests, friends or staff.
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Major Key Players of the Market:
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.
Computers Market 2024 Key Insights:
• 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%.
• Smart City Revolution Boon For The Computer Industry
• IOT Revolution Transforming The Computer Market Landscape
• Asia-Pacific was the largest region in the computers market in 2023
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