Press release
Computer Hardware Market Anticipated To Witness Robust Growth, Surpassing $972.16 Billion By 2029
Computer Hardware
How Big Is the Computer Hardware Market Size Expected to Be by 2034?
The market size of computer hardware has witnessed robust growth in the preceding years. The sector is projected to expand from $714.77 billion in 2024 to $760.98 billion in 2025 at a compound annual growth rate (CAGR) of 6.5%. This historical growth is linked with the rise in personal computing, internationalization of supply chains, the advent of the internet, expansion of data centers, and advancements in operating systems.
The size of the computer hardware market is projected to experience significant expansion in the upcoming years, with an expected value of $972.16 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.3%. The anticipated growth within this timeframe can be linked to the increasing remote work infrastructure, implementation of sustainable hardware procedures, development of smart cities, digital transformation efforts, and the surge of remote work. Key trends expected within this forecast period include the rise of edge computing, the incorporation of AI and machine learning, the use of modular and upgradeable systems, the integration of biometric security, as well as the use of hybrid and multi-cloud environments.
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What Are the Emerging Segments Within the Computer Hardware Market?
The computer hardware market covered in this report is segmented -
1) By Type: Computer Peripheral Equipment, Computer Storage Devices And Servers, Computers
2) By Distribution Channel: Online, Offline
3) By End-User: Household, Commercial
Subsegments:
1) By Computer Peripheral Equipment: Keyboards And Mice, Monitors, Printers And Scanners, Speakers And Headsets
2) By Computer Storage Devices And Servers: Hard Disk Drives (HDD), Solid State Drives (SSD), Network Attached Storage (NAS), Servers (Rack-Mounted, Blade Servers)
3) By Computers: Desktops, Laptops, Workstations, All-In-One PCs
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What Long-Term Drivers Are Shaping Computer Hardware Market Trends?
The anticipation of significant growth in investments toward smart city initiatives across various global locales is expected to propel the computer hardware market forward. Smart cities rely on information and communication technologies to effectively control and run city services such as water distribution, transportation systems, and law enforcement. They utilise Internet of Things (IoT) technology to realise this, a fusion of computer devices, digital and mechanical components. The system makes it possible for data to be transferred across networks without needing human intervention nor significant computer-human interaction. Consequently, the growth of smart cities increases the use of computers and related hardware, which can be advantageous for companies within this market. For example, in January 2022, Eurazeo, a France-based investment firm, reported the second closing of its Smart City II Venture Fund with €150 million. This attracted new corporate and institutional partners from Europe and Asia. The idea of smart cities is gaining traction in emerging economies as well.
Who Are the Top Competitors in Key Computer Hardware Market Segments?
Major companies operating in the computer hardware market include Amazon.com Inc., Apple 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
What Are the Major Trends Shaping the Computer Hardware Market?
A significant number of tech firms are launching tablet devices as substitutes for laptop computers. The key factors driving people towards tablet adoption include portability, compatibility with 3G and 4G networks, and the devices' lightweight nature. A study conducted by Nielsen reveals that less than a third of tablet owners surveyed predict little to no future desktop usage. This declining preference for desktop computers is motivating computer hardware companies to shift their focus towards designing and manufacturing tablet computers.
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Which Regions Are Becoming Hubs for Computer Hardware Market Innovation?
North America was the largest region in the computer hardware market in 2024. 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Computer Hardware Market?
2. What is the CAGR expected in the Computer Hardware Market?
3. What Are the Key Innovations Transforming the Computer Hardware Industry?
4. Which Region Is Leading the Computer Hardware Market?
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