Press release
Steady Expansion Forecast for Computer Hardware Market, Projected to Reach $972.16 Billion by 2029
Computer Hardware
How Large Will the Computer Hardware Market Size By 2025?
In recent years, there has been a substantial growth in the size of the computer hardware market. This market is predicted to expand from $714.77 billion in 2024 to $760.98 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.5%. The historic growth of this market can be linked to the surge in personal computing revolution, expansion of global supply chains, the internet revolution, growth in data centers, and advancements in operating systems.
How Big Is the Computer Hardware Market Size Expected to Grow by 2029?
The anticipated expansion in the computer hardware market size over the upcoming years is quite robust, with projections reaching $972.16 billion by 2029 and a compound annual growth rate (CAGR) of 6.3%. Factors contributing to this growth during the forecast period include the surge in remote working arrangements, environmentally-friendly hardware protocols, the construction of intelligent cities, initiatives supporting digital transformation, and the increase of remote employment. Future market trends to note include the adoption of edge computing, integration of Artificial Intelligence and machine learning, systems that are modular and upgradeable, incorporation of biometric security, and hybrid and multi-cloud environments.
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Which Key Market Drivers Powering Computer Hardware Market Expansion and Growth?
The anticipated surge in investments in smart city projects across various global regions is expected to boost the computer hardware market. Smart city technologies use communication and information technologies to efficiently manage various urban services including water supplies, law enforcement and transportation systems, all of which are enabled through IoT technology. IoT is a merging of computing devices and digital and mechanical objects that allows information exchange over a network without the need for human interference and with limited human-computer interaction. The use of computers and related hardware by smart cities is advantageous to firms operating in this market. For example, Eurazeo, a French investment firm announced the second closing of its Smart City II Venture Fund at €150 million in January 2022, gaining new corporate and institutional partners from Europe and Asia. The idea of smart cities is also gaining traction in emerging economies.
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Which Fast-Growing Trends Are Poised to Disrupt the Computer Hardware Market?
Numerous tech firms are launching tablets as potential replacements for laptop computers. Factors such as portability, easy connections to 3G and 4G networks, and their lightweight nature have led to a surge in preference for tablets. A study by Nielsen revealed that less than a third of the surveyed tablet owners suggested a reduction or total cessation in their desktop use. This dropping trend in desktop computer usage is pushing computer hardware producers to focus on the development and manufacturing of tablet computers.
What Are the Emerging Segments in 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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Who Are the Global Leaders in the Computer Hardware Market?
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
Which are the Top Profitable Regional Markets for the Computer Hardware Industry?
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.
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