The pandemic made life challenging for many of us, but it was an incredibly productive period for technology companies. Billions of people worldwide, confined to their homes, shopped voraciously, filling the coffers of tech giants with billions of dollars. Naturally, this situation significantly impacted the markets, causing figures in reports to skyrocket. One of these booming markets was the global PC market. However, according to a report published by Counterpoint, the market continued to normalize in Q3 2023. Here are the details…
PC Shipments Expected to Return to Pre-COVID-19 Levels in 2024
Global PC shipments continued to normalize in Q3 2023, declining 9% year-over-year but marking the second straight quarter of sequential growth. The market is still weighed down by weak demand amid a slowdown in consumer and enterprise purchases, but there are signs of a recovery on the horizon. HP had a resilient quarter, with shipments registering mid-single digit year-over-year growth.
The company benefited from robust consumer and educational demand. Lenovo also outperformed most PC OEMs, with shipments seeing a single digit percentage year-over-year decline. Other tier 1 PC vendors such as Dell, Apple, and Asus struggled to find strong shipment drivers in Q3 2023.
However, analysts are optimistic that the PC market has already bottomed out and that we can expect a gentle shipment recovery over the next few quarters. One of the key drivers of PC shipment growth in 2024 is expected to be AI-enabled PCs. AI PCs are equipped with specialized hardware and software that enable them to perform artificial intelligence tasks more efficiently and effectively. AI PCs are still in their early stages of development, but they have the potential to revolutionize the way we use computers.
AI PCs could be used for a wide range of applications, including video editing, photo editing, gaming, and scientific research. Analysts expect AI PCs to have a 50% compound annual growth rate from 2020 to 2026. By 2026, AI PCs are expected to dominate the PC market with an expected penetration rate of more than 50%. In addition to AI PCs, other factors that are expected to drive PC shipment growth in 2024 include the Windows 11 replacement cycle and the next wave of Arm PCs.
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(source)
