Market Overview
The global IT hardware market is projected to secure USD 107.03 Bn in 2021 while recording a CAGR of 18.4% during the forecast period. Expansion of the market can be attributed to the increasing demand for laptops and other related hardware. Besides, the growing demand for IT hardware among students for academic purposes is another salient cause propelling the industry in the forecast period. Moreover, surging investments in smart city projects in various countries are projected to be a vital factor augmenting the market size in the assessment period. For instance, in 2021, APG Algemene Pensioen Groep N.V announced USD 585 Mn to aid the “Smart City Infrastructure Fund”. Smart City Projects demand efficient IT hardware.
On the contrary, electronic waste is the biggest concern for the expanding industry acting as a significant challenge. Moreover, growing regulations regarding the recycle and disposal are other factors hindering the market expansion in the assessment period.
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Market Segmentation
The global IT hardware market can be segregated into types and applications.
- Based on type, the global IT hardware market can be segmented into PC hardware, PC peripherals, and Storage devices. As per the analysis, the PC Peripherals is expected to lead the global IT hardware segment. The segment is projected to secure a global market share of 52.4%.
- Based on application, the global IT hardware market can be segmented into Keyboard, Monitor, The central processing unit, Computer data storage, graphic card, sound card, and others. As per the analysis, computer data storage is predicted to garner significant market value during the forecast period. The segment is anticipated to expand at a CAGR of 8% during the forecast period.
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Regional Analysis
Based on region, the global IT hardware market can be segmented into North America, Europe, APAC, MEA, and South America. According to the analysis, North America is projected to dominate the global market. The region is anticipated to procure 31.9% of the global market share. Expansion of the regional market can be attributed to the presence of established players in the region. Among all, the U.S and Canada are projected to augment the regional market. The rapid adoption of hardware across several industries in the region has played a vital role in driving the regional market.
APAC is projected to expand at the fastest CAGR during the forecast period. Growth of the regional market can be attributed to the presence of the fastest developing nations such as India, China, Japan, and South Korea. Moreover, the government of various APAC countries is taking initiatives such as SMART City Projects, which is projected to grow the market in APAC in the forecast period. In addition, countries like Japan, having players like Toshiba are expected to make a significant contribution in augmenting the market in APAC during the forecast period.
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List of Key Players of Covered in the IT hardware market:
Key participants of the global IT hardware market are Apple Incorporation, Samsung Electronics, Quanta Computer Incorporation, Compal Incorporation, Toshiba Information Systems Corporation, Hewlett Packard Enterprise Company, Foxconn Technology Group, Acer Incorporation, Lenovo Group Limited, General Services Administration, HP Incorporation, Asustek Computer Inc., International Business Machines Corporation, Fujitsu Limited, among others.
Some of the recent key developments among the players are:
- In March 2022, Apple MacBook Air announced a refreshed-13-inch model launch by 2023. As per the reports, the latest Display Supply Chain Consultants (DSCC) quarterly reports indicate the 15-inch MacBook Air is likely to arrive by next year with the largest screen to date on a MacBook Air series laptop.
- Foxconn has resumed production of Apple products, including iPhone SE and MacBook Air, following a week-long lockdown manufacturing hub in Shenzhen.
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Some Points from Table of Contents of The Global IT Hardware Market: -
Global IT Hardware Market Growth, Trend and Forecast 2021-2028
Chapter 1 IT Hardware Market Overview
1.1 Product Overview and Scope of IT Hardware
1.2 IT Hardware Market Segmentation by Type
1.2.1 Global Production Market Share of IT Hardware by Type in 2020
1.2.1 Type 1
1.2.2 Type 2
1.2.3 Type 3
1.3 IT Hardware Market Segmentation by Application
1.3.1 IT Hardware Consumption Market Share by Application in 2020
1.3.2 Application 1
1.3.3 Application 2
1.3.4 Application 3
1.4 IT Hardware Market Segmentation by Regions
1.4.1 North America
1.4.2 China
1.4.3 Europe
1.4.4 Southeast Asia
1.4.5 Japan
1.4.6 India
1.5 Global Market Size (Value) of IT Hardware (2014-2028)
Chapter 2 Global Economic Impact on IT Hardware Industry
2.1 Global Macroeconomic Environment Analysis
2.1.1 Global Macroeconomic Analysis
2.1.2 Global Macroeconomic Environment Development Trend
2.2 Global Macroeconomic Environment Analysis by Regions
Chapter 3 Global IT Hardware Market Competition by Manufacturers
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