Thomas Alsop
Research expert covering the global hardware industry
Tech hardware - statistics & facts
The world of computing and tech hardware is a fast and ever-evolving market. The latest trends may prove redundant within just a few years as the market continues to innovate. Along the tech hardware value chain are several globally recognized players, including Apple, Nvidia, AMD, and Intel. However, competition is stiff, with tech firms across the world investing heavily to maintain their lead in the market and continuing to develop innovative products and services. As a result, many of the leading companies in the hardware industry are among the world’s largest and richest tech companies.
Tech hardware spending on the road to recovery
Despite inventory rebalances, a challenging economic environment, and a shifting consumer landscape, the tech hardware industry is adapting. While 2023 saw a dip in device spending, forecasts for 2024 show a modest rebound. This is likely driven by pent-up demand and new product launches, with AI at the heart of innovations.The new era of AI PCs to rejuvenate the market
The introduction of PCs capable of handling AI on-device, coupled with the beginning of a commercial refresh cycle, is a sign of hope for the global PC market. This is timely, particularly as the industry went through a period of inventory rebalance in 2023, contributing to a 15 percent fall in PC shipments during the year. However, with the global economy nearing recovery, so too has the PC market, with shipments finally showing signs of growth moving into 2024.Data center spending has remained positive
The growing demand for AI applications has driven the need for increased computing power and storage capacity. As a result, data centers are forecast to receive increased investment in 2024. Security and efficiency have been enhanced by the implementation of AI, processes that require specialized AI chips. Advanced applications such as 5G and generative AI will benefit from advancements in AI chip technology and the development of both hyperscale and edge data centers, specialized facilities located closer to end-users.Safeguarding the steady supply of semiconductors is a top priority
Governments and companies across the entire semiconductor supply chain have had to navigate changing demands, supply chain imbalances, and geopolitical factors. As a result, action plans and policies have had to be established to protect the supply of chips. Following a brief decline in 2023, the semiconductor industry must overcome new challenges as it surges once again in 2024, fueled by the AI boom and a recovering memory semiconductor market.The future of tech
As the tech industry continues to evolve at a rapid pace, the hardware market remains a cornerstone of innovation. From advanced tech infrastructure facilities to cutting-edge processors, the pursuit of performance and efficiency drives the development of new technologies that shape the digital world.Thomas Alsop
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Sep 13, 2024
Thomas Alsop
Research expert covering the global hardware industry
