Major companies in the computer hardware market include HP; Apple and IBM. The global computer hardware market is expected to grow from $862. 93 billion in 2020 to $944. 09 billion in 2021 at a compound annual growth rate (CAGR) of 9.
New York, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Computer Hardware Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06018823/?utm_source=GNW
4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1178.15 billion in 2025 at a CAGR of 6%.
The computer hardware market consists of sales of computer hardware and related services by entities (organizations, sole traders and partnerships) that provide computer hardware including personal computers (PCs), laptops and tablets, computer storage devices, peripheral equipment, etc. The computer hardware market includes servers and processors but does not include embedded systems used in automobiles and manufacturing plants. The computer hardware market is segmented into computer peripheral equipment; computer storage devices and servers; and computers.
North America was the largest region in the global computer hardware market, accounting for 43% of the market in 2020. Asia Pacific was the second largest region accounting for 29% of the global computer hardware market. Africa was the smallest region in the global computer hardware market.
Many technology companies are introducing tablets to replace laptop computers. Portability, ability to connect to 3G and 4G networks, and the light weight of these devices are the major reasons for individuals increasingly opting for tablets. According to a Nielsen study less than one-third of tablet owners surveyed indicated that their desktop usage will be limited or not at all. This decreasing usage of desktop computers is encouraging computer hardware manufacturers to design and produce tablet computers.
Electrical and electronic waste (e-waste) is currently the largest growing waste stream and rising regulations regarding its recycle and disposal are likely to hinder the growth of the computer hardware market. E-waste is hazardous and expensive to treat in an environmentally sound manner, and there is a general lack of standardized legislation or enforcement regarding e-waste. Close to 50 million tons of e-waste is generated globally every year and this e-waste is generally discarded in the general waste stream. Within these regions, e-waste is recycled using rudimentary techniques. E-waste has adverse environmental and health implications, for example, e-waste represents only 2% of solid waste in landfill globally but it accounts for up to 70% of the hazardous materials. Safety and health issues, labor issues and regulatory frameworks related to the management of e-waste can be a threat to this market going forward.
The computer hardware market is expected to be aided by rapid growth in investments in smart city projects in many countries globally. Smart city technologies use information and communication technologies to efficiently manage and operate urban services including transportation systems, water supply and law and order. These technologies are enabled through IoT technology. IoT is a convergence of computing devices, mechanical and digital objects. This system facilitates the transfer of data over a network without human interaction and minimal human to computer interaction. Smart cities use computers and related hardware, thereby benefitting the companies operating in this market. In 2018, APG Algemene Pensioen Groep N.V. announced investment of €250 million in “Smart City Infrastructure Fund”, for development of smart city projects across North America, Europe, Australia and other major urban areas in the world. The concept of smart cities is becoming more popular in developing nations too. For instance, more than 1,000 smart city pilot projects are either ready for or are under construction globally and around 500 of these projects are in China.
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