Modest recovery predicted for global PC market in 2024

The global PC market is anticipated to experience a modest recovery in 2024, according to a new forecast from CONTEXT, a global market intelligence firm. Following significant declines post-pandemic, industry stabilisation is on the horizon as both consumers and businesses adapt to evolving economic conditions and product cycles.

CONTEXT projects that the growth in PC shipments will be underpinned by an increased demand for replacement devices and technological enhancements. The record-breaking sales in 2020 and 2021 were followed by a steep decline as consumers reduced purchases and businesses postponed upgrades. Nevertheless, a more balanced supply-demand environment is expected in 2024, driven by advanced computing requirements potentially catalysing market momentum.

The desktop market is forecasted to witness improvement over the next two quarters, with stronger growth prospects projected for 2025. CONTEXT estimates that unit sales will fluctuate between a 3.6% decline and a 4.6% year-on-year growth in the third quarter of 2024. Meanwhile, the mobile segment is set to experience moderate growth, particularly within the notebook and tablet categories, despite Europe's slow economic recovery.

"We are seeing signs that the worst of the PC market downturn is behind us. While the past couple of years have been challenging, we expect gradual recovery in 2024 as businesses refresh their hardware and consumers seek better performance," said Marie-Christine Pygott, Senior Analyst at CONTEXT. "The demand for high-performance devices will grow as workloads evolve, especially in hybrid work environments."

The business sector is poised to be a crucial driver of the PC market's recovery. Companies that delayed hardware upgrades due to economic uncertainties are now looking to invest in new devices. Additionally, advancements in artificial intelligence and high-performance computing necessitate next-generation devices, bolstering demand in this area.

"While corporate demand is increasing, the consumer segment is expected to face challenges, with extended device lifespans and reduced discretionary spending. However, premium devices targeting gamers and content creators are projected to outperform other categories," Marie-Christine Pygott added.

Despite the challenges observed in recent years, the PC market is on a path to gradual recovery throughout 2024. Businesses upgrading their hardware and heightened demand for high-performance devices, particularly in hybrid work settings, are identified as key factors contributing to this positive outlook. The insights from CONTEXT signify a potential stabilisation and eventual growth in the global PC market.