The global computer hardware market size is expected to reach
around $240 billion by 2021, growing at a compound annual growth rate (CAGR) of
almost 7%. The computer hardware market is one of the major segments of the
global information technology industry.
The creation of smart cities is one of the major factors
driving the global computer hardware market in the forecast period. A smart
city is defined as an urban area which uses different types of electronic data
collection sensors to supply information that can be used to manage assets and
resources efficiently. Governments around the world are investing heavily in
the creation of smart cities thereby increasing the potential of the computer
hardware industry. For instance, the European Union is actively promoting
smart-city initiatives, with funds for research and sustainability targets for their
member states. The concept of smart cities is becoming more popular among developing
nations too. In China and India alone almost 300 smart-city pilots are
currently planned. The creation of smart cities increases the requirement for
advanced software and technology for effective functioning. The overall
smart-city experience involves systems and objects interconnected through
various technologies, like local, wide and wireless networks. The integration
of software with hardware system, in turn increases the demand for computers,
computer peripherals, and servers, thereby driving the computer hardware market
globally.
However, changing customer demands can restrict the growth
potential of the computer hardware market. Understanding and producing suitable
applications and services in line with customer expectations is a major
challenge for the information technology industry, thus restraining the overall
computer hardware market. For example, customers are increasingly shifting
their preferences from desktops and laptops to tablets and smartphones, thereby
impacting the investment cycle, product release cycle and logistics of computer
manufacturers.
Find TBRC’s report on the computer hardware market: https://www.thebusinessresearchcompany.com/report/computer-hardware-global-market-report-2018
Companies operation in the information technology industry, are
introducing large tablets to replace laptop computers. Users are also replacing
their desktops, laptops and e-readers with tablets. 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.
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