Gartner is projecting 4.9% growth for the worldwide PC market for 2024, with growth expected in both the business and consumer segments
Worldwide PC shipments totaled 64.3 million units in the third quarter of 2023, a 9% decrease from the third quarter of 2022, according to preliminary results by Gartner, Inc. While the third quarter’s results mark the eighth consecutive quarter of decline for the global PC market, Gartner is expecting to see growth again starting in the fourth quarter of this year.
“There is evidence that the PC market’s decline has finally bottomed out,” said Mikako Kitagawa, Director Analyst at Gartner. “Seasonal demand from the education market boosted shipments in the third quarter, although enterprise PC demand remained weak, offsetting some growth. Vendors also made consistent progress towards reducing PC inventory, with inventory expected to return to normal by the end of 2023, as long as holiday sales do not collapse.”
The top vendors in the worldwide PC market remained unchanged in the third quarter of 2023, with Lenovo maintaining the No. 1 spot in shipments with 25.1% market share.
While Lenovo once again saw a year-over-year decline in shipments, it was eased to a single digit decrease. Meanwhile, HP was the only vendor to exhibit year-over-year growth, with shipments increasing across all regions. Dell reported a sixth consecutive quarter of shipment decline, impacted by weak enterprise PC demand given its a strong presence in the market.
Apple's shipments declined sharply compared to a year ago, in part because its shipment volume increased significantly in 3Q22 once supply disruptions from earlier in 2022 due to China's lockdown had eased. In the third quarter of 2023, Apple’s shipments followed seasonal trends, primarily driven by demand from students and educators.
“The good news for PC vendors is that that the worst could be over by the end of 2023,” said Kitagawa. “The business PC market is ready for the next replacement cycle, driven by the Windows 11 upgrades. Consumer PC demand should also begin to recover as PCs purchased during the pandemic are entering the early stages of a refresh cycle.”
Gartner is projecting 4.9% growth for the worldwide PC market for 2024, with growth expected in both the business and consumer segments.