Market Size of North America IT Device Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 1.60 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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North America IT Device Market Analysis
The North American IT device market is expected to register a CAGR of 1.6% for the next five years. The growing laptop and mobile penetration is expected to boost the North American IT device market for the forecast period. Also, the purchasing power of the people in this region is a determinant of growth.
- The disposable income of the United States is greater than that of any other country in the world. There is a chance for growth in the IT device sector in high-income countries. Furthermore, higher-income countries such as the United States and Canada are leading in the adoption of new, upgraded technologies and capacity ownership.
- The United States is in the lead when it comes to cloud adoption. Cloud usage will continue to increase over the next few years due to businesses' need for adaptable IT infrastructure to respond to market developments quickly. This increase in cloud usage would result in a surge in demand for mobile phones, laptops, and cloud-based services that support cloud-based applications.
- In the North American IT device industry, there was a significant mismatch between the supply and demand for chips or semiconductors, which started during the time of the COVID-19 pandemic. Smartphone and laptop manufacturers were impacted because of this shortage. One of the worst-hit corporations was Apple, the largest chip importer in the world, which delayed the release of the iPhone 12 last year.
- Moreover, the need for supercomputing platforms is rising quickly in the North American region, but more funds are needed to invest in technology. In the United States, there is an increasing demand for the computing capacity that supercomputers provide. Frontier, the United States-based supercomputer with a LINPACK benchmark score of 1.102 ExaFlop/s, is the quickest supercomputer on the TOP500 supercomputer list as of May this year. Fugaku is the next fastest supercomputer. Five of the top ten are owned by the United States; China owns two; and one each is owned by Japan, Finland, and France.
- Desktops, laptops, and workstations will continue to be impacted by component shortages and transportation issues through the end of the year. The U.S. market experienced its first dip since the pandemic's start. The transition to remote work and learning intensified purchasing. Still, after a year of acceleration, there has also been a comparative slowdown in PC expenditure, which has led to some softening of the United States PC market recently. The inclination of consumers to reduce luxury spending and concentrate on necessities due to the pandemic has also led to a fall in demand for premium-range smartphones. However, the market is gradually coming back on track.
North America IT Device Industry Segmentation
As digitalization advances, hardware components are continuously updated to meet the most recent requirements. PCs and phones are the two sectors that make up the Devices market in the Technology Market Outlook.
North America IT Device Market is Segmented by Type (PCs - Laptops, Desktop PCs and Tablets, and Phones - Land Lines, Smart Phones, and Feature Phones) and By Geography. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
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North America IT Device Market Size Summary
The North American IT device market is poised for moderate growth over the next five years, driven by increasing penetration of laptops and mobile devices. The region's high purchasing power, particularly in the United States and Canada, supports the adoption of advanced technologies and enhanced capacity ownership. The United States leads in cloud adoption, with businesses increasingly relying on adaptable IT infrastructure to keep pace with market changes. This trend is expected to boost demand for mobile phones, laptops, and cloud-based services. However, the market has faced challenges, such as semiconductor shortages impacting smartphone and laptop production, which were exacerbated during the COVID-19 pandemic. Despite these challenges, the demand for supercomputing platforms is rising, with significant investments needed to meet the growing need for advanced computing capabilities.
In North America, the demand for smartphones is robust, particularly in urban areas where mobile internet penetration is high. The region is experiencing a rapid increase in 5G adoption, with expectations of significant coverage expansion by 2025. This shift is driving demand for 5G-enabled devices, as consumers transition from basic smartphones to more advanced IoT and 5G-capable models. The U.S. market shows resilience with consistent tablet sales, led by Apple, which dominates the tablet market. The IT device market in North America is highly fragmented, with major players like IBM, Lenovo, Apple, Samsung, and Microsoft actively pursuing advancements and strategic collaborations to strengthen their market positions. These companies are expanding their global footprints and entering new partnerships to enhance their offerings and cater to the evolving needs of the market.
North America IT Device Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness-Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Consumers
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1.2.3 Threat of New Entrants
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1.2.4 Threat of Substitute Products
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1.2.5 Intensity of Competitive Rivalry
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1.3 Impact of COVID-19 on the IT Device Industry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 PC's
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2.1.1.1 Laptops
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2.1.1.2 Desktop PCs
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2.1.1.3 Tablets
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2.1.2 Phones
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2.1.2.1 Landline Phones
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2.1.2.2 Smartphones
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2.1.2.3 Feature Phones
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2.2 By Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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North America IT Device Market Size FAQs
What is the current North America IT Device Market size?
The North America IT Device Market is projected to register a CAGR of 1.60% during the forecast period (2024-2029)
Who are the key players in North America IT Device Market?
Microsoft Corporation, Lenovo Group Limited, The International Business Machines Corporation(IBM), Apple Inc. and Samsung Electronics Co., Ltd. are the major companies operating in the North America IT Device Market.