Inflation, a weakening global economy, and the surge in buying over the past two years are the leading causes for the reduced outlook, according to the report by the IDC.
“Long-term demand will be driven by a slow economic recovery combined with an enterprise hardware refresh as support for Windows 10 nears its end. Educational deployments and hybrid work are also expected to become a mainstay driving additional volumes,” said Jitesh Ubrani, research manager for IDC Mobility and Consumer Device Trackers.
Further contraction is also expected in 2023 as consumer demand has slowed, the education demand has been largely fulfilled, and enterprise demand gets pushed out due to worsening macroeconomic conditions.
The combined market for PCs and tablets is forecast to decline 2.6 per cent in 2023 before returning to growth in 2024, said the report.
“With economic headwinds gaining speed, we expect worsening consumer sentiment to result in further consumer market contractions over the next six quarters,” added Linn Huang, research vice president, Devices and Displays.
“Economic recovery in time for the next major refresh cycle could propel some growth in the outer years of our forecast. Though volumes won’t hit pandemic peaks, we expect the consumer market to drive towards more premium ends of the market,” Huang added.
(Except for the headline, the rest of this IANS article is un-edited)
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