India & China to Lead Global PC Market Recovery in 2024

India & China to Lead Global PC Market Recovery in 2024

Just a few years back, the global landscape was drastically altered by the onset of the Covid-19 pandemic. A wave of caution swept through populations worldwide, prompting individuals to remain within the confines of their homes to shield themselves from the virus. This period saw a surge in the demand for electronic devices such as smartphones, gaming consoles, and computers, as people adapted to remote work, online learning, and combating boredom. The manufacturing industry struggled to keep pace with the soaring demand. However, as the situation gradually improved and life began to normalize, the momentum in electronics sales waned. Particularly, the computer market experienced a notable decline. Fortunately, industry experts foresee this deceleration as transient, with a resurgence anticipated in the PC market within China and India by 2024. Here's a closer look at the forecasted developments.

India & China Spearhead PC Market Expansion in 2024

The forecast for both the Chinese and Indian PC markets indicates a promising growth trajectory in the upcoming years, as per Canalys projections. Expectations are high for a rebound in the Chinese market in 2024, with a projected growth rate of 3%, which is anticipated to surge to 10% by 2025. This upswing is primarily attributed to the heightened demand in the commercial sector for PC upgrades. Concurrently, the tablet market in China is also set to witness steady growth, with a 4% increase forecasted for both 2024 and 2025, driven by the deepening digitalization initiatives in the region.

Similarly, in the Indian PC market encompassing desktops, notebooks, and tablets, a robust 14% year-on-year growth is on the horizon for 2024. All segments are poised to contribute to this expansion, with tablets leading the charge at an impressive 24% year-on-year rise. Noteworthy is the performance seen in Q4 2023 shipments, where desktops took the lead with a 27% increase, followed by notebooks at 3%. Interestingly, tablets in India experienced a 9% decline in shipments during the same period.

Driving Forces Behind the Growth

The growth in both India and China's PC markets is being propelled by the rise of AI-powered PCs and the emergence of locally manufactured devices. Various companies are expected to reap the benefits of this market expansion in the two countries. In India, Samsung emerges as the top player with a 26% market share, closely followed by Lenovo at 14.8% and Apple at 13.3%. In contrast, the scenario in China sees Lenovo taking a commanding lead with 38%, while Huawei and HP secure a tie for the second position, each holding 10% of the market share. The detailed breakdown of market shares is as follows:

Indian Market:

  • Lenovo: 38% market share
  • HP: 10% market share
  • Huawei: 10% market share
  • Dell: 8% market share
  • Asus: 7% market share
  • Others: 28% market share

Chinese Market:

  • Apple: 32% market share
  • Huawei: 23% market share
  • Xiaomi: 12% market share
  • HONOR: 11% market share
  • Lenovo: 8% market share
  • Others: 15% market share

These statistics shed light on the evolving landscape of the PC market in India and China, hinting at a promising growth trajectory in the near future.

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