How there may be more pain for hardware companies in 2023

Worldwide shipments of total devices, which include PCs, tablets and mobile phones, are projected to decline 4.4% in 2023, a new report has said, adding that a total of 1.7 billion units will be shipped this year. In comparison, the devices shipment market declined 11.9% in 2022.

“The depressed economic market will continue to dampen demand for devices throughout 2023. In fact, end-user spending on devices is projected to decline 5.1% in 2023,” said Ranjit Atwal, Senior Director Analyst at Gartner.

“Just as business confidence was beginning to recover after the worst of the pandemic, it has now fallen significantly in most regions. We do not expect relief from inflation and the bottom of the recession to occur until the fourth quarter of 2023,” Atwal added.