Market Size of Asia Pacific IT Device Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 1.90 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC IT Device Market Analysis
The Asia-Pacific IT device market is expected to grow at a CAGR of 1.9% for the next five years. The region is one of the leading IT device markets across the globe. The Asia-Pacific IT device market is expected to witness growth during the forecast period, owing to the growing telecom market and rapidly rising population.
- The fastest growth of the IT device market is anticipated to be in the Asia-Pacific region. The growth of IT companies in nations like China, Japan, and India boosted the demand for tech devices like smartphones, tablets, and laptops in Asia-Pacific. In addition, regional demand is anticipated to increase owing to the upswing in the disposable income of people.
- Asia-Pacific holds a significant share in manufacturing IT devices like laptops, desktop computers, and mobile phones. On the back of its excellent technological presence, China has a significant share of manufacturing and exporting IT devices to the rest of the world. Also, it continues to be the major provider of desktop computers in the Asia-Pacific region in terms of value, accounting for around 61% of global exports last year. Notably, from a continental standpoint, USD 217.6 billion, or 82.3%, of all mobile phones exported last year were produced by vendors in Asia.
- The Asia-Pacific region was affected by the interruptions to global supply chains caused by COVID-19 and geopolitical events, which influenced sourcing, logistics, manufacturing, distribution, and aftermarket services. Also, the geopolitical tension between the United States and China has pressurized the region's IT device market.
- However, the Asia-Pacific IT device market continues to benefit greatly from the mobile environment. The growing population impacting the overall mobile subscription rate, vast mobile broadband coverage, and market-leading 5G rollout are anticipated to impact the demand for mobiles during the forecast period.
- Post-covid, the demand for desktop PCs is expected to witness a sharp decline. This is mostly because of the withdrawal of work-from-home restrictions and the gradual opening of companies. However, due to the continuation of hybrid work models in many of the top countries of the Asia Pacific region, there would be a persisting demand for laptops and tablets going forward. Also, the people understood the importance of IT devices during the lockdowns. This new perspective is expected to continue to support the PCs segment (laptops, tablets, and desktop demand) in the long run.
