North America IT Device Market Size

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.