The Indian PC market is on a noteworthy trajectory, demonstrating robust growth amidst evolving consumer preferences and market dynamics. The findings from a recent IDC report reveal a 3.8 percent year-over-year increase in total PC shipments, totaling approximately 14.4 million units in 2024. This development highlights not only the resilience of the market but also the competitive landscape shaped by key players such as HP, Lenovo, and Dell.
HP has reaffirmed its dominance within the Indian PC sector, securing a commanding 30.1 percent market share. This achievement is largely attributed to significant growth in government and enterprise segments, which expanded by 14.7 percent and 14.3 percent respectively. However, HP’s consumer segment faced challenges, recording a decline of 7.5 percent year-over-year due to intensifying competition, particularly within the eCommerce channel.
Lenovo followed closely, claiming 17.2 percent of the market share. The company’s balanced growth across consumer and commercial segments, with respective increases of 7 percent and 7.4 percent, underscores its sustained competitiveness. The success of Lenovo can be traced to a strategic focus on e-tailers and a strong enterprise supply chain.
Dell ranked third, holding a 16.1 percent share, whereas Acer and Asus filled the fourth and fifth spots with 15.1 percent and 7 percent market shares, respectively. Acer, in particular, showcased the highest growth rate among the top five vendors, with a remarkable 48.4 percent leap in the consumer segment, driven by aggressive pricing and promotional strategies. Asus, while smaller in market size, maintained a steady growth trajectory, particularly in the commercial sector, which expanded by 18.4 percent.
Segment Performance and Growth Drivers
Examining the segments closely, the overall market’s expansion can be attributed to rising consumer interest, particularly in gaming and AI-enabled PCs. Notably, the notebook category reported a commendable 4.5 percent increase, and workstations stood out with an impressive 10.9 percent growth, suggesting a shift towards more robust computing solutions for both personal and professional use.
The final quarter of 2024 marked a significant boost for the market, achieving a 6.9 percent growth year-over-year, propelled by a 9.6 percent uptick in notebook shipments. Premium notebooks particularly thrived, reflecting a 13.8 percent increase as consumers opted for higher-quality devices amidst the growing gaming trend.
The consumer segment’s modest growth rate of 2.6 percent signals a transformation in buying habits, where enthusiasts are leaning towards advanced devices rather than entry-level offerings. The commercial sector, on the other hand, surged by 5.1 percent, buoyed by stable order books and renewed public sector investments.
Analysts attribute significant growth in the PC market to enhanced demand for AI-powered notebooks. Introduction of Intel Core Ultra processors and AMD Ryzen AI processors is meeting the growing consumer appetite for affordable AI-enabled devices. Bharath Shenoy from IDC highlights that the increased shipment of AI-integrated PCs after mid-2024 indicates a clear shift in consumer preferences towards more sophisticated computing options.
Navkendar Singh, IDC India’s Associate Vice President, further emphasizes the behavioral changes in the commercial sphere. The impending need for businesses to refresh outdated systems, as devices from 2020-21 age, is expected to create renewed demand. However, concerns about a potential increase in device pricing due to a weakened currency could dampen the enthusiasm among price-conscious small and medium businesses (SMBs) and consumers.
The Indian PC market in 2024 reflects a complex interplay of creativity and competition, driven by evolving demands in consumer technology. As prominent brands like HP, Lenovo, and Dell navigate these waters, peripheral companies like Acer and Asus find their own niches for growth. The market’s trajectory signals an adaptive response to technological advancements, especially in AI and gaming, indicating a vibrant future for both manufacturers and consumers in India. However, economic factors and competitive pressures will require ongoing strategic adjustments to maintain momentum in this dynamic landscape.
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