HP Leads the Way with 6% Growth in PC Market Amidst Overall Decline – Q3 2023 Report, US

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HP Leads the Way with 6% Growth in PC Market Amidst Overall Decline – Q3 2023 Report

In the face of an overall decline in the PC market, HP has emerged as the leader, experiencing a remarkable 6% growth in the third quarter of 2023, according to a recent report by Counterpoint Research. This achievement is noteworthy considering that the overall PC market witnessed a 9% year-over-year fall in the same quarter.

Counterpoint Research attributes the decline in the PC market to weak demand from both consumers and enterprises. However, they do mention that global shipments were boosted by moderate seasonality, resulting in sequential growth in the quarter ending in September 2023.

Lenovo, the top-ranked vendor, saw a 5% decline in shipments during this period, while HP secured the second position with its impressive growth. Dell ranked third with a 14% fall in shipments, followed by Apple and Asus, whose shipments declined by 18% and 13% year-over-year in Q3 2023, respectively.

Counterpoint Research emphasizes that Tier 1 PC vendors such as Dell, Apple, and Asus struggled to find strong drivers to boost shipments across the board. However, they express optimism for the future, stating that the first replacement cycle after the COVID-19 pandemic, alongside the potential rise in AI PC momentum in 2024, could provide a much-needed boost.

The research firm anticipates that AI PCs will be the driving force behind the rebound in PC shipments next year. They project that AI PCs will achieve a 50% 10-year CAGR from 2020 and will dominate the market after 2026 with a penetration rate exceeding 50%.

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Counterpoint Research also highlights that major PC CPU makers like Intel and Qualcomm are working closely with PC OEMs to develop next-generation mainstream models. As a result, they anticipate a plethora of new product launches from Q4 2023 onward.

We expect the global PC market’s shipment volume to return to pre-COVID-19 levels next year, driven by the Windows 11 replacement, the rise of Arm PCs, and AI PCs, said Counterpoint.

Although AI PCs may initially face limited traction, the research firm believes that with the increasing number of applications worldwide, AI PCs could make tremendous progress in the second half of 2024.

With HP leading the way in the PC market growth, despite the overall decline, it is evident that the company has successfully managed to navigate the challenging landscape. As the industry prepares for the next wave of technological advancements, the stage is set for a significant resurgence that could reshape the global PC market.

Frequently Asked Questions (FAQs) Related to the Above News

How did HP perform in the PC market in the third quarter of 2023?

HP experienced a remarkable 6% growth, making it the leader in the PC market during that period.

What was the overall trend in the PC market during the third quarter of 2023?

The PC market witnessed a 9% year-over-year decline in the third quarter of 2023.

What were the reasons behind the decline in the PC market?

Weak demand from both consumers and enterprises contributed to the decline in the PC market.

Which vendors ranked highly in the PC market during the third quarter of 2023?

Lenovo was the top-ranked vendor, but it saw a 5% decline in shipments. HP secured the second position with 6% growth, while Dell ranked third with a 14% fall in shipments. Apple and Asus also experienced declines in shipments.

What factors are expected to drive a rebound in PC shipments next year?

Counterpoint Research anticipates that the first replacement cycle after the COVID-19 pandemic, alongside the potential rise in AI PC momentum in 2024, could provide a much-needed boost to the PC market.

How do AI PCs factor into the future of the PC market?

Counterpoint Research projects that AI PCs will be the driving force behind the rebound in PC shipments. They anticipate a 50% 10-year CAGR for AI PCs and expect them to dominate the market after 2026.

How are major PC CPU makers like Intel and Qualcomm contributing to the PC market?

Intel and Qualcomm are working closely with PC OEMs to develop next-generation mainstream models. This collaboration is expected to result in a plethora of new product launches starting from Q4 2023.

When is the global PC market expected to return to pre-COVID-19 levels?

Counterpoint Research expects the global PC market's shipment volume to return to pre-COVID-19 levels next year. Factors contributing to this rebound include the Windows 11 replacement, the rise of Arm PCs, and the increasing presence of AI PCs.

What is the outlook for AI PCs in the coming years?

While AI PCs may initially experience limited traction, Counterpoint Research believes that they will make tremendous progress in the second half of 2024 as the number of applications worldwide increases.

How has HP managed to navigate the challenging landscape of the PC market?

Despite the overall decline in the PC market, HP has successfully achieved growth and emerged as the leader. Their ability to navigate the challenging landscape reflects their strategic approach and adaptability to market conditions.

What can we expect for the future of the global PC market?

With HP leading the way in growth and the potential for technological advancements such as AI PCs, the global PC market is poised for a significant resurgence that could reshape the industry.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

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