Market Trends of India IT Hardware Industry
PC and Workstations to Hold Significant Market Share
- PC and Workstations Segment: Largest Market Share: The PC and Workstations segment commands the largest share of the India IT Hardware Market, accounting for 71.40% of the market in 2022. Valued at USD 12.43 billion in 2022, this segment is projected to reach USD 17.11 billion by 2028, with a CAGR of 5.62% during the forecast period (2023-2028).
- Government-Driven Growth: Government-driven education projects and procurement of upgraded PCs have fueled demand, with government enterprise PC purchases significantly boosting demand in 2022.
- Technological Advancements: Companies like HP are introducing AI-enabled PCs, with innovative models set to enter the market by 2024, allowing advanced functionalities such as AI-powered data analysis.
- Product Diversification: Dell launched a new product portfolio in April 2023, including Latitude Notebooks and Precision Mobile Workstations, targeting various market segments and price points.
- Enterprise Networking Hardware: Fastest Growing Segment: Valued at USD 1.43 billion in 2022, the Enterprise Networking Hardware segment is projected to reach USD 2.49 billion by 2028, registering a CAGR of 10.12%.
- Technological Drivers: The increasing complexity of hybrid cloud environments is driving demand for secure and seamless networking solutions.
- Product Innovation: NETGEAR launched a 10G/Multi-Gigabit Dual WAN Pro Router in 2023 to meet the high-performance needs of businesses, offering solutions for advanced networking requirements.
- Local Manufacturing Initiatives: Companies like Ciena and Flex are partnering to manufacture routing and switching products in India, aligning with the 'Make in India' initiative.
Understand The Key Trends Shaping This Market
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North India to Witness Major Growth
- North India: Fastest Growing Regional Segment: North India is emerging as the fastest-growing regional market, with a valuation of USD 5.30 billion in 2022, projected to reach USD 8.30 billion by 2028, at a CAGR of 7.92%.
- Industrial Hub: Haryana, with hubs like Gurugram and Manesar, has become a center for IT equipment production and assembly, offering advanced infrastructure and strategic location advantages.
- Corporate Presence: Major IT companies like HCL and HP have strong operations in the region, driving local demand and supply of IT hardware.
- Educational Ecosystem: North India’s educational institutions and vocational schools provide a qualified IT workforce, contributing to regional growth.
