The global PC market is showing signs of life in Q4 2024, with an uptick of 1.8% from the previous quarter, totaling 68.9 million units shipped. For the entire year, shipments also saw a modest bump of 1%, hitting 262.7 million units. This marks a return to growth after four quarters of year-over-year declines. It's worth noting that even in a slow market, some companies are managing to thrive.
Factors Impacting the Market
The marginal growth in Q4 is largely attributed to pent-up demand for AI PCs and slower-than-expected upgrades as companies prepare for the end of Windows 10 support in 2025. As Windows 10's end-of-support deadline looms in October 2025, enterprises are finally making moves to upgrade their hardware.
According to Jitesh Ubrani, research manager with IDC’s Worldwide Mobile Device Trackers, "The US and some European countries showed strong performance due to end-of-year sale promotions and enterprises upgrading hardware before the end of Windows 10 support."
But it’s not all smooth sailing. Geopolitical uncertainties—like the impending administration change in the US and potential new tariffs—have raised the stakes. Brands with limited manufacturing options outside of China are particularly concerned and have taken precautions, pulling in supply during December.
Vendor Highlights
Lenovo
Lenovo led the charge with over 16 million units shipped, capturing around 25% of the market share. This 4.8% year-over-year growth firmly cements its status as the top vendor in a shaky market.
HP Inc.
HP Inc. followed closely with a 19% market share and 13.7 million units shipped. However, this reflects a slight dip of 1.7% from last year, which is still commendable amid the competition.
Dell Technologies
Dell held 14% of the market with 9.9 million units shipped. After a rough start due to cautious enterprise spending, Dell's enterprise solutions and public sector offerings helped it bounce back.
Apple
Apple's fortunes took a hit, with its market share plummeting to 10% from 15% in Q3 2024. This decline serves as a stark reminder of the fierce competition in the PC space.
ASUS
ASUS, on the other hand, performed well with 6.9% of the market and 4.7 million units shipped, marking an 11.7% year-over-year growth. This suggests ASUS is finding its niche even in a crowded field.
Emerging Trends
AI-Enabled PCs
The interest in AI-enabled PCs is growing, with their advanced hardware allowing for better data processing, security, and real-time analytics. However, consumer uptake has been slower than anticipated.
Geopolitical Uncertainty
Geopolitical issues, particularly the looming threat of new tariffs and an impending US administration change, have stoked fears in the industry. Companies with limited manufacturing capabilities outside of China are scrambling for security.
Windows 10 End-of-Support
The end-of-support for Windows 10 in October 2025 is expected to trigger a large-scale upgrade cycle. Both businesses and consumers are likely to turn to Windows 11 or AI-enabled PCs, setting the stage for future growth.
Summary
The global PC market seems on the verge of renewed growth in 2025, driven largely by the impending end-of-Windows 10 support deadline and the potential for AI-enabled PC adoption. While there are challenges, major players like Lenovo, HP, and Dell are in a good position to take advantage of emerging opportunities.
The fourth quarter of 2024 highlights the complex relationship between technology, geopolitics, and consumer habits. The market remains in flux, and keeping an eye on these factors will be crucial for vendors and stakeholders.
