Market Size - Computer Hardware Market: Global
The market size of the computer hardware market is estimated at $318.98 billion and $203.83 billion in 2019 and 2018 respectively. The market is dominated by 3 major players; Apple, IBM, and HP.
- The global market size for computer hardware in 2019 is estimated at $318.98 billion
- The global market size for computer hardware in 2018 is $203.83 billion
- The market is expected to grow at CAGR of 5.1%
- By 2020, the market will be worth $370.33 billion
- Apple, IBM, HP is some of the key players in the industry.
- The Asia-Pacific computer hardware market accounts the largest share in the global computer hardware market
- Technology development, increasing data volume are some factors driving the growth of the market
To provide the global market size of the computer hardware market, we scoured for market/industry reports from MarketsandMarkets, Technavio, MartketResearchGazette, StatsandReports, ResearchandMarkets, ReportsIntellect, TheBusinessResearchCompany, among others. We also combed through media sites like BusinessWire, PRNews Wire, GlobeNewswire, etc. but the information provided by the sources referred to the market size reports by industry sources and was only available behind a paywall. We were able to locate the forecasted market size of the industry according to reports from TheBusinessResearchCompany, and other attempts to find the market size was futile as the information was only available behind a paywall.
Using the 2022 forecasted market size and CAGR, we were able to determine the 2018 and 2019 global market size of the computer hardware market. For the calculation to be possible, we assumed that the market grew at a constant CAGR from 2018 to the forecasted period.
Formula: Future value = present value (1 + CAGR)^t
Present value = future value / (1 + CAGR)^t
where; future value = 2022 market size
present value = current market size
t = period (number of years between forecasted periods)
2022 global computer hardware market size: $370.33 billion
2019 MARKET SIZE
- 2019 market size = $370,330,000,000 / (1 + 5.1)^3
- $370,330,000,000 / (1.161)^3 = $318,975,021,533 ~ $318.98 billion
- Therefore, the global market size for computer hardware in 2019 is $318.98 billion
2018 MARKET SIZE
- 2018 market size = $370,330,000,000 / (1 + 5.1)^4
- $370,330,000,000 / (1.161)^4 = $203,826,203,920 ~ $203.83 billion
- Therefore, the global market size for computer hardware in 2018 is $203.83 billion