The global PC market is bouncing back robustly, with Apple at the forefront among major manufacturers. According to the latest data from the International Data Corporation (IDC), the traditional PC market saw a 3% year-over-year (YoY) growth in the second quarter of 2024, marking its second straight quarter of expansion after a prolonged slump.
The report indicates that global PC shipments reached 64.9 million units in Q2 2024, with Apple emerging as the top performer among leading brands. The tech giant from Cupertino recorded an impressive 20.8% increase in Mac shipments compared to last year, significantly outpacing its rivals and solidifying its position in the global PC market.
This resurgence is a positive development for an industry that has faced considerable challenges in recent years. The PC market had endured seven consecutive quarters of decline, making this turnaround particularly noteworthy. While the overall market benefited from favorable comparisons to 2023, the growth was uneven across regions.
Notably, weak results in China continued to limit the market’s full potential. Excluding China, the global PC market exhibited even stronger growth, with shipments rising by over 5% YoY. This disparity underscores the uneven nature of the recovery and the ongoing challenges in key markets.
Apple’s stellar performance can be attributed to several factors, including the increasing popularity of its M-series chips, praised for their power efficiency and performance. The company's emphasis on integrating its hardware and software ecosystems has also likely boosted consumer interest in Mac products.
While Apple led in growth rate, other major manufacturers also posted positive trends. Lenovo retained its position as the market leader with a 3.7% increase in shipments, capturing 22.7% of the market share. HP Inc. followed closely with a 21.1% market share and a 1.8% growth in shipments. Acer Group also performed well, with a 13.7% increase in shipments.
Interestingly, Dell Technologies was the only top-five vendor to experience a decline, with a 2.4% decrease in shipments compared to Q2 2023. Nonetheless, the company maintained a significant 15.5% market share.
Industry analysts attribute the overall market recovery to several factors, including a commercial refresh cycle and growing interest in AI-capable PCs. Ryan Reith, group vice president with IDC’s Worldwide Device Trackers, noted that while the PC market faces challenges due to maturity and economic headwinds, two consecutive quarters of growth, market hype around AI PCs, and an ongoing commercial refresh cycle have breathed new life into the mature market.
The excitement around AI-enhanced PCs is expected to drive further growth in the coming months, with key industry players unveiling their initial strategies for AI integration. While the commercial market is seen as having the most immediate potential for AI in the PC industry, there is growing anticipation for developments in the consumer segment.
IDC also points out that all eyes are on Apple to potentially drive the consumer AI narrative later this year with anticipated product launches. However, “it shouldn’t be overlooked that Qualcomm, Intel, and AMD are all likely to make noise around both consumer and commercial AI PCs,” the report reads.
Beyond the AI factor, the market has also benefited from promotional activities by consumer-oriented brands and channels. Jitesh Ubrani, research manager with IDC’s Worldwide Mobile Device Trackers, noted that the industry has moved past the rock-bottom pricing caused by excess inventory last year, leading to growth in average selling prices due to richer configurations and reduced discounting.
As the PC market continues its recovery, it faces both opportunities and challenges. The ongoing commercial refresh cycle and the emerging AI PC segment present significant growth potential. However, regional disparities, particularly the weakness in the Chinese market, remain a concern for overall market performance.
The industry will be closely monitoring how manufacturers capitalize on the AI trend and whether they can sustain the current growth momentum. Apple’s strong performance sets a high bar for competitors and may prompt increased innovation and marketing efforts.
