India’s Personal Computer (PC) market has been growing exponentially after the COVID pandemic and, the total addressable market (TAM) is expected to more than double in the next five to seven years, forecast Palo Alto-based HP Inc.
As per IDC shared data, 14.9 million PCs were sold in the country during calendar 2023.
Vineet Gehani, Senior Director-Consumer Sales, HP India told The Hindu that, ‘‘From pre-Covid to post-Covid, the industry witnessed a 1.5x growth in sales revenues as more and more people started feeling the need for smart working, smart living, smart learning and smart earning and still be connected and mobile.’‘
The country’s PC penetration rose to 18% after the pandemic, from 11 to 12 % pre-pandemic. ‘‘ The PC market has been seeing quantum growth after the pandemic, however, the penetration is still only 18% and that means a huge growth opportunity,’‘ Mr. Gehani commented.
According to Mr. Gehani, two key segments that are going to drive growth will include first-time buyers who currently use mobile phones and other form factors such as tablets; and refresh, customers who bought PCs some years ago and now want to explore much faster and smarter devices through an exchange or upgrade. HP said Tier III cities and smaller cities and towns beyond across the country were ready for greater PC penetration and these newer and rapidly growing markets were expected to bring in significant growth momentum.
“The relevance of PCs is increasingly being understood by people in tier III cities and geographies upwards. We have been widely covering tier Is tier IIs, but now. our focus is on tier IIIs and smaller towns. At the same time, we have an additional focus to reach out to homes belonging to all income strata in Tier Is and Tier IIs across the country,’‘ he stated.
HP recently introduced AI-enhanced gaming and creation laptops to help enhance the lifestyle, productivity, skill sets and earning ability of freelancers, bloggers, creators and gamers.
‘’With AI PCs, the market now will be witnessing the next evolution of personal computers,’‘ he said.
