The computer hardware industry provides a broad range of products. These include everyday items used in homes, businesses, and schools, such as desktop computers, monitors, and keyboards; laptop computers; peripherals like printers and scanners; as well as specialized or industrial items such as webcams, ATM machines, and data storage devices used by corporations, large and small. A rapidly growing segment of the computer hardware industry is in multipurpose handheld communication devices, such as smartphones and tablet computers, which allow consumers to have phone conversations, send electronic text messages and e-mail, surf the Internet, or access media. The personal computer industry celebrated its 45th anniversary in 2020.
In its first year, 1975 as marked by the Computer Industry Almanac, the personal computer industry as it is known today sold fewer than 50,000 personal computers with a value of $60 million. By 2010, worldwide sales had grown to more than 320 million personal computers with a retail value of $320 billion. By 2019, the global computer hardware manufacturing industry was a $255 billion business, according to market research group IBISWorld. Sales of personal computers (PC) have dropped since 2012, however, as tablet and mobile phone use has grown. International Data Corporation estimated that 254.4 million traditional personal computers shipped in 2019, down slightly from 256.7 million the previous year. This figure was expected to fall at a compound annual rate of 0.4 percent through 2023, reaching 250.5 million.
The computer hardware industry encompasses the companies that research, develop, design, assemble, test, manufacture, and sell these various devices. Technological advances continue to produce complex microchips in smaller sizes, enabling the computer hardware industry to provide smaller, more compact devices to consumers. Flat-screen computer monitors and thinner, lighter laptops or tablet computers are but ...