The UK market for computers and peripheral equipment saw fluctuating trends over the past decade. In 2023, the market stood at 54.653 million, a slight decrease from 2022. Over the last two years, the market experienced a minor decline of 0.5% in 2023 and a 2.45% decline in 2022. The compound annual growth rate (CAGR) for the last five years rebounded slightly to -1.73%, indicating a downward trend. Forecasts for the next five years suggest a more stable yet slightly declining market with a forecasted CAGR of -0.42%, predicting the market size will reach 53.294 million by 2028.
Future trends to watch for:
- Increased adoption of cloud computing, likely reducing demand for physical peripheral equipment.
- Growth in smart office and home devices, potentially offsetting some market declines.
- Technological advancements in hardware and AI integration.
