Home » Tablets market to see a third year of decline with revenue falling to $53.7 billion in 2024

Tablets market to see a third year of decline with revenue falling to $53.7 billion in 2024

13th Jun 23 11:55 am

Global spending on all IT devices, including PCs, tablets, and mobile phones, has slumped by a massive $122bn in the past two years, falling from $807bn to an expected $685bn in 2023. And while smartphone, laptop, and desktop PC sales revenues are set to recover this year slowly, the tablets segment keeps trailing behind recovery.

According to data presented by CasinosEnLigne.com the revenue in the global tablets market is expected to drop by 4% year-over-year to $54.9bn in 2023. The negative trend will continue in 2024, with the entire segment seeing a third year of decline and revenue falling by another 2% to $53.7bn.

Annual Sales Revenue Dropped by $6B Compared to 2021

Tablet sales are way down across the world, and even the largest tech giants can`t fight this trend. After surging in the early stages of the COVID-19 pandemic, global tablet demand dropped to far less impressive numbers in the past year, and IDC data confirm that.

IN Q1 2023, global tablet shipments plunged by a huge 19% year-over-year, falling from 38 million shipped units to 30.7 million. Although all the largest players in the market witnessed a double-digit sales drop, Amazon definitely suffered the most brutal hit, with a massive 62% sales drop in this period.

The Statista Market Insights showed the global tablet shipments dropped to pre-pandemic levels, causing the annual sales revenue to plunge by a massive $6bn in just three years. The average revenue per capita has also significantly declined, falling from $7.93 to $6.93 in this period.

After three consecutive years of decline, the entire market is forecasted to show the first signs of recovery in 2025, but revenues will remain below 2020-2021 levels. Statista expects the full recovery to show in 2028 when the entire market will hit $59.9bn in revenue.

Global Tablet Shipments Will Not Return to 2021 Levels Before 2028

Although the average tablet price is expected to drop by 6% in 2023, global tablet shipments will remain below the figures seen in the past few years. In 2021, when global tablet sales were at their peak, 187.9 million units were shipped worldwide. Last year, this figure dropped by 8% to 172.9 million.

Although Statista expects global tablet shipments to increase by a modest 1.7% and hit around 175.8 million in 2023 and 2024, this still represents almost a 13 million drop in just three years.

By 2028, when the entire market is expected to recover fully, global sales volume will hit 191.5 million units, only 3.6 million more than in 2021.

Leave a Comment

You may also like