Seagate Technology: Growth Potential in Hardware

Computer Hardware Market Growth

The computer hardware market is on an upward trajectory, with a projected growth from $674.44 billion in 2023 to $710.32 billion in 2024, according to a report by Research and Markets. This growth, at a compound annual growth rate (CAGR) of 5.3%, is driven by factors such as global supply chains, the expansion of the internet, and the increasing number of data centers. By 2028, the market is expected to reach $914.55 billion, with a 6.5% CAGR, influenced by trends like remote work infrastructure, sustainable practices, and digital transformation.