Improving Economic Conditions and Anticipated PC Refresh to Drive B2B Technology Growth in 2024, Reports Circana

Chicago, Aug. 20, 2024 (GLOBE NEWSWIRE) — The U.S. B2B technology reseller market is expected to have a period of growth driven by improving economic conditions and a significant PC refresh cycle. According to the latest Future of B2B Technology forecast from Circana™, combined revenue across all categories is projected to reach $66 billion in 2024, reflecting a 5% year-over-year increase. This growth is expected to continue, with revenue forecasted at $71.4 billion in 2025 and $77 billion in 2026.

“With the expectation of better economic conditions in the second half of the year and the tailwinds from the anticipated PC refresh, the B2B technology sector is positioned for robust growth,” said Mike Crosby, executive director and B2B technology industry advisor, Circana. “The combination of an aging installed base of pre-pandemic PCs and the sunsetting of Windows 10 in 2025 will drive unit demand, particularly among enterprise and medium-sized businesses.”

Year-to-date performance from January to June 2024 reflects a mixed but improving market:

• IT Hardware. Overall revenue declined by 5%, with PCs showing 5% growth compared to the first half of 2023. Enterprise and medium businesses are leading the way with 15% and 3% growth, respectively, while small businesses continue to lag (-7%).
• Software and Cloud. These segments continue to see positive growth, with software up by 6% and cloud by 18%.
• Education Sector. The education sector overall is flat, but computers have shown resilience with a combined growth of 4%, driven by higher education at 15% and K-12 at 2%.

“While the market is still facing challenges, the overall outlook is becoming healthier,” Crosby added. “The software and cloud segments continue to perform well, and we are seeing early signs of the anticipated PC refresh cycle. Interest has been high around the introduction of AI PCs, with good activity surrounding evaluation unit placement, but has yet to translate into significant gains.“

Circana’s Future of B2B Technology Forecast, generated twice a year, leverages advanced time series techniques incorporating macroeconomic data, Circana point-of-sale assets, and industry expertise to provide comprehensive insights into the B2B technology market.

About Circana 
Circana is a leading advisor on the complexity of consumer behavior. Through superior technology, advanced analytics, cross-industry data, and deep expertise, we provide clarity that helps almost 7,000 of the world’s leading brands and retailers take action and unlock business growth. We understand more about the complete consumer, the complete store, and the complete wallet so our clients can go beyond the data to apply insights, ignite innovation, meet consumer demand, and outpace the competition. Learn more at circana.com.

Attachment

• Circana’s B2B Technology Sales Forecast

CONTACT: Shelley Hughes
Circana
+1 312-731-1782
Shelley.Hughes@circana.com