In 2023, the technology sector was under the sign of Artificial Intelligence, which took a big leap forward with generative AI. It should not come as a surprise that there will be generative AI tools in all the devices we use, with new apps and features that will change the way we interact with technology. Changes will also appear in the way business is conducted in various sectors, as new processes are being developed with the help of generative AI, according to Business-Review.eu.
As far as sales on the electro-IT market are concerned, they followed the trend seen across the economy in 2023, meaning lower volumes due to declining demand and higher prices. According to GfK data, the sales of appliances went up, with big numbers for fryers and vertical vacuum cleaners, but there were double-digit drops for laptops, PC units, and printers. Interestingly, the data suggests that consumers have more money to spend on things that they could not afford in the past. Sales of laptops and smartphones—devices people need for work—were down all over the world as many consumers had already changed their devices in recent years.
The situation is similar on the smartphones market. The volume of sales went down by 5-6%, but the total value of the 3 million smartphones sold during the year went up, according to estimates, by 8-10%, to about EUR 1.5 billion. The main reason is that superpremium phones, priced at over EUR 1,000, now account for a third of the entire market. Meanwhile, premium devices, worth over EUR 600, have a market share of about 60%.
The increase in the average price of a smartphone in recent years, from EUR 150-200 to EUR 400, is mimicked by other segments as well, including TVs or household appliances, as Romanians’ purchasing power has gone up. “In terms of value, in the first nine months of the year, sales of surveillance cameras and digital cameras increased compared to the same period of 2022, while office equipment suffered, especially multifunction devices and printers. Also, after two years of sustained growth, sales of laptops and desktop computers got on a downward trend, with consumer needs having already been covered by purchases they made during the pandemic,” GfK representatives wrote.
As for PC units and laptops, global sales will see a record drop of almost 14% in 2023 compared to 2022, according to International Data Corporation (IDC), to 252 million units. For 2024, analysts estimate that the market will return to growth, with a 3.7% rise compared to this year, to 261.4 million units. That level will be higher than 2018’s (259.6 million), but still below 2019’s deliveries.
Read more HERE
