CHICAGO, Jan. 05, 2024 (GLOBE NEWSWIRE) -- CHICAGO, January 5, 2024 – U.S. B2B technology sales are forecast to exceed $70 billion in 2025, and approach $80 billion in 2026. Software and cloud sales will continue to do well, with double-digit gains during each of the next three years. Hardware sales are expected to normalize, with 3% revenue growth in 2024, followed by high single-digit gains during each of the next two years, according to the latest Future of B2B Technology Forecast from Circana, formerly IRI and The NPD Group.
“The expectation of improved economic conditions this year, and the approach of a number of tailwinds to fuel PC recovery bode well for B2B tech growth over the next few years,” said Mike Crosby, executive director and B2B technology industry advisor for Circana. “The significant volume of pre-pandemic PCs that are nearing the end of their lifespans, the sunsetting of Windows 10 in 2025, and the emergence of AI PCs will all help stimulate unit demand at higher ASPs.”
Hardware remains the majority of revenue mix, but it faced declines, mainly in laptop sales volume. Year-over-year performance of software and cloud platform sales have remained positive and will lead the growth in 2024. Modest B2B PC gains are expected in the first half of this year, accelerating in the second half. Combined B2B tech revenue growth is forecast to reach 7% by the end of 2024. As PC volumes recover, other IT hardware categories are likely to benefit from a rise in collective demand. Initial growth will come from mid-sized and enterprise businesses, followed by small businesses.
“Many businesses will be returning to organizational expansion, which means more opportunities for growth. The need to support on-site, remote, and hybrid work models will create a need for improved communication and collaboration, as well as data and device security,” noted Crosby. “The B2B technology space has finally seen the bottom of the sales losses and is primed for positive performance across all segments.”
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Janine Marshall Circana 5166252356 janine.marshall@circana.com
