Core Insights - The PC market is expected to see a growth rate of 3% to 4% in 2025, driven by the end of Windows 10, enterprise upgrade demands, and China's subsidy for old-for-new exchanges [1][2] - The global PC sales are projected to remain flat in 2024, with a potential increase in 2025 due to the aforementioned factors [1] - The introduction of AI PCs and related CPUs is anticipated to penetrate the mid-range market in the second half of the year, which will help lower product prices and promote wider applications [1] Industry Trends - The consumer electronics market is experiencing turbulence due to tariff policies, leading to increased costs for supply chain manufacturers and cautious consumer spending [1] - Innovations such as on-device AI, custom chips, and new screen formats are expected to drive growth in high-end products [2] - The non-Apple ARM architecture mobile PCs are projected to achieve over 100% annual growth rate by 2025 [1]

Apr. 22, 2025 产业洞察 根据Tr e n dFo r c e集邦咨询最新调查，尽管美国暂缓推迟征收对等关税9 0天，为笔电品牌提供短暂的 喘息空间，但整体市场仍受制不确定性因素的影响。 品牌自2 0 2 4年底开始提前扩大备货规模，推升 2 0 2 4年第四季出货年增率至5 . 1%，2 0 2 5年第一季达7 . 2%。 然而，考量整体国际形势的变化影响， 预估2 0 2 5年笔电品牌全年出货年增率将由3 . 6%下修至1 . 4%。 分析供应链情况，美国目前对自东南亚进口的笔电维持0%关税，使得品牌加速从越南、泰国等地出 货至美国市场。美系品牌从早期即积极布局东南亚产能，具备较大调度弹性，可在9 0天豁免期内快 速补充北美通路库存。反观非美系品牌，因东南亚供应链尚未完全成形，短期内的调整空间相对有 限。 若对等关税协商破局，出货量年增恐转为年减 美国为全球最大笔电单一市场，约占总需求3 0%，即便短期内关税暂缓有助品牌出货，但 Tr e n dFo r c e集邦咨询预期终端价格上调的可能性非常高，恐将抑制消费与商用换机需求。 目前品牌厂正密切关注美国与各国家间的关税协商进展，若美国最终对东 ...