DIGITAL

&TRENDSTech

in

a

time

of

crisisATrend

report

on

how

technology

can

mitigatetheworst

effectsof

aneconomic

downturnBecoming

recession-proof:

The

tech

trends

to

pay

attention

to

in

2024Executive

summaryTheworld

isinatime

ofcrisis.

Global

economic

activityis

forecast

tocontinueslowing

in2024

duetoaplethoraof

intersecting

issues.

Theseinclude,amongothers,

international

supplychainproblems,

alaborshortage,

high

inflationandinterest

rates,andRussia’s

invasion

ofUkraine

and

thesubsequent

energy

crisis.Moreover,

the

combination

of

crises

threatens

stabilityand

recovery,

and

theriskof

aglobalrecession

remains

highin2024,

according

to

IMF

forecasts.

However,

inthefaceof

rising

economic,

political,andsocial

headwinds,

businesses

caninitiatechangeand

adapttothe

current

circumstances.3.

Investment

ininnovativetechnologies

suchasaugmented

reality:

Businesses

arerecommended

to

facilitatethe

potential

of

innovativetechnologies

to

tapintoconsumer

demand

throughuniqueuser

experiences.4.

Sustainability

as

astrategy

intheconsumer

electronics

market:

Adoptingsustainablestrategies

meansthatbusinesses

areusingfewer

resources

andreducing

theircosts,

and

winning

over

new

customers.5.

Adapting

artificialintelligence

solutionstosupplychainmanagement:

UsingAItoproduce

aleaner

andmore

effective

supplychainwill

beakey

component

of

astrong

andenduringbusinessinthefuture.ThisTrendreport

explores

eight

techsector

developments

thatbusinessesshouldpayattention

to

inthischallenging

environment

inorder

tosurvive,

thrive,andbecome

recession-proof.6.

Theimportance

of

data

centers

duetoincreasing

digitaltransformation:

Risingenergy

prices,

laborshortages,

and

supplychainissuesare

affectingallaspects

ofthetech

industry,includingthedatacenters

segment.1.

Business

sentiment

inthetech

sector

regarding

therecession,

andalook

atlayoffsinrecent

years:

TheCOVID-19

pandemicproved

how

essential

itwas

toimplement

newtechnologies

and

digitalsolutions

to

stayafloat,asbusinessespivoted

toremote

work

and

companies

were

forced

tochangebusinessmodels.7.

Cloudmigration:

Atthe

crux

of

most

technologies,

cloudplatforms

areused

todevelop

newprocesses,

which

arenecessary

torespond

toshifting

markets

andchallenging

businessconditions.2.

ITskills

and

tech

sector

employment,

includingtalentdemand:

Thelackoftechtalenthasbeen

labeled

asanexistential

threat

to

businesses

andtech

innovation.Companies

havetheresponsibility

of

facilitating

tech

reskilling

bynarrowing

thegapbetween

corporate

digitaltransformation

goalsandworkforce

investments.8.

Global

tech

spendinganda2024

outlook:

Confrontedwith

amixof

headwinds,companies

will

increasingly

usenew

digitaltechnologies

to

adapt

andtransformexisting

products

and

services,

and

remodel

revenue

streams

tocreate

new

ones.301A

snapshot

of

the

tech

landscape?

Crisisand

opportunity?

ITplanning

andexpectations?

Tech

layoffsworldwideInthemidstofevery

crisisliesgreat

opportunityEverything

everywhere

allatonceWorldwide

economic

activityisforecast

toremain

subduedin2024

due

tomanyintersecting

crises.

Indeed,

the

International

Monetary

Fund

hashighlightedaslowoutlook

forglobal

growth.

IMF

projections

pointto

furtherdecreases

inglobal

GDPThechallenges

arediverse:

laborshortages,

international

supply

chainissues,China’sslowing

economic

growth

intheaftermath

oftheCOVID-19

pandemic,

highinterest

ratesaimed

atcontrolling

inflation,andanenergy

crisisresulting

fromgrowth,

slowing

from

3.5

percent

and

3.0

percent

in2022

and

2023,

respectively,

to

Russia’s

invasion

ofUkraine

and

increased

prices

inoil,gas,and

electricity

markets.2.9

percent

in2024.

Inflationwill

likely

remain

stubbornly

high

butisset

to

easefrom

8.7

percent

in2022

and6.9percent

in2023

to5.8percent

in2024.However,

despitethese

obstacles,

businesses

havethechanceto

instigatechangeandadjust

tothe

present

economic

conditions.Global

real

GDP

growthGDPgrowth

comparedwiththe

previousyearSupplyproblems:Labor

&Energycrisis8,0%6,0%4,0%2,0%0,0%-2,0%-4,0%productionHighinterestrates

&inflationRecessionOPPORTUNITY?WarinUkraineSlowgrowthinChina201920202021202220232024*2025*5Notes:(1)

Worldwide;

2019

to

2025;

*

forecastSources:

(1)

IMF,

ID:273951;

Text:IMF,

ID:256598Investing

innew

technologies

inorder

tothriveBusiness

sentiment

inthe

tech

world

abouttherecessionITplanning

andexpectationsfor

2024

among

organizations

inNorth

AmericaandEuropeWhile

instinct

would

suggest

trimming

spendingontechnologies

of

the

future,lessons

from

priorrecessions

indicatethatcompanies

thatinvest

ininnovation

and

ITinthelead-up

to

adownturn

oftensurvive

and

tend

to

havehigherrevenue

growth

duringthe

recovery

period.

TheCOVID-19

pandemic

provedhow

implementing

new

technologies

anddigitalsolutions

was

essential

forsurvival,ascompaniespivoted

toremote

workforces

andwere

forced

tochangebusinessmodels.84%63%66%Concernedaboutarecession

in2024Seniortech

leadersbelieveitisdifficulttohireskilledITtalentPlanningtoincreaseITbudgetsin2024Assuch,businesses

across

arange

ofindustrieswillsee

opportunities

inexploring

the

potential

ofinnovativetechnologies.

Companies

shouldincrease

ITspendingtowork

more

efficiently

and

effectively,

aswell

as

utilizesuchsolutionstotap

into

consumerdemand

throughuniqueuser

experiences.

Indeed,failingto

adapt

tothe

circumstances

may

spell

the

endof

company

profitsand

expose

businesses

totalentloss,

aswas

seen

duringthe

pandemic

period.6Notes:(1)

NorthAmerica,

Europe;June

to

July

2023;

883

respondents;

ITprofessionalsSources:

(1)

Aberdeen

Group;SWZD;Spiceworks,ID:1420264Joblossesare

anindicationofaloomingrecessionTheimpactof

globalevents

on

techemploymentTech

layoffs

worldwide

from

2020

to2023Number

oftechemployeesSignificant

job

losses

were

recorded

inthe

tech

sector

atthebeginningof

the

COVID-19

pandemic.

Almost

70,000employees

attech

companies

lost

theirjobs

inthefirstandsecond

quartersof

2020.

Thejob

cutsinbothITand

non-IT-related

roles

were

due,inpart,to

lockdowns

andmobilityrestrictions

thatforced

firmstoreduce

costs.

Atthattime,tech

startupsinsectors

suchas

transportation

andtravel

were

themost

affected.

By

the

second

halfof2020

andthrough2021,

job

losses

attech

startupsnoticeablydecreased

as

venturecapitalspending

rose

atinternet,technology,

mobile

and

telecoms,

and

software

companies.180.000Industries

with

themosttechlayoffs

in2023160.000140.000120.000100.00080.00060.00040.00020.0000Retail:28,981Consumer:27,833Hardware:22,015However,

inthe

second

quarterof

2022,

the

wave

of

techsector

layoffsre-emerged

amid

changing

consumerpreferences,

globaleconomic

disruptions,and

aturbulentstock

market.

Thisled

to

plummeting

valuationsof

tech

firms,slow

revenue

growth,

andcost-cutting

measures

toreduceoperating

expenses,

withstartups,inparticular,notingthedifficulty

of

raising

new

funding.Q1'20

Q2'20

Q3'20

Q4'20

Q1'21

Q2'21

Q3'21

Q4'21

Q1'22

Q2'22

Q3'22

Q4'22

Q1'23

Q2'237Notes:(1)

Worldwide;

2020

to

2023;

(2)

Worldwide;

2023;

asofSeptember

22,

2023Sources:

(1)

Layoffs.fyi,

ID:199999;

(2)

Layoffs.fyi,ID:1126955Asnapshotof

thetechlandscapeTrendstopayattentiontoin2024Theslowdown

inglobal

economic

activityismultifaceted,

rangingfrom

the

Russia-Ukraine

war,anBrace

forabumpy

rideInitiate

changeenergy

crisis,

and

rising

inflationandhigh

interest

rates

onthebackofpandemic-era

policies.Moreover,

globaleconomic

activityisforecast

tocontinueslowing

in2024.Despite

theeconomic

headwinds,

organizations

aretakingthe

opportunity

to

initiatechangebyplanning

preventative

measures

andlooking

toincrease

IT

budgets.Companies

thatinvest

inITinthe

lead-up

toarecession

often

havehigher

revenue

growth

duringthe

recovery

period

following

adownturn.

TheCOVID-19

pandemicproved

how

implementing

newtechnologies

anddigitalsolutionswas

essential

forsurvival.Investto

thriveChanging

consumer

preferences,

globaleconomic

disruptions,and

aturbulentstock

market

haveled

to

plummeting

techcompany

valuations,slow

revenue

growth,

and

cost-cutting

measures

toreduce

operating

expenses.

Thishasresulted

inmass

tech

sector

layoffssincethebeginningofthepandemic.Beware

ofthe

consequences802Reinventing

the

tech

workforce?

In-demand

tech

skills?

ITskills

and

tech

employment?

Tech

skillsgapWhichtech

skillsare

businesseslookingfor?Reskilling

andupskilling:Bridgingthetech

talentshortage

gapMost

in-demandskillsamong

developersandtechrecruitersin2023Despite

thenumberoflayoffsinthetechindustry,demandforITskills

hasincreased

considerably

since2020.

Indeed,thelackof

tech

talenthasbeen

labeled

asanexistential

threatnotonly

forbusinesses

but

alsofortech

innovation.Consequently,

technology

awareness

hastransitioned

from

apreferred

skillon

anapplicant’sresume

to

anecessity.ShareofrespondentsWebdevelopmentDevOps58,53%35,55%DatabasesoftwareAI/ML/deeplearningMobiledevelopmentCloudcomputingUI/UX27,50%24,60%Widelyused

abbreviationsinthe

techindustryThemainapproaches

toovercoming

the

tech

skillshortageareupskillingandreskilling.

Upskillingis

focused

onindividualswho

already

haveatechbackground

thatneeds

tobeupgradedwith

anew

set

oftech

skills.

However,

upskillingonly

partiallysolves

the

tech

skillshortage,

asmostindividualsundergoing

upskillingprograms

already

work

intech-related

roles.

Reskilling,

on

the

other

hand,

happenswhen

people

who

work

innon-tech

roles

acquirethe

skillstoenter

thosepositions.

Asaresult,every

newly

reskilledemployee

hasadirect

impacton

the

tech

skillshortage.23,37%22,62%Artificial

intelligence

(AI)Augmented

reality

(AR)Development

operations

(DevOps)Extendedreality

(XR)20,04%FunctionalprogrammingBigdata18,94%18,78%Informationtechnology

(IT)InternetofThings

(IoT)Machinelearning

(ML)Mixedreality

(MR)Cybersecurity16,29%ContainertechnologyGamedevelopmentBusinessintelligenceIoT15,29%13,51%Userexperience

(UX)Userinterface

(UI)10,73%10,05%8,31%Virtual

reality

(VR)Robotics10

Notes:(1)

Worldwide;

February2023;

developers

from131

countries

and

recruiters

from98

countriesSources:

(1)

CodinGame;

CoderPad,

ID:1296668From

whatindustriesare

reskilled

workers

transitioningtothetech

industry?Thetechsector

hasbecome

amagnet

forreskilled

talentamid

labormarket

uncertaintyThe

main

sourcesofuntappedtechtalentTech

sector

employmentintheU.S.Whether

dueto

thefast

developments

andinnovations,alustforlearning,thedesire

forconstantprofessional

challenges,

or

simply

theappealingindustrysalaries,

thetechsector

hasbecome

amagnet

forreskilled

talent.According

toa2022

globalsurvey

byEquinix,

most

reskilled

workers

aremovingtotechcompanies

fromthebusinessadministrationandfinance

industries.AdministrationandbusinesssupportReturners

toworkafter

aperiod

ofabsenceManufacturing6,771,64120332030202320205,975,1705,780,9885,205,730EducationTransportation

HealthcareandAdditionally,the

number

ofongoing

world

crises

hasfacilitatedpeople’s

interest

inatech

career.

Despitethe

layoffsseen

recently,

the

tech

industry’sflourishing

development

andpotential

remain

themost

certain

anchorinalabormarket

currentlydominated

byuncertainty.

Indeed,thenumberof

U.S.tech

workers

isforecast

to

rise

from

5.8

million

in2023toalmost

seven

million

by2033.warehousingFinance

andinsuranceHospitality

MilitaryAthleticsRetailandwholesale11

Notes:(1)

Worldwide;

March1to

29,

2022;

2,900

respondents;

ITdecision-makers;

(2)

United

States;2023Sources:

(1)

Equinix;

Dynata,ID:1337554;

(2)

CompTIA;

U.S.

BureauofLaborStatistics;

Lightcast,ID:674221Tech

demand

vs.

talentcrisisbetween

2022

and2025Whatdoes

the

futurehold?Whichrolesare

usually

being

taken

byreskilledworkers

from

othersectors?What

are

thegaps

intechskillsin

yourIn2022,

asthe

COVID-19

pandemic

continued,companies

all

over

theworld

reported

substantial

techskillsgaps,particularly

forITtechnicians,cloudcomputing

experts,

andAI

andMLprofessionals.

By2025,

the

demand

forITtechniciansand

cloudcomputing

will

likely

improve

duetoreskillingprograms.

Thesame

cannotbesaidforskillsinAI,ML,AR,and

VR,

where

gapsare

expected

tostaythe

sameor

grow.

However,

there

seems

to

beapositivecorrelation

between

the

roles

thatareusuallybeingtaken

by

reskilled

workers

fromother

industriesandthe

gapsintech

skillsreported

bycompanies.Nevertheless,

companies

havetheresponsibility

offacilitating

tech

reskilling

bynarrowing

the

gapbetween

corporate

digital

transformation

goalsandworkforce

investments.company

today,

andanticipated

gaps

in2025?ShareofrespondentsShareofrespondentsITtechnicianCloudcomputingAI/ML27%26%26%23%23%26%ITtechnicianCloudcomputingDataanalysis51%36%35%Dataanalysis21%19%19%18%DataprotectionSecurityanalystAI/ML32%27%DataprotectionSecuritysoftwaredeveloperSecurityanalystSecurityarchitectAR/VR21%19%18%18%18%17%17%27%27%26%24%23%23%17%17%20%16%16%SecurityadministratorSecuritysoftwaredeveloperSecurityengineerHardwareengineeringSecurityarchitectComplianceSecurityengineerSecurityadministratorMobiledevelopmentCompliance16%

15%15%

14%20%Hardwareengineering

13%

12%2022

2025MobiledevelopmentAR/VR20%18%12

Notes:(1)

(2)

Worldwide;

March1to

29,

2022;

2,900

respondents;

ITdecision-makersSources:

(1)

(2)

Equinix;

Dynata,ID:1337546;

ID:1337544Reinventing

thetech

workforceTrendstopayattentiontoin2024Tech

work

environments

will

remain

amagnet

forattractingnew

talent,andpeople

aretakingthe

initiativetoreskill.

Moreover,

individualsoften

find

themselves

learning

externally

todevelopthe

needed

skills.Build

acultureof

curiosityCompanies

mustbeready

toprovide

accessible

reskilling

programs

toattractandstimulatenewly

skilled

individuals.

However,

itiscritical

thatpeople

react

andrespond

quicklyto

complywith

techmarket

changesandto

meet

thosedemands,andforbusinesses

toidentifytalentgapsandimplement

strategies

tofillthem.Anticipate

how

the

techindustry

will

changeAsuccessful

talent

strategy

dependson

the

implementation

ofother

corporate

policies,

suchascompetitive

programs

toelevate

internal

digital

skills,proactive

tacticswhen

addressing

skillsobsolescence,

andatransparentcost-efficiency

assessment

forretention

strategies.Foster

afruitful

talent

strategyOffer

trainingin

the

metaverseIncorporating

technologies

suchas

VRandARcould

create

countless

possibilities

forvirtuallearning.

VR-

and

AR-based

trainingarecost-effective,

savingbothtime

and

humanresources.Additionally,they

ensure

fastertrainingand

animmersive,

engaging

experience.1303Creating

immersive

experiences?

Consumer

ARmarket?

ARheadset

shipments?

Mobile

AR

marketARsolutionsrequire

investment

intalent

andtechnologyStrategicintegration

ofXR

innovationsto

navigateachallenging

periodBusinesses

are

advised

to

facilitatethepotential

of

innovativetechnologies

totapinto

consumer

demand

throughuniqueuser

experiences.

Onesuchexample

isimmersive

technology,

notablyaugmented

reality.

TheARmarket

isvast,Onenotableexample

is

Apple.In2022,

CEO

TimCook

told

“CBSMornings”thatthecompany

is

beingvery

deliberate

with

itshiring,meaning

itwill

continuerecruitingbut

only

incertain

areas.

Applehasbeen

searching

forsoftware

producers

toencompassing

software,

hardware,

andadvertising.

AR

deployment

duringaperiod

design

applicationsandexperiences

within

itsARecosystem

as

itworks

on

itsfirstof

economic

uncertainty

canhelpdrive

consumer

confidence,

particularly

ine-commerce

and

theservice

sector.

ARcanalsosupport

trainingprograms

intheARheadset,

theAppleVision

Pro,

which

isdueto

bereleased

in2024.

Whilemuchnoise

hasbeen

made

byMeta

CEOMark

Zuckerberg

aboutthemetaverse

–amanufacturingand

health

careindustries,making

iteasier

and

fastertoupskilland

concept

thatalsoincludesVRtechnology

–Apple’sTimCook

insteadlooks

towardcross-train

employees.AR,repeatedly

speaking

aboutthetechnology’s

promise

and

possibilities.Businesses

seeking

toharnessthepower

of

extended

reality

mustbewilling

toinvest

and

experiment,

bothinterms

oftheworkforce

and

thetechnologies

behindAR.

Retaining

and

building

talent

isimportant

duringtimesof

uncertainty,andwhile

many

techfirms

haveannounced

planstofreeze

general

hiring,anumberhaveadopted

strategichiringprocesses

aimed

atspecific

capabilitiesortechnologies,

including

those

related

toAR.ARbusiness-to-consumer

market

revenue

growth

in

2024,

bysegment(inbillionU.S.dollars)ARsoftwareARadvertisingARhardware12,965,169,358.8%16.2%17.4%15

Notes:(1)

(2)

Worldwide;

2023Advertising

&Media

Outlook,ID:

1331925;

ID:1331928;

Text:CBSSources:

(1)

(2)New

ARheadset

devices

toenterthemarket

in2024ARheadset

shipment

year-over-year

growth

worldwide

from

2021

to

2026According

toprojections

fromtheInternational

DataCorporation,

AR

headset

shipmentsfell

below

260,000in2022

–

anine

percent

decrease

from

the

previousyear.

Shipmentsslowed

toward

theendof

the

year,

inpartduetoalackof

new

devices

on

the

market,

aswell

as

reduced

ITspendingonnew

tech

hardware.140%132%120%94%100%80%60%40%20%0%89%85%However,

ARheadset

shipmentsareforecast

to

growby89

percent

in2024,

with

thelandscapeexpected

tochangeconsiderably

asmore

companies

enterthemarket

and

tech

giantslikeAppleandMeta

takeaneven

greater

interest

inAR.ARheadset

shipmentshaveleaned

toward

theenterprise

side,

where

companies

are

more

willing

andcanafford

to

make

the

necessary

investments

innotjusthardware

butalsothe

required

software

andservices

thatcanhelpdrive

areturn

onanyinvestment.-9%2022*-3%-20%20212023*2024*2025*2026*16

Notes:(1)

Worldwide;

2021

to

2026;

*

forecastSources:

(1)

IDC,

ID:1214170Smartphones

are

alsokey

indelivering

immersive

experiencesThebooming

landscapeof

mobile

AR

and

itsimpact

onend-user

engagementConsumerandenterprisemobile

ARmarket

revenue

worldwide

from

2021

to2026End-user

demand

forimmersive

technology

canalsobefulfilledbyAR

onsmartphones,

withthemobile

AR

marketforecast

tobeworth

almost

26

billionU.S.

dollarsin2024.Duetothe

abundance

of

smartphones

already

inuse,thesedevices

serve

as

the

ideal

method

for

which

ARapplicationscanbedesigned

anddeployed.Market

revenue

inbillion

U.S.dollars40+18%36,33530252015105+19%30,8Smartphones

provide

consumers

with

aperfect

entry

pointtoAR.

Amazon

isone

ofseveral

retailers

with

ARtools

thatenable

shoppers

to

try

itemson

before

committing

toapurchase.

Anotherexample

ofARinactionis

tailoredadvertising

thatislocation-

andtime-based

–

the+22%25,8+27%21,1+33%16,612,5effectiveness

ofsuchmarketing

campaignsisimproved

bythe

growing

adoptionof

high-speed

5G

mobile

services.Apersonalized

shoppingexperience

canset

acompanyaheadof

itscompetition,

proving

awinningfactorduringtimes

ofeconomic

uncertaintywhere

client

retention

isofparamount

importance.020212022*2023*2024*2025*2026*17

Notes:(1)

Worldwide;

2021

to

2026;

*

forecastSources:

(1)

ARtillery

Intelligence,

ID:282453Creating

immersive

experiencesTrendstopayattentiontoin2024Investment

ininnovativetechnologies

likeARcanbeagame-changer

during

times

of

crisis.

Inthelonger

term,

suchadoption

cangenerate

greater

returns

in

therecovery

period

following

adownturn.

AR

solutionsoffer

businesses

theopportunity

to

streamline

operations,

improvetrainingmethods,

and

win

new

clientsor

retain

existing

ones.Investin

ARtechnologyAswell

as

investment

inthetechnologies

behindAR,workforce

development

is

key,particularly

inskillsthatare

connected

to

AR.

Programming,

3D

animationandmodeling,

anduserexperiencedesign

arejustafew

areas

thatcansupportAR

deployment

–

skillsthatcanalsobetransferredfrom

otherareas

of

the

tech

industry.AcquireadditionalAR

skillsTheprovision

of

awider

choice

of

ARdevices

atarange

ofprice

pointscanfurthersupport

theadoption

ofAR.

Withnew

players

likeAppleentering

the

market,

aswell

asexisting

firmssuchasGoogle

andMeta

offering

new

products,users

will

benefit

from

theinnovationsand

capabilitiesthatnew

ARheadsetscandeliver.Take

advantage

ofnewdevicesonthe

marketFormany

consumers,

smartphones

are

the

best

way

toengage

withAR.

Businesses

from

arangeof

industriescandesign

and

develop

applicationsthatimprove

the

user

experience

of

end-users.Therollout

of

5G

andthe

enhanced

computing

power

of

modern

mobile

devices

furtherhelp

todeliver

personalized,

immersive

experiences.Considermobile

ARasanentry

point1804Going

green?

Electronics

manufacturers’

sentiment?

Green

techandelectronics

recycling

market?

Refurbished

smartphones

and

PCsAsubdued

phaseintheconsumer

electronicsindustryChallenges

fortechgiantsMore

broadly,theconsumer

electronics

industryisalso

beingaffected

bytheongoing

crises.

Theindustry,which

was

steadily

growing

until2020,

hasbeenexperiencing

aslowdown

duetorecent

events,

startingwith

COVID-19.

Thepandemic

was

aninitialboon

tothe

consumer

electronics

market,

aspeople

inlockdown

invested

inhome

office

equipment

andentertainment

systems.

But

2022proved

adifficultyear

forconsumer

electronics

manufacturers

dueto

theRussia-Ukraine

war,thedownturn

inChineseproduction,

high

inflation,supplychaindisruption,and

alooming

recession.According

toanIPCsurvey

ofexecutives

intheelectronics

manufacturingsector,two-thirds

ofrespondents

reported

higherlaborcosts,andthree-fifths

experiencedhighermaterial

costs.

Atthe

same

time,27

percent

saidprofit

marginshavedeclined,

and

33

percent

saiditwas

harder

to

findand

recruit

skilled

talent.Direction

of

electronicsmanufacturers’

keyperformance

indicators

in2023Shareofrespondents66%In2023,

manufacturerscontinued

toface

manychallenges,

one

ofwhich

wasfluctuating

electronic

device

shipments:

Smartphoneshipmentsfell

by11.5

percentfrom

2021

to2022

and

seven

percent

between

2022

and2023;

since

the

startof

thepandemic,tabletsand

PCshipmentshavefollowed

asimilar

downward

trajectory.70%60%50%40%30%20%10%0%60%33%27%19%17%These

challenges

havehitthetech

giants.

While

consumer

electronics

brandsexpanded

inthe

years

leading

up

tothe

pandemic,

manyare

nowsuffering

fromthe

economic

slowdown,

registering

lower

sales

and

slower

growth.

Layoffs

andhiringfreezes

havebecome

recurrent

themes

across

thetechlandscape,withmajor

electronics

manufacturerssuchas

Amazon,Meta,Ericsson,

Dell,