HP targets growth in hybrid work, gaming
Firm sees openings in area of sustainability
Global tech and computer giant HP Inc is widening growth opportunities in the fields of hybrid work, gaming and sustainability, which have a total addressable market value of more than US$700 billion.
"The macroeconomic situation is very dynamic and we are going to focus on both improving our supply chain execution and continuous innovation," Enrique Lores, president and chief executive of HP, said via a video recording at HP Amplify Executive Forum, an annual partner roadshow, in Dubai.
He said HP sees three significant trends in the coming years, covering hybrid work, gaming, and sustainability.
Hybrid work is a growing area as people will permanently split their time between working remotely and in an office, which will therefore drive continued investment in the firm's technology, said Mr Lores.
Gaming will continue to grow, Mr Lores said. There are more than 3 billion gamers worldwide, which presents a huge opportunity.
According to him, businesses are increasingly expected to take more action on the climate, support diversity, protect human rights, and support the digital workforce.
"We have a bright future ahead and we plan to capitalise on them as part of our strategy for building a stronger HP," said Mr Lores.
Alex Cho, president for personal systems at HP, said PCs were essential for work, study, communication and entertainment.
He said the PC segment will grow more in the hybrid world, while the peripheral market will also expand to enhance users' experience.
HP's personal systems business will see its total addressable market grow to $560 billion by 2024, Mr Cho said.
"The bigger shifts that we are undergoing is from just being focused on PC devices to experiences and solutions," said Mr Cho.
"We unlock the value of these massive categories of computing, peripherals and services."
Mr Elbaz reiterated that the company has been operating Amplify over the past two years and this has helped partners drive $6 billion in revenue growth.
Guayente Sanmartin, general manager and global head of commercial systems and displays solutions at HP, said almost half of workers globally are expected to have at least some flexibility in where they work in 2023.
Some 33% of employees said they will quit if forced to return to office, she said.
HP is scaling up its focus in five new innovation areas.
The first lies in the engineering to support hybrid work, said Ms Sanmartin. The company has delivered HP Presence software in which artificial intelligence technology is used to detect the movement of users and their voices.
HP Presence is embedded in both consumer and commercial devices.
The second involves interoperability, which supports usage via different devices for a seamless experience, while the third involves security technology.
The fourth focuses on services. Sensors in equipment can help determine usage that could support after-sales services, including checking remaining ink tank levels.
The final area involves a sustainability drive, including using environmentally friendly packaging.
To enhance hybrid work experiences, the company recently introduced HP Dragonfly Folio G3, which combines laptop productivity with the convenience of a tablet in one device to support working from anywhere.
The firm also launched the HP 34" All-in-One Desktop PC that can create a studio-like experience with support for dual video streams and camera switching.
Tuan Tran, president of imaging, printing and solutions at HP, said the company is gearing up to improve supplies to the market in the coming months.
Printing is essential for small businesses as 80% of them rely on it, he said.
Small businesses represent around 90% of all firms globally, with up to 70% of employment and up to 90% of global GDP.
HP recently introduced the new LaserJet Pro 3000 and 4000 series, designed for maximum productivity. The products deliver high-performance printing with built-in security and cloud connectivity, Mr Tran said.
Mr Cho said the PC segment will grow more in the hybrid world, while the peripheral market will also expand to enhance users' experience.
Kobi Elbaz, general manager of the global channel organisation at HP, said the company has been operating Amplify, its global channel programme aimed at allowing partners to leverage Amplify data analytics, over the past two years.
This has helped partners drive $6 billion in revenue growth.
HP found that partners that leverage Amplify data analytics were growing faster than average. "The company sees a rising trend of data analytics," Mr Elbaz said.
He said sustainability is no longer social responsibility, but it can lead to opportunities as customers require more for their procurement.
"HP itself won more than $3.5 billion in new sales in fiscal year 2021 due to its commitment to sustainable impact," said Mr Elbaz.
Launched in early 2021, HP Amplify Impact represents a first-of-its-kind partner assessment, resource and training programme, leveraging HP's own investments and initiatives.
The programme also provides partners with the opportunity to join HP in its efforts to generate meaningful impact across climate action, human rights, and digital equality.
The company is driving the programme on a global scale with a phased approach over the next two years.