Sigh... yet another idiot "economist" expecting perpetual growth. Perpetual growth is not possible. Saturation happens.
Even when a disposable non-reusable market is created, it will never have perpetual growth.
Global PC shipments are still expanding but the pace was more moderate in calendar Q3 following a US slowdown in spending caused by the gridlock in the supply chain. According to preliminary figures released today by IDC, sales into the channel went up by 3.9 per cent to 86.652 million units - this is the sixth consecutive …
A lot of families in the USA had to buy laptops and PC for their kids at the start of the pandemic which led to a lot of second-hand computers being refurbished and upgraded ... so now they are working and a lot of families are scratching around for income post-pandemic, so they are not going to run out and buy a new PC if the ones they have got are still working.
Outside the GPU driven gaming PC market the amount of computing power home PC users actually need isn't going up very quickly. So quite a few people are stretching those upgrade cycles much longer than the industry wants. Even with M$ regressing back into releasing a new "power hog" edition in the form of windows 11, people aren't going to be in a rush to "upgrade" to something that is incomplete, buggy, and slow.
Without capitalizing on one of the technologies that would push to a new technological horizons like 3D/VR/AR people will hang on the lower bound of the upgrade cycle. But no one has spent the money getting any of those technologies over the finish line where people are more comfortable living in those UI experiences for their everyday computing. There may be other and better options than pushing a new visual display technology, but any of the three could drive another fast upgrade cycle by actually giving people a reason to upgrade. So in the absence of a better plan the industry should push those instead of backing on price fixing and bloatware to pad their bottom line.