Data shows that pent-up demand for new iPad models is building
In the early years of the tablet market, it quickly became apparent that tablet owners weren't upgrading their tablets every other year which was the custom for many phone owners at the time. Tablets don't get as many new features as phones do every year or two and while they showed their versatility as a WFH device during the COVID years, they are just not as mobile as smartphones are, especially the Wi-Fi-only variants.
According to data compiled by Consumer Intelligence Research Partners, LLC (CIRP), the percentage of iPad users waiting three years or longer to upgrade has risen sharply from 28% in 2022 to 40% this year. Keep in mind that in 2023, for the first time since the first iPad was unveiled in 2010, Apple went a full year without releasing one new tablet.
While the percentage of iPad owners waiting three or more years to upgrade has increased over the last three years, the percentage of those upgrading in less than a year has dropped by a third to 10% in 2024 from 15% in 2022. The percentage of those upgrading to a new iPad in 1-2 years has also suffered a noticeable decline to 25% this year from 34% in 2022. The number who upgrade in 2-3 years has remained fairly stable moving up from 23% in 2022 to 25% in 2024.
The percentage of iPad owners waiting 3 years or longer to upgrade has risen from 28% in 2022 to 40% this year
The increase in the number of iPad users waiting three years or longer to upgrade does provide Apple with a benefit. Some of these owners using aging iPad models could soon be at the point where they find themselves needing to purchase a new iPad model to replace the one they currently use. As the number of iPad users with older tablets increases, it creates pent-up demand for new iPads that will eventually be, at the least, partially fulfilled.
Apple just held its "Let Loose" event which introduced the first iPads to sport OLED displays, the 11-inch and 13-inch iPad Pro (2024). To help those who want to own a 13-inch iPad but don't want to pay $1,299 and up, Apple has launched a new 13-inch iPad Air model that uses an LCD display and is priced at $799 and up. The iPad Air is also available with an 11-inch display.
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