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The Laptop Market size is estimated to grow by USD 22.22 billion at a CAGR of 3.2% between 2023 and 2028. The market growth is significantly drive by the rising integration of laptops in educational settings. Educational institutions, encompassing schools and universities, are embracing laptop usage in classrooms due to various factors like affordability, wireless connectivity, and ease of use. Laptops serve multiple purposes for students, including note-taking, collaboration, writing, editing, assignment management, assessments, and interactive learning.
Another powerful factor in market expansion is the increasing adoption of gaming laptops. The global increase in video game popularity among youth drives the demand for gaming laptops. These devices boast higher processing speeds and solid-state drives and are made for gaming with features like high-refresh-rate displays and efficient cooling solutions. The segment of economical gaming laptops is witnessing growth, catering to eSports participants and gaming tournament enthusiasts, attracting competition among gaming laptop suppliers.
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The increase in AIO laptops represents a new era in computing, integrating features like AR VR for captivating experiences. These devices prioritize both battery life and performance which fulfill the demands of modern consumers. With sleek designs and powerful capabilities, such laptops create a balance between innovation and affordability, making cutting-edge technology accessible to a wider audience.
The business segment is estimated to witness significant growth during the forecast period. The laptop facilitates mobility and flexibility at work, especially for traveling or remote work. In addition, a laptop is an optimized device that enhances the productivity and performance of the business. Furthermore, it also ensures the security and privacy of company data and systems.
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The business segment was the largest segment and was valued at USD 57.92 billion in 2018. Moreover, laptops are continuously being used in companies where they are engaged in productive tasks such as web marketing. In addition, laptops serve as the best place for storing the information of business for a longer period. Furthermore, it enables faster communication with the customers by using the Internet online communication tools, performing administrative tasks that include paying the business bills, keeping the record, and marketing the respective business line. Hence, such factors are fuelling the growth of this segment, which in turn drives the market during the forecast period.
The high processing power as well as battery life of the traditional segment will increase the laptop market growth. Factors such as the high adoption, ease of use, and reliability of traditional laptops, as well as the increasing adoption of gaming laptops, are fuelling the growth of this segment. In addition, traditional-laptops are the most popular mobile computing devices such that they offer many advantages over desktop computers, including portability, ease of use, and compact size. Furthermore, traditional laptops also offer advantages over 2-in-1 laptops, such as larger screen sizes, more powerful processors, and higher storage space. Hence, such factors are fuelling the growth of this segment, which in turn drives the market-growth during the forecast period.
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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the main factors that are contributing to the market in North America include the presence of key vendors, the growth of the gaming industry, and the increasing penetration of 5G Internet services. In addition, several market players, including Apple Inc., Dell Technologies Inc. (Dell), HP Inc., and Microsoft Corp. are headquartered in the region, which provides them extensive access to distribution channels for the manufacturing and sales of laptops.
Moreover, the popularity of video games is high in the region. For example, in 2020, millions of adults in the US were indulged in video gaming activities. Hence, key vendors in the region have several growth opportunities, such as the development of gaming-laptops. Hence, such factors are driving the market growth in North America during the forecast period.
The market size is experiencing substantial growth, driven by the increasing application of laptops in educational institutions and the growing internet connectivity across various regions. A trend in this market is the increasing adoption of gaming laptops, by rising interest in gaming tournaments and the demand for high-speed graphic cards and ultra-thin body designs.
However, amidst these drivers and trends, challenges persist, particularly the increasing capabilities of smartphones and tablets, which pose a threat to traditional laptop usage. To stay competitive, laptop manufacturers must focus on delivering advanced laptops with enhanced system performance, design, and price-performance ratio while embracing digital transformation and integrating artificial intelligence technologies. Moreover, targeting the personal segment and expanding into developing countries offer opportunities for growth despite the challenges posed by evolving consumer preferences.
The increasing application of laptops in educational institutions is one of the key factors driving the market growth. Education institutions, including schools and universities, are adopting laptop computers in their classrooms due to factors such as low costs, wireless access, and convenience. In addition, laptops help students with notetaking, collaborating with other students, writing and editing options, organizing assignments and assessments, and interactive learning.
Moreover, several schools are adopting virtual technologies and providing online courses, which allow students to learn at their convenience. For example, a large number of students are enrolling in courses provided by online course providers such as Coursera, edX, and Udemy to enhance their knowledge. Hence, such factors are positively impacting the market. Therefore, it is expected to drive the market during the forecast period.
The increasing adoption of gaming laptops is a key factor shaping the market growth. There is a growing popularity of video games across the world, especially among the youth. As a result, this facilitates the sale of gaming laptops. In addition, these laptops have higher computing power and are specifically designed for video games.
Moreover, several gamers prefer gaming laptops to desktops due to features such as advanced specifications and portability. In addition, the e increasing penetration of the Internet and the popularity of multi-player video games such as Counter-Strike have led to the development and commercialization of gaming, which, in turn, is fueling the demand for gaming laptops. Hence, such factors are positively impacting the market. Therefore, it is expected to drive market growth and trends during the forecast period.
Increasing the capabilities of smartphones and tablets is one of the key challenges hindering the market growth. Many companies across the world are developing low-cost mobile computing devices, including smartphones and tablets, to expand their customer base and geographical presence. In addition, companies are launching these products at competitive prices for price-sensitive customers.
Moreover, the increasing penetration of mobile computing devices in regions such as India, China, Japan, Australia, and Brazil is significantly impeding the growth of the market. Furthermore, in the last five years, the sales of traditional laptops decreased because of their high prices. Hence, such factors are negatively impacting the market. Therefore, it is expected to hinder the market growth during the forecast period.
The market growth and forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Acer Inc: The company offers laptops such as Predator Helios 300, Nitro 5, Aspire 7, and Aspire 5.
Alphabet Inc: The company offers laptops such as ChromeOS, which is the speedy, simple, and secure operating system that powers every Chromebook.
Apple Inc: The company offers laptops such as MacBook Pro 13, MacBook Pro 14, and MacBook Pro 16.
The market growth analysis report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Factors such as rising disposable incomes and growing internet connectivity drives the demand for advanced laptops with superior system performance and an affordiabilty. Anlong with rise in the market, there is increase in growth of laptop accessories, laptop carry case, dual screen laptops market and so on. Consumers look devices with extended hardware life and innovative features like high-speed graphic cards and ultra-thin body designs.
Especially in developing countries, where internet users are on the rise, e-commerce and digital payments facilitate access to affordable Android laptops from original equipment manufacturers. This digital transformation extends to the education sector, where initiatives like Bring Your Own Devices (BYOD) and personalized learning leverage artificial intelligence.
Supply chain networks ensure the availability of laptops equipped with the latest 11th Generation Intel Core processors and solid-state drives, catering to both the traditional laptop segment and the 2-in-1 laptop segment for enhanced multitasking capabilities and versatile ports and docking options.
In the work-from-home model, BYOD trends drive demand across personal, small towns, and metropolitan cities in emerging economies, accommodating various user segments from professional eSports gamers to mid-range consumers. As gaming culture expands, governments support game development and foster e-commerce platforms and online sales channels, enhancing collaboration and fostering a vibrant market forecasting landscape.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in USD Billion for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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Laptop Market Scope |
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Report Coverage |
Details |
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Page number |
170 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.2% |
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Market growth 2024-2028 |
USD 22.22 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
2.72 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 42% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks, Laptop Market Industry Report |
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Key companies profiled |
Acer Inc., Alphabet Inc., Apple Inc., ASUSTeK Computer Inc., Dell Technologies Inc., HP Inc., Huawei Technologies Co. Ltd., Lenovo Group Ltd., LG Electronics Inc., Micro Star International Co. Ltd., Microsoft Corp., Razer Inc., Samsung Electronics Co. Ltd., Sony Group Corp., and Toshiba Corp. |
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Market dynamics |
Parent market analysis, Laptop Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our laptop market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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