Laptops: A Market Landscape Analysis and Forecast - 2031
Laptops Market
rise in digital convergence resulting in the high demand for high-performance laptops from various industries driving market growth.
PORTLAND, PORTLAND, OR, UNITED STATES, February 13, 2024 /EINPresswire.com/ -- According to the report, the global laptops industry is estimated to generate $168.6 billion in 2021 and $257.4 billion by 2031, witnessing a CAGR of 4.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
A laptop, also referred to as a notebook computer, is a compact and portable computing device that operates on battery power and can be recharged using an AC adapter. Typically featuring a thickness of under 3 inches and weighing less than 5 pounds, laptops are designed with low power consumption in mind. Their thin LCD or LED displays can be folded flat for easy transport. Laptops are widely used for various tasks such as work, education, gaming, internet browsing, personal entertainment, and everyday computing needs. Market growth is driven by factors like increased internet usage, higher disposable incomes, a growing global population, and consumers' growing awareness of new technologies.
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A key driver of market expansion is the significant growth of the global information technology (IT) sector. High-performance laptops are increasingly essential across diverse industries including education, automotive, manufacturing, and medicine due to the proliferation of digital technologies. The adoption of bring-your-own-device (BYOD) practices by businesses to streamline operations further fuels market growth. Additionally, the rising demand for versatile laptops and the widespread availability of high-speed internet contribute to market expansion. Anticipated factors for future growth include increasing consumer purchasing power and a growing preference for gaming laptops, particularly among millennials.
Covid-19 Scenario
• The outbreak of the Covid-19 pandemic impacted the global laptops market positively. The popularity of laptops increased due to lockdowns imposed by governments worldwide.
• This forced the global laptops market to reconsider its production processes, which largely drives industry 4.0 and the digital transformation across the production lines.
• There was a downturn in the economy for many businesses, and many planned projects and expenditures were put to a halt due to COVID-19 restrictions. However, numerous manufacturers invested in laptops despite the financial danger during the pandemic to improve corporate operations with the digitalized workplace.
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Depending on screen size, 15.0" to 16.9" inch segment dominated the laptops market in 2021 and is expected to maintain its dominance in the upcoming years, owing to adoption of laptops are frequently shared among families and are used for work, school, and entertainment. However, 11" to 12.9" inch is expected segment is expected to witness highest growth, owing to extensive adoption of laptops market by establishing offer the highest performance and productivity and each has a different set of features.
Based on type, the traditional laptop segment contributed to the largest share of nearly four-fifths of the global laptops market in 2021, and is expected to rule the roost during the forecast period. This is due to its potable size which allows it to be conveniently transported from one location to another for work, travel, or any other purpose. Moreover, these laptops are very user-friendly because they start up quickly and run smoothly. However, the 2-in-1 laptop segment is projected to witness the fastest CAGR of 6.0% from 2022 to 2031, owing to the extensive adoption of tablet pc which is also known as 2-in-1 laptop.
Based on design, the notebook segment held the largest share of two-fifths of the global laptops market in 2021, and is expected to maintain a prominent growth during the forecast period. The same segment is expected to exhibit the highest CAGR of 5.2% in 2031. The growth of the segment is owed to the extensive use of notebook in video recording and editing.
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Based on screen size, the 15.0" to 16.9" inches segment held the largest share of more than one-third of the global laptops market in 2021, and is expected to maintain a prominent growth during the forecast period, owing to the high adoption of 15.0" to 16.9" inches laptops among families for work, school, and entertainment. However, the 11" to 12.9" inches segment is expected to exhibit the highest CAGR of 5.8% in 2031, owing to the extensive adoption of these laptops since they offer great performance and productivity, and have different features.
Region-wise, the laptops market size was dominated by North America in 2021 and is expected to retain its position during the forecast period owing to the adoption of new technology and heterogeneity aiding the growth of the laptop market. However, Asia Pacific is expected to witness significant growth during the forecast period, owing to adoption of laptops has been fuelled by trends like work-from-home and online learning, which is expected to fuel the market growth in this region.
Leading Market Players:
• Haier Inc.
• Hewlett Packard Enterprise Company
• Lenovo
• AsusTek Computer Inc.
• Dell Technologies Inc.
• TOSHIBA CORPORATION
• Acer Inc.
• Apple Inc.
• Sony Corporation
• Samsung Electronics Co. Ltd.
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