Laptop Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2024-2032, Segmented By Product Type (Traditional Laptop and 2-in-1 Laptop), By Screen Size (Up to 11 Inch, 11.1 Inch to 14 Inch, 14.1 Inch to 17 Inch and More than 17.1 Inch), By Price (Up to USD500, USD501 to USD1000, USD1001 to USD1500, USD1501 to USD2000 and More than USD2001), By Application (Personal, Business an
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationLaptop Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2024-2032, Segmented By Product Type (Traditional Laptop and 2-in-1 Laptop), By Screen Size (Up to 11 Inch, 11.1 Inch to 14 Inch, 14.1 Inch to 17 Inch and More than 17.1 Inch), By Price (Up to USD500, USD501 to USD1000, USD1001 to USD1500, USD1501 to USD2000 and More than USD2001), By Application (Personal, Business an
The global laptop market is expected to grow during the forecast period because rising working population has led to an increase in demand of laptops for business as well as personal use. Moreover, the rising disposable income of the consumer is expected to drive the market growth during the forecast period.
A growing number of consumers nowadays want cross-functional devices with integrated features and capabilities. This has prompted the creation of multifunctional devices. Laptops have a wide range of applications, including several usages from business and education to entertainment. Furthermore, increasing internet penetration, high investments in advance technology devices, the availability of low-cost devices because of mass production, and a wide range of diverse applications are expected to boost the market. For instance, in 2022, according to broadband search .net, Social media usage in particular is 15% from laptops or desktops.
Significant growth in the information technology (IT) industry across the globe is one of the key factors creating a positive outlook for the market. With rising digital convergence, there is an increasing requirement for high-performance laptops across various industries, such as education, automobile, manufacturing and medical. The increasing adoption of multifunctional devices, such as laptops, in various industries to improve works such as educational processes, automobile, manufacturing, medical, and logistics, as well as the growing trend of bringing own device (BYOD), are the major growth drivers for the laptop market.
The sale of laptops is expected to rise because of government policies promoting a digital economy and improving internet infrastructure, which are expected to drive market growth. Increased government initiatives such as Make in India, Made in China 2025, and Digital India, as well as increased foreign direct investment in retail and e-commerce, are expected to boost regional laptop sales. Furthermore, government policies aimed at lowering import duties on spare parts are expected to have a positive impact on the country's market.
There are variety of factors that are expected to drive market demand, such as rising consumer expenditure capacities and an increasing preference for gaming laptops, particularly among millennials, are expected to drive market growth. The thriving gaming industry and widespread use of laptop computers for leisure purposes are also driving market growth.
Furthermore, the global laptop market has the potential for expansion as the prices of these products fall. More laptop purchases are expected as the price of laptops falls. This is expected to have a direct impact on the number of products purchased, which will increase demand for and production of laptops. As a result, these factors will contribute to the expansion of profitable business opportunities in the global laptop market during the forecast period.
Increase in Adoption of Laptop in Educational Sector Aid the Global Laptop Industry
The increased use of laptop computers in educational institutions is one of the key drivers of the global laptop market's expansion. Laptop computers are being used in classrooms by educational institutions such as schools and colleges because of benefits such as affordability, wireless connectivity, and convenience. It facilitates students' notetaking, group collaboration, writing and editing options, assignment and assessment organization, and interactive learning. Furthermore, schools are implementing virtual technology and offering online courses, allowing students to learn whenever it is convenient for them. Laptops are widely used in educational institutions around the world to improve a teacher's effectiveness and to assist students in their learning. Thus, these factors result in increasing the market demand over the projected years.
Moreover, the need for high-performance laptops is growing as digital convergence progresses. The digitization of education in developing countries, as well as the growing corporate sector, will increase demand for these products in the coming years, resulting in an increase in the market of global laptops.
Advancement in Technology Boost the Market Demand
The introduction of new product technologies is expected to create an opportunity for market expansion during the forecast period. The various technological advancements, such as the creation of smart batteries that offer continuous power supply for an extended period, which is functioning as another growth-inducing driver. The batteries have the ability to regulate their voltage and current for greater operating effectiveness. For instance, in 2022, Dell launched new series of laptop that is XPS 13 in the Indian market that is powered by the latest 12th Gen Intel EVO processors. The new laptop series offers 'Eyesafe' technology, which intelligently manages light energy at the source, reducing harmful blue light, while maintaining visual quality.
Similarly, in 2022 ASUS has released a number of gaming laptops under its ROG and TUF lines, as well as ZenBook, Chromebooks, and ExpertBook lines. Also, in 2022, HP targeted the hybrid-work niche with a number of new launches. Several new laptops were launched at the event, ranging from premium ultraportable laptops to Chromebooks. The HP new product line for laptops is HP Elite Dragonfly G3, HP Elite Dragonfly Chromebook Enterprise, and HP Elitebook x360 1040 G9 and HP EliteBook 1040 G9. This factor is expected to boost the market growth of the global laptop market during the forecast period.
Continuous Innovation in Laptop Designing Boosts Market Growth
This may be attributable to ongoing design advances that are resulting in reduced size. Furthermore, this type combines the functionality of a laptop and a tablet into a single device, providing advantages such as energy-efficient processors, an increased number of connectivity options such as wirelessly, with an ethernet cable, networking card and tethering by cell phones, growing demand for new generation processors which are based on new core architectures that significantly improve performance for gaming, , and business applications, and the latest hardware and software are becoming more prevalent with advanced features, in which is expected to drive market growth during the forecast period.
Increasing Demand for Easy Portable Devices Boosts Market Growth
Increased demand for portable systems such as laptop to enhance performance drives market growth. For instance, in 2021, Apple launched MacBook Pro 16 with features such as lightweight and a non-removable battery. In In comparison to traditional desktop computers, laptops are less expensive and can be folded flat for easy transportation. It combines all of desktop computer's input/output components into a single unit. A display screen, small speakers, a keyboard, a data storage device, a processor, and memory cards are among the components. Furthermore, laptops are rapidly getting popular in the corporate sector because they can handle most of the work done by powerful desktop computers while also providing mobility, ease of use, and increased desk space.
Ability of Substitute Products Hinderance the Market for Global Laptop
While the global laptop market is expected to grow during the forecast period, there are some factors that could hinder the industry's progress. The increased popularity and adoption of other portable devices, such as tablets and smartphones, are the most notable factors that could pose a challenge to the global laptop market. These devices provide Internet access and can be connected via Wi-Fi, making them even more convenient to use because they are more compact and portable than laptops.
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Market Segmentation
The laptop market is segmented based on product type, screen size, price, application, and distribution channel.
Company Profiles
Acer Inc., Apple Inc., ASUSTeK Computer Inc., Dell Technologies, Inc., HP Development Company, L.P., Micro-Star International Co., Ltd. (MSI), Razer Inc., Microsoft Corporation, Lenovo Group Limited, Samsung Electronics Co., Ltd. are
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