Laptop Market Size to grow by USD 22.22 billion between 2024-2028
According to a research report “ Laptop Market” by End-user (Business, Personal, Gaming) Type (Traditional laptop, 2-in-1 laptop) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 22.22 billion, at a CAGR of 3.2% during the forecast period. The corporate sector's expansion and the resulting increase in office spaces have significantly boosted the demand for laptops. This trend is evident in the notable growth in office real estate leasing in India during 2019, indicating a thriving corporate environment. Furthermore, the proliferation of technology and business parks worldwide has intensified the need for computing devices, including laptops and desktops, among businesses. The escalating preference for remote work arrangements among employees and the continuous demand from enterprise clients are projected to fuel the laptop market's growth throughout the forecast period..
Browse market data tables, figures, and in-depth TOC on “Laptop Market” by End-user (Business, Personal, Gaming) Type (Traditional laptop, 2-in-1 laptop) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By End-user, the Business segment is projected to dominate the market size in 2024
The laptop market witnesses a significant dominance from the business sector due to the device's mobility and flexibility, enabling productivity and performance enhancement for traveling and remote work. Laptops are optimized tools that prioritize security and privacy for company data and systems. They are indispensable for businesses, facilitating productive tasks such as web marketing, data storage, and customer communication via online tools. Laptops streamline administrative duties, including bill payments and record keeping, making them an essential investment for businesses.
By Type, Traditional laptop segment is expected to hold the largest market size for the year 2024
In the laptop market, traditional laptops dominated with over 90% market share and substantial revenue generation in 2023. This dominance can be attributed to their widespread adoption, user-friendly design, and dependability. Traditional laptops, characterized by a clamshell form factor with a keyboard and screen facing each other, remain the preferred mobile computing devices. Their advantages include portability, ease of use, and compactness. Despite having screens ranging from 10 to 17 inches, traditional laptops can be connected to external display devices, expanding their functionality.
North America is forecasted to hold the largest market size by region in 2024
The North American region is projected to lead the global laptop market over the forecast period, given the presence of major vendors, the burgeoning gaming industry, and the expanding 5G Internet infrastructure. Key players, such as Apple Inc., Dell Technologies Inc. (Dell), HP Inc., and Microsoft Corp., headquartered in this region, enjoy extensive distribution networks, enabling them to effectively manufacture and sell laptops. Moreover, the region's significant gaming population, with millions of adults in the US engaging in gaming activities in 2020, further fuels market growth.
The Laptop Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The laptop market is witnessing significant growth in various sectors, including Personalized Learning in the Education sector, Professional eSports Gamers, and Mid-Range Consumers in the Personal Segment. BYOD (Bring Your Own Device) trends in workplaces have fueled the demand for advanced laptops with high computing power and multitasking capabilities. Original Equipment Manufacturers (OEMs) are catering to the needs of diverse consumer groups. Affordable Android laptops are popular among budget-conscious consumers, while high-end, advanced laptops with high-refresh-rate displays, cooling solutions, and high-speed graphic cards are preferred by gaming culture enthusiasts and eSports participants. The growing Internet connectivity and digital transformation have led to a surge in online sales through eCommerce platforms. Digital payments and online transactions have made purchasing laptops more convenient than ever. The work-from-home model has increased the demand for laptops with flexibility and system performance. Artificial Intelligence and machine learning have become essential features in modern laptops, enhancing system performance and user experience. Gaming laptops with advanced features like high-speed graphic cards and cooling solutions are driving the growth of the gaming culture, with increasing numbers of gaming tournaments and video games. In conclusion, the laptop market is evolving rapidly, catering to the diverse needs of consumers, from education to gaming and professional use. With the increasing trend of work-from-home and digital transformation, the demand for laptops with advanced features and high computing power is expected to continue.
Market Research Overview
The laptop market is experiencing a surge in demand driven by the gaming culture, eSports tournaments, and the work-from-home model. Gaming laptops are leading the charge, with cooling solutions and high-refresh-rate displays becoming essential features for professional eSports gamers. Graphic cards are a key differentiator, with high-end models offering superior processing speed and mobility. Competition among gaming laptop suppliers is fierce, with traditional laptop manufacturers and emerging players vying for market share. Mid-range consumers are also catered to with budget-friendly gaming laptops. The 2-in-1 laptop segment is gaining popularity due to its flexibility and multitasking capabilities. The gaming industry's growth is driving innovation in laptop manufacturing and the supply chain network. Solid state drives, artificial intelligence, and personalized learning are becoming standard features. The education sector is also embracing laptops for digital transformation. In developing countries, affordable Android laptops and growing internet connectivity are driving demand. The price-performance ratio is a critical factor, with hardware life and ports and docking also important considerations. Ultra-thin body designs, high-speed graphic cards, and advanced laptops are pushing the boundaries of computing power. The eCommerce industry is thriving, with online sales dominating. E-commerce platforms offer convenience and flexibility, with digital payments and internet infrastructure enabling seamless transactions. The BYOD trend is also driving demand for laptops in small towns and metropolitan cities alike. The processing speed, flexibility, and mobility of laptops make them an indispensable tool for personal and professional use.
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