Laptops Market Size, Growing at 4.4% CAGR to Hit 257.4 Billion

Rise in trend of bring-your-own-device (BYOD) among businesses drive the global laptops market.

PORTLAND, OR, UNITED STATES, October 3, 2024 /EINPresswire.com/ -- According to the report, the global laptops market size 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.

Rise in internet usage globally, increase in consumer knowledge about emerging technologies, growth of the information technology (IT) sector, rise in digital convergence resulting in the high demand for high-performance laptops across a variety of industries, including education, automotive, manufacturing, and medicine, rise in trend of bring-your-own-device (BYOD) among businesses, the increased demand for multipurpose laptop, and increase in spending power of consumers fuel the growth of the global laptops market. However, increased adoption of smartphones and tablets is likely to hinder the global market growth. On the other hand, rise in demand for laptops in the corporate sectors will present new growth opportunities for the global laptops market in the coming years.

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Laptop Market Overview:

A laptop is a compact, portable personal computer that integrates multiple components into a single device. It includes an integrated screen, keyboard, webcam, CPU, and trackpad, making it a complete computing solution. Laptops are commonly used for various tasks, such as professional work, education, gaming, internet browsing, and entertainment. They can connect with a wide range of peripherals, including trackballs and joysticks, enhancing their functionality.

Designed for energy efficiency, laptops operate on battery power as well as an alternating current (AC) connection. High-performance models are equipped with advanced hardware and software, enabling them to handle demanding tasks such as 3D rendering, coding, graphic design, and audio/video editing.

In comparison to traditional desktop PCs, laptops are generally more portable and often come at a lower price point, making them accessible to a wider audience. The growing trend of Bring Your Own Device (BYOD) in organizations further fuels the laptop market, as companies seek to streamline operations by allowing employees to use their personal devices for work purposes.

Technological advancements also contribute to market growth, particularly with the development of smart batteries. These innovative batteries provide prolonged power supply and feature the capability to adjust their voltage and current, ensuring optimal performance and efficiency during operation. As a result, laptops continue to evolve, meeting the diverse needs of users across various sectors.

The major companies highlighted in the laptops market analysis include Acer Inc., Apple Inc., Asustek Computer Inc., Dell Technologies Inc., Haier Inc., Hewlett Packard Enterprise Company, Lenovo, Samsung Electronics Co. Ltd, Sony Corporation, and Toshiba Corporation. These industry leaders have implemented a range of strategic initiatives aimed at expanding their market presence and reinforcing their competitive standing within the laptops sector. By adopting approaches such as product innovation, mergers and acquisitions, partnerships, and geographical expansion, they are enhancing their market reach and solidifying their leadership in the industry.

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Covid-19 Scenario

1. 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.

2. 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.

3. 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.

Market Segmentation:

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.

Based on end user, the personal segment held the largest share of nearly one-third of the global laptops market in 2021, owing to the need for personal devices by employees and customers. On the other hand, the gaming segment is expected to exhibit the highest CAGR of 5.9% in 2031, owing to an increase in the number of professional gamers in the developing nations.

Based on region, the market in North America was the largest in 2021, accounting for nearly one-third of the global laptops market, due to the adoption of a policy called Bring Your Own Device (BYOD) in small and large companies in the region. However, the market in Asia-Pacific is likely to dominate in terms of revenue and show the fastest CAGR of 5.5% during the forecast period, due to the growing adoption of work from home and online learning in the region.

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