Laptops Market Explosive Growth Forecasted, Expected to Reach USD 257.4 Billion by 2031

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 is a small, portable PC with components integrated into it. It is a laptop computer with an integrated screen monitor, keyboard, webcam, CPU, and trackpad. Regular duties like formal work, education, gaming, internet browsing, and enjoyment are frequently carried out on laptops. It is also compatible with a variety of peripherals, including trackballs and joysticks. It is designed for low power usage and is powered by a battery and an alternating current (AC) connection. High-performance laptops with sophisticated software and hardware components are utilized for advanced activities including 3D rendering, coding, graphic designing, and audio and video editing.

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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, the 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.

The 2-in-1 Laptop segment is expected to experience significant growth in the coming years, owing to adoption of laptop due to cost effectiveness and transportability of these devices. Buying a 2-in-1 laptops is much cheaper than buying two different devices drive growth of the market.

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The key players profiled in the laptops market analysis are 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 players have adopted various strategies to increase their market penetration and strengthen their position in the laptops industry.

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 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 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 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.

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.

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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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