Laptop Sales Reach Record Highs Amidst Shift to Hybrid Work Models: Market Report Analysis

A recent report from Allied Market Research titled "Laptops Market" reveals that the market, valued at $168.64 billion in 2021, is projected to reach $257.4 billion by 2031, with a Compound Annual Growth Rate (CAGR) of 4.4% from 2022 to 2031.

Laptops are compact, portable PCs with integrated components such as a screen monitor, keyboard, webcam, CPU, and trackpad. They are commonly used for everyday tasks such as work, education, gaming, browsing the internet, and entertainment. Laptops are also compatible with various peripherals like trackballs and joysticks. They are designed for low power consumption and operate on both battery and AC power. High-performance laptops equipped with advanced hardware and software components are utilized for tasks such as 3D rendering, coding, graphic designing, and audio-video editing.

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Additionally, laptops offer portability and affordability compared to traditional desktop PCs. The adoption of bring-your-own-device (BYOD) practices by companies is a key factor driving market growth. Furthermore, the development of smart batteries, providing extended and efficient power, is a significant technological advancement.

The market is primarily driven by the increasing adoption of laptops in educational institutions and rising consumer demand. However, the market growth faces challenges due to the growing popularity of smartphones and tablets. Nevertheless, the rising demand in corporate sectors presents promising opportunities for the laptops industry.

The impact of the COVID-19 pandemic on the global economy has led many businesses to rapidly transform their operations. The recession caused by the pandemic has affected various industries, yet the technology sector, including laptops and PCs, has experienced lesser impacts. Lockdowns have accelerated the adoption of new technologies like laptops, aiding businesses in managing operations efficiently, enhancing agility, and ensuring organizational resilience. For example, in 2021, Acer partnered with Dixon Technologies to manufacture laptops at Dixon's modern facility, with the capacity to produce up to 500,000 Acer laptops annually. Despite economic challenges during the pandemic, numerous manufacturers invested in laptops to enhance digital workplace operations and efficiency.

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The laptops market can be segmented based on several factors, with key divisions including type, end-user, operating system, and region. In terms of types, the market offers a range of options such as traditional laptops, 2-in-1 convertibles, gaming laptops, and ultra-thin notebooks. Each type caters to different user needs, with traditional laptops focusing on general computing tasks, 2-in-1 convertibles providing versatility with their ability to transform into tablets, gaming laptops offering high-performance specifications for gaming enthusiasts, and ultra-thin notebooks emphasizing portability and sleek design.

Further segmentation arises from the diverse end-user base, which includes individual consumers, educational institutions, businesses, and government sectors. Individual consumers often seek laptops for personal use, entertainment, and productivity, while educational institutions may require them for student learning and research purposes. Businesses and government sectors frequently utilize laptops for office work, data management, and communication needs, often in bulk quantities for their employees.

In terms of screen size, the 15.0" to 16.9" inch segment dominated the market in 2021 and is expected to maintain its dominance due to the widespread use of laptops for work, school, and entertainment. On the other hand, the 11" to 12.9" inch segment is anticipated to witness the highest growth, driven by the demand for laptops offering enhanced performance and productivity with distinct features.

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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.

Operating systems also play a crucial role in segmenting the laptops market. The three primary operating systems are Windows, macOS, and Chrome OS. Windows laptops are versatile and widely used across various sectors due to their compatibility with numerous software applications. macOS laptops, exclusive to Apple products, are popular among creative professionals for their robust performance in design, video editing, and multimedia tasks. Chrome OS laptops, on the other hand, are known for their affordability, simplicity, and integration with Google services, making them appealing choices for educational institutions and budget-conscious consumers.

Geographical segmentation further delineates the laptops market, with regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa showcasing distinct trends and demands. North America and Europe often lead in terms of technological advancements and high-end laptop adoption, driven by consumer preferences for premium features and brand recognition. The Asia Pacific region, including countries like China, India, and Japan, experiences significant growth due to a large population, increasing disposable income, and a burgeoning IT infrastructure. Latin America and Middle East & Africa regions exhibit growing demand for laptops, fueled by rising internet penetration, expanding education initiatives, and a burgeoning start-up culture.

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In conclusion, the laptops market segmentation based on type, end-user, operating system, and region reflects the diverse preferences, needs, and technological landscapes across different consumer segments and geographical locations. Understanding these segments is crucial for laptop manufacturers, retailers, and marketers to tailor their products, services, and strategies to effectively target and serve their respective markets.

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.

Leading market players' CXOs indicate a remarkable surge in the laptops market since its inception, with further significant expansion anticipated in the coming years. The business landscape has undergone notable shifts in processes, operations, and industrial automation due to the pandemic. This has prompted enterprises to embrace digitalization and ramp up their adoption of Industry 4.0 to navigate the challenging competitive environment. The market growth is primarily fueled by consumer demand for computing devices like laptops, valued for their efficiency and portability. Recent years have seen a pronounced shift in consumer preference towards laptops, driven by their convenience. Technological advancements have transformed laptops, once predominantly used for entertainment, into versatile tools for education, professional work, and personal and commercial applications. This evolving landscape is expected to propel market growth throughout the forecast period.

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