Laptop Market is Expected to Reach US$ 198.7 Billion by 2032 | Grow CAGR by 3.2%

Summary:

• The global laptop market size reached US$ 146.4 Billion in 2023.
• The market is expected to reach US$ 198.7 Billion by 2032, exhibiting a growth rate (CAGR) of 3.2% during 2024-2032.
• Asia Pacific leads the market, accounting for the largest laptop market share.
• Traditional laptops accounts for the majority of the market share in the type of segment due to their balance of performance, affordability, and widespread availability.
• 15.0" to 16.9" holds the largest screen size share in the laptop industry, as it is preferred by professionals and gamers seeking a comfortable visual experience.
• USD 501 to USD 1000 remain a dominant price segment in the market, owing to its affordability and reliable specs.
• Business represents the leading end use segment as companies invest in high-performance laptops to maintain operational efficiency across various departments.
• The rise of remote work and e-learning is a primary driver of the laptop market.
• Technological advancements and the integration of powerful processors are reshaping the laptop market.

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Industry Trends and Drivers:

• Rapid Technological Advancements and Innovation:

The increasing focus of manufacturers on consistently releasing new models with cutting-edge features, such as enhanced processors and superior graphics capabilities, is creating a positive outlook for the market. Moreover, the burgeoning integration of powerful processors that boost performance, allowing laptops to handle more intensive tasks such as video editing and three-dimensional (3D) rendering, is fueling the market growth. Moreover, the growing demand for longer battery life, faster charging, and lightweight designs, leading to innovation in battery technology and materials used in manufacturing, is catalyzing the market growth. Besides this, the increasing priority of consumers on portability without sacrificing power, prompting manufacturers to focus on thinner and lighter laptops with high-performance specs, is contributing to the market growth.

• Ongoing Shift Toward Remote Work and E-Learning:

The rise of remote work as companies embrace flexible work arrangements is fueling the market growth. Moreover, the ongoing shift of educational institutions toward online learning platforms, enhancing the demand for portable computing devices, is acting as a growth-inducing factor. Besides this, the increasing demand for laptops as essential tools for productivity, communication, and collaboration in varied environments is favoring the market growth. Furthermore, the heightened investment by employers and educational institutions in providing their teams and students with reliable and high-performance laptops to ensure smooth operations is stimulating the market growth. Apart from this, the growing utilization of laptops in the business sector that are equipped with collaboration tools, integrated security features, and cloud accessibility for maintaining workflow continuity across remote teams is strengthening the market growth.

• Growing Popularity of Gaming Laptops:

The increasing popularity of gaming laptops across the globe is positively impacting the market growth. Besides this, the rise of competitive gaming and the growing esports industry, spurring the demand for high-performance laptops that are capable of running the latest games at high settings, is fueling the market growth. Moreover, the introduction of gaming laptops, equipped with powerful graphics processing units (GPUs), high-refresh-rate displays, and cooling technologies, is supporting the market growth. Furthermore, gaming laptops offer the advantage of portability, allowing users to enjoy high-quality gaming experiences wherever they go. A[art from this, the burgeoning expansion of the gaming industry, boosting the need for robust hardware in gaming laptops, is fostering the market growth.

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Laptop Market Report Segmentation:

Breakup By Type:

• Traditional Laptop
• 2-in-1 Laptop

Traditional laptops account for the majority of shares due to their versatile applications across various user segments, including education, business, and casual use.

Breakup By Screen Size:

• Up to 10.9"
• 11" to 12.9"
• 13" to 14.9"
• 15.0" to 16.9"
• More Than 17"

15.0" to 16.9" dominates the market as this range offers an ideal balance between portability and productivity.

Breakup By Price:

• Upto USD 500
• USD 501 to USD 1000
• USD 1001 to USD 1500
• USD 1501 to USD 2000
• Above USD 2001

USD 501 to USD 1000 represents the majority of shares as it caters to a broad consumer base, offering sufficient performance for everyday tasks at a reasonable cost.

Breakup By End Use:

• Personal
• Business
• Gaming
• Others

Business holds the majority of shares as organizations prioritize mobile computing solutions for remote work, data security, and productivity tools.

Breakup By Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Asia Pacific holds the leading position owing to a large market for laptop driven by its rapidly growing middle class, increased internet penetration, and a rising number of tech-enthusiast consumers.

Top Laptop Market Leaders:

The laptop market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies.

Some of the key players in the market are:
• Acer Inc.
• Apple Inc.
• ASUSTeK Computer Inc.
• Dell Technologies Inc.
• Hewlett-Packard Development Company L.P.
• Lenovo Group Limited
• Microsoft Corporation
• Micro-Star International Co. Ltd.
• Razer Inc.
• Samsung Electronics Co. Ltd.
• Sony Group Corporation
• Xiaomi Inc.

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