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Laptops Market Analysis, Size & Competitive Insights 2024-2033
Laptops Market Analysis
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According to The Business Research Company's, The laptops market size has grown strongly in recent years. It will grow from $113.99 billion in 2023 to $120.84 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to mobile computing trends, business and professional use, education technology integration, entertainment and media consumption, gaming and esports.
The laptops market size is expected to see strong growth in the next few years. It will grow to $160.28 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to continued remote work trends, hybrid and flexible work models, evolving educational technologies, increasing digital content creation, affordable and entry-level options. Major trends in the forecast period include focus on long battery life, increased storage capacities, enhanced graphics performance, privacy and security features, remote work-friendly features.
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Market Drivers and Trends:
The growing internet penetration is expected to fuel the growth of the laptops market in the forecast period. Globally, the number of internet users is increasing by more than 8% annually and the average global internet user spends over 6 1/2 hours per day online. More than three quarters of the world's larger economies of internet users go online via desktops and laptops. For instance, in February 2023, according to Meltwater, a Netherlands-based software company, internet users in the UK climbed by 224 thousand (+0.3 percent) between 2022 and 2023. There were 66.11 million internet users in the UK overall. Therefore, the growing internet penetration is expected to drive the growth of the laptop market during the period .
Major companies operating in the laptop industry are focusing on developing all-in-one laptops and desktops to drive their revenues in the market. For instance, in September 2023, AsusTeK Computer Inc. a Taiwan-based company that manufactures laptops launched a new lineup of all-in-one laptops and desktops. This new lineup includes the Asus S500SE, Asus S501ME, and ROG DT. Asus S500SE which features an Intel Core i7 processor that can reach the 13th generation, is excellent for a variety of tasks, including daily content creation and home entertainment. Asus ROG DT G22 features an Intel Core i7 processor and is made with gamers in mind and games and programs run smoothly on it .
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Major Key Players of the Market:
AsusTek Computer Inc., Apple Inc., Samsung Electronics Co. Ltd., Microsoft Corporation., AT&T Inc., Bosch GmbH, Dell Technologies Inc., Huawei Investment & Holding Co. Ltd., Sony Group Corporation, Amazon Web Services Inc., Siemens AG, Lenovo Group Ltd., Lucky-Goldstar Electronics Ltd., Panasonic Corporation, Hewlett-Packard Company, Haier Group Corporation, Xiaomi Inc., Honeywell International Inc., Alcatel-Lucent S.A, Fujitsu Limited, Ericsson AB, Nokia Corporation, Toshiba Corporation, NEC Corporation, Koninklijke Philips NV, Hisense Electrical Co. Ltd., Acer Inc., Micro-Star International Co. Ltd., Razer Inc., Aeris Communications Inc.
Laptops Market 2024 Key Insights:
• The laptops market size is expected to see strong growth in the next few years. It will grow to $160.28 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%.
• Internet Penetration Driving Global Laptop Market Growth
• All-In-One Laptops And Desktops To Drive Revenues In The Market
• The North America was the largest region in the laptops market in 2023
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