Laptops Market to Reach $257.4 Billion, Globally, by 2031 at 4.4% CAGR: Allied Market Research
Rise in internet usage globally, growth of the information technology (IT) sector, rise in digital convergence resulting in the high demand for high-performance laptops from various industries, and rise in trend of bring-your-own-device (BYOD) among businesses drive the global laptops market
PORTLAND, Ore., Jan. 17, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Laptops Market by Type (Traditional Laptop, 2-in-1 Laptop), by Design (Notebook, Ultrabook, Others), by Screen Size (Up to 10.9" Inch, 11" to 12.9" Inch, 13" to 14.9" Inch, 15.0" to 16.9" Inch, More than 17" Inch), by End User (Personal, Business, Gaming, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." 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.
Drivers, Restraints, and Opportunities
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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The traditional laptop segment to dominate in terms of revenue during the forecast period
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.
The notebook segment to dominate during the forecast period
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.
The 15.0" to 16.9" inches segment to maintain a prominent growth in 2031
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.
The gaming segment to achieve the fastest growth during the forecast period
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.
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Asia-Pacific to garner the largest revenue and fastest growth by 2031
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.
Leading Market Players
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