Global Laptop Market Size, Share and Growth Analysis Report - Forecast Trends and Outlook (2024-2032)

Global Laptop Market Size

The laptop market reached a value of approximately USD 168.74 billion in 2023. The market is projected to grow at a CAGR of 2.3% between 2024 and 2032, reaching a value of around USD 209.97 billion by 2032.

Global Laptop Market Outlook

• Australia's gaming sector generated $226.5 million in revenue in 2021, according to the Department of Foreign Affairs and Trade.

• In 2022, Destatis reported that Germany had 75.5 laptops, notebooks, or netbooks per 100 households.

• Japan met its 2021 goal of "one student, one device" in compulsory education via the GIGA school project.

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Global Laptop Market Growth

A laptop, a notebook computer, is a portable device designed for personal and professional tasks, combining desktop capabilities in a compact, mobile form. It includes a keyboard, display, and trackpad for input and navigation. Equipped with a CPU, RAM, storage (SSD or HDD), and connectivity options such as USB, Wi-Fi, and Bluetooth, laptops support web browsing and document creation to software development, graphic design, and data analysis.

Mobility needs, remote work, and digitalisation fuel the surge in laptop demand. Laptops enable work, study, and communication from anywhere, essential for modern life. They're vital in education, gaming, and entertainment, while businesses adopt them for flexible work arrangements. Continuous upgrades cater to evolving consumer needs and technological advancements.

In India, the Union Cabinet approved the PLI Scheme – 2.0 for IT hardware in 2023, covering laptops, tablets, all-in-one PCs, and servers. According to PIB, the scheme aims to achieve IT hardware production valued at ₹3.5 lakh crore (USD 42 billion) during its implementation boosting the laptop market share in India.

Key Trends and Developments

Gaming growth, hybrid workforce demands, sustainability focus, and emerging market expansion are the major trends impacting the laptop market trends.

March 2024

MSI introduced the Titan 18 Pro 2024 gaming laptop in China, equipped with an i9-14900HX CPU and offering NVIDIA’s RTX4080 or RTX4090 GPUs. It showcases advanced AI features for enhanced productivity and entertainment.

March 2024

JDI aims to produce 14-inch OLED screens for tablets and laptops by 2025, using eLEAP technology for affordable, high-quality AMOLED displays, modifying their Mobara OLED production site.

December 2023

Huawei announced its intention to launch the MateBook D 16 2024 in Europe, focusing on the 16-inch laptop market. Featuring an Intel Core i9-13900H processor, a 1200p screen, and a 70 Wh battery.
 

July 2023

LG released the Gram Style laptop in Canada, first showcased at CES 2023. It retains LG's hallmark lightweight design while adding elegance with an iridescent finish, captivating under different lighting.

Gaming Growth

The growing gaming demographic drives the need for powerful laptops featuring advanced graphics, immersive screens, and effective cooling, meeting gamers' desires for desktop-quality gaming while mobile.

Hybrid Workforce Demands

Hybrid work arrangements, blending office and remote settings, drive the need for adaptable laptops that smoothly switch between environments, offering improved connectivity, productivity tools, and ergonomic designs to enhance employee performance and comfort.

Sustainability Focus

Consumer awareness and regulations drive sustainability in laptop production, promoting eco-friendly materials, energy efficiency, and recycling initiatives to reduce environmental impact and meet corporate responsibility standards.

Emerging Market Expansion

Increasing disposable incomes, tech adoption, and urbanization in emerging markets fuel the global laptop market's growth, prompting manufacturers to offer affordable, feature-rich devices catering to diverse consumer preferences.

Global Laptop Market Trends/Drivers

The laptop market is expanding due to a rising emphasis on mobility, with users prioritizing portable solutions for work, study, and entertainment, leading to increased demand for compact designs. Growing remote work drives demand for laptops with enhanced communication and collaboration features, prompting advancements in connectivity and security.

The education sector's increasing reliance on laptops for e-learning and interactive content boosts market growth, with both institutions and students seeking cost-effective, durable, and feature-rich devices.

Global Laptop Market Segments

“Laptop Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

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Market Breakup by Type

• Traditional

• Touch Screen Enabled

• Touch Screen Disable

• 2-in-1

Market Breakup 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

Market Breakup by Price

• Up to USD 500

• USD 501 to USD 1,000

• USD 1,001 to USD 1,500

• USD 1,501 to USD 2,000

• Above USD 2,001

Market Breakup by End User

• Personal

• Business

• Gaming

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

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Global Laptop Market Share

Traditional laptops drive the laptop market growth due to their enduring presence, appealing to users accustomed to the familiar clamshell design, thereby improving user comfort and adoption rates.

Traditional laptops, recognized for their reliability, cost-effectiveness, and broad range, offer a classic clamshell design suitable for diverse computing needs in sectors like business, gaming, and content creation.

2-in-1 laptops blend the functionality of a traditional laptop with touch and pen input, providing versatility and portability for users. Touchscreen capabilities enhance interactivity for tasks like drawing and note-taking, while tablet mode offers immersive entertainment experiences.

Personal laptops propel the laptop industry expansion by providing convenient internet access for communication and entertainment, serving as essential tools for students to access educational resources, attend online classes, conduct research, and collaborate on projects.

Laptops, characterised by their lightweight design and mobility, facilitate users to carry out work, entertainment, and communication from any location. They fulfil diverse needs ranging from gaming to productivity, acting as central hubs for streaming, gaming, and social media interaction. Laptops ensure uninterrupted internet access, crucial for tasks like email, social networking, and online learning, essential in educational and collaborative settings.

Business laptops offer versatility for remote work, efficiency with high-performance processors, collaborative capabilities through video conferencing, data security with encryption, cost-effectiveness for small businesses, and portability for professionals on the move. These attributes enhance productivity and adaptability in dynamic work environments.

Laptops with screen sizes up to 10.9 inches drive growth in the laptop market share due to their compact and lightweight design, making them suitable for travel and convenient for tasks like note-taking, research, and classroom use.

Laptops measuring up to 10.9 inches emphasize portability with their compact, lightweight design, making them ideal for travel and easy to carry in bags. They are particularly suitable for students, aiding in note-taking, research, and basic tasks like web browsing, email, and casual entertainment.

Laptops ranging from 11 to 12.9 inches strike a balance between screen size and portability, catering to a variety of usage needs. They excel in enhancing productivity with multitasking capabilities and are suitable for creative tasks. Providing an enhanced viewing experience, they are suitable for business professionals, students, and general users, offering efficient medium-level performance for everyday tasks and light gaming.

Laptops priced below $500 bolster the laptop market value by providing economical choices accessible to students, casual users, and individuals with constrained financial means, offering budget-friendly computing solutions.

Laptops priced below $500 deliver cost-effective solutions, basic computing functions like web browsing and word processing, travel-friendly portability, moderate battery life, entry-level gaming capabilities, and compact designs, appealing to budget-conscious users seeking versatile devices.

Laptops priced between $501 and $1000 offer improved performance with upgraded processors, expanded RAM, and faster storage for enhanced multitasking. They feature Full HD displays for clear visuals, slimmer profiles for better portability, extended battery life ranging from 6 to 10 hours, mid-range gaming capabilities with dedicated GPUs, larger storage options, durable construction, additional connectivity ports, and efficient cooling systems.

Leading Manufacturers in the Laptops Market

In the competitive landscape, these companies are key players in consumer electronics and telecommunications, celebrated for their broad array of products such as smartphones, televisions, home appliances, and memory chips.

Lenovo Group Limited: Founded in 1984, with dual headquarters in China and North Carolina, Lenovo Group Limited excels globally in personal computers, smartphones, tablets, and advanced technology solutions for both business and consumer markets.

HP Inc.: Established in 2015 and headquartered in California, HP Inc. focuses on creating personal computers, printers, and related technologies, offering a wide array of products and services for home and office use.

Dell Inc.: Founded in 1984 and based in Texas, Dell Inc. is a global technology leader providing innovative computing products and services, including laptops, desktops, servers, and IT solutions for businesses and individual consumers.

Acer Inc.: Established in 1976 and headquartered in Taiwan, Acer Inc. is well-known for its extensive range of laptops, desktops, monitors, and other electronics, catering to both personal and professional needs worldwide.

Other laptop market key players are Apple Inc., ASUSTeK Computer, Inc., Samsung Electronics Co., Ltd., Sony Group Corporation, Micro-Star INT'L CO., LTD., Microsoft Corporation, Razer Inc., Xiaomi Inc., Corsair Memory Inc., LG Electronics and Panasonic Corporation among others.

Global Laptops Market Analysis by Region

The Asia Pacific region is pivotal in driving global laptop demand due to factors like rapid urbanization, rising incomes, and growth in education and business sectors. Countries like China, India, and Japan make significant contributions, with the adoption of remote work, e-learning, and digital transformation boosting sales. Manufacturers cater to diverse preferences and price ranges.

Japan, for instance, experienced a surge in gaming laptop demand, with over 7.8 million eSports enthusiasts noted in 2022 by the International Trade Administration. Additionally, Japan's high employment rate, reported by the OECD in 2019, supports increased business utilization of laptops.

Laptops have become essential tools in the daily lives of individuals across North America, catering to professionals, students, creatives, and gamers alike. The region's strong emphasis on innovation fuels demand for advanced devices that adapt to changing consumer needs, driven by trends in remote work and a thriving education sector. The US gaming community's need for high-performance laptops also plays a significant role in shaping the U.S. laptop market share.

In Canada, where 20,401,000 individuals were employed according to a March 2024 report by Statistics Canada, there has been an uptick in laptop demand. Moreover, the gaming industry, which supports 128,000 jobs and generates $8.7 billion annually as per the Canadian Gaming Association, contributes significantly to the growth of the gaming laptop market.

In Europe, laptop demand stems from professional, educational, and leisure needs, with countries like Germany, the UK, and France showing consistent demand across sectors like finance, healthcare, education, and entertainment. The rise in remote work and digital skills amplifies sales. European consumers prioritize performance, design, and security, driving steady market growth.

For instance, in the UK during the Academic Year 2021/22, an additional 500,000 laptops were allocated by the government through the Get Help with Technology initiative to educational institutions and local authorities.

Laptop Market Challenges

The laptop market experiences competition among brands, stimulating innovation and pricing challenges. Consumer purchasing power and demand fluctuate due to economic instability. Continuous investment is required to keep up with rapid technological progress.

Laptop manufacturers also face obstacles like supply chain interruptions, evolving consumer preferences, cybersecurity risks, component scarcities, changing work and education trends, environmental regulations, and price sensitivity, which demand effective management strategies.

Key Highlights of the Report

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