Global Laptop Market Analysis: Trends, Insights, and Forecasts 2031
One of the key drivers of the expansion of the laptop market is the growth in the use of laptops in educational institutions.
PORTLAND, PORTLAND, OR, UNITED STATES, February 27, 2024 /EINPresswire.com/ — 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.
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.
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However, the increased adoption of smartphones and tablets is likely to hinder the global market growth. On the other hand, the rise in demand for laptops in the corporate sectors will present new growth opportunities for the global laptops market in the coming years.
A laptop is a small, portable PC with components integrated into it. It is a laptop computer with an integrated screen monitor, keyboard, webcam, CPU, and trackpad. Regular duties like formal work, education, gaming, internet browsing, and enjoyment are frequently carried out on laptops. It is also compatible with a variety of peripherals, including trackballs and joysticks. It is designed for low-power usage and is powered by a battery and an alternating current (AC) connection. High-performance laptops with sophisticated software and hardware components are utilized for advanced activities including 3D rendering, coding, graphic designing, and audio and video editing.
Furthermore, laptops are more portable and more reasonably priced in comparison to the often-used desktop PCs. Companies adopt bring-your-own-device (BYOD) trends more frequently to streamline operations, which is causing the industry to grow. Other growth-promoting technological developments include the creation of smart batteries, which offer continuous power for an extended period. These batteries have the ability to regulate their voltage and current for greater operating effectiveness.
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Covid-19 Scenario
• The outbreak of the Covid-19 pandemic impacted the global laptops market positively. The popularity of laptops increased due to lockdowns imposed by governments worldwide.
• This forced the global laptops market to reconsider its production processes, which largely drives industry 4.0 and the digital transformation across the production lines.
• There was a downturn in the economy for many businesses, and many planned projects and expenditures were put to a halt due to COVID-19 restrictions. However, numerous manufacturers invested in laptops despite the financial danger during the pandemic to improve corporate operations with the digitalized workplace.
Furthermore, surge rise in adoption of laptops in educational institutions and increase in consumer demand primarily drive growth of the laptops market forecast. However, increased adoption of smartphones and tablets hamper the market growth to some extent. Moreover, rise in demand in the corporate sectors are expected to provide lucrative opportunities for laptops industry growth during the forecast period.
Depending on screen size, 15.0″ to 16.9″ inch segment dominated the laptops market in 2021 and is expected to maintain its dominance in the upcoming years, owing to adoption of laptops are frequently shared among families and are used for work, school, and entertainment. However, 11″ to 12.9″ inch is expected segment is expected to witness highest growth, owing to extensive adoption of laptops market by establishing offer the highest performance and productivity and each has a different set of features.
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Region-wise, the laptop market size was dominated by North America in 2021 and is expected to retain its position during the forecast period owing to the adoption of new technology and heterogeneity aiding the growth of the laptop market. However, Asia Pacific is expected to witness significant growth during the forecast period, owing to the adoption of laptops has been fuelled by trends like work-from-home and online learning, which is expected to fuel the market growth in this region.
Due to the impact of the pandemic on the economy, many businesses around the world have been compelled to drastically and quickly change how they operate. The COVID-19-induced recession is having a significant impact on industries all over the world, but it had a much less impact on the technology industry than it did on the rest of the economy. Lockdowns have aided the spread of new technology like laptops and PCs. Laptops assist in managing business operations efficiently while enhancing corporate agility, optimizing procedures, and guaranteeing the future of organizations. This development fuels the market expansion during the forecast period.
The key players profiled in the laptops market analysis are Acer Inc., Apple Inc., Asustek Computer Inc., Dell Technologies Inc., Haier Inc., Hewlett Packard Enterprise Company, Lenovo, Samsung Electronics Co Ltd, Sony Corporation, and Toshiba Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the laptops industry.
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