Laptop market is anticipated to grow at a considerable CAGR of 4.1% during the forecast period. The market growth is attributed to factors such as the increasing demand from corporate offices and the gaming industry. Further, technological advancements and changing consumer preferences are some of the other factors fueling the demand for laptops. For instance, the India Cellular & Electronics Association (ICEA) stated that the global market size of the IT hardware segments, including laptops and tablets, reached 210 billion US dollars in 2020-21. The rise in demand for corporate laptops can be attributed to the growing reliance on technology in businesses and the demand for efficient and portable computing devices. These corporate laptops provides advanced features, enhanced security measures, and robust performance capabilities, enabling professionals to carry out their work seamlessly and effectively. The expanding IT industry has created a fertile ground for laptop manufacturers to innovate and develop cutting-edge devices tailored to meet the specific requirements of businesses. There are many options available in the market, and some of the best business laptops include Lenovo ThinkPad X1 Carbon, Apple MacBook Pro, HP EliteBook 840 G9, LG Gram 17, and Acer Swift 3 14. These laptops offer a combination of comfort, performance, battery life, security, and durability, making them ideal for business use.

Segmental Outlook

The global laptop market is segmented based on its application and size. Based on application, the market is segmented into corporate offices, gaming, and others. Based on the size, the market is categorized into small/mini laptops, 13 to 14-inch laptops, 15 to 16-inch laptops, and 17-inch and above laptops. Among application, the gaming sub-segment is expected to witness a significant growth, driven by the increasing popularity of gaming laptops and the rising number of gaming enthusiasts worldwide.

The 13 to 14-inch Laptops Sub-segment is Anticipated to Register Significant Growth Over the Forecast Period

 The 13 to 14-inch laptops sub-segment is anticipated to register significant growth due to their portable design and versatility, catering to the needs of both professionals and students. With a balance between screen size and usability, these laptops offer convenience and productivity. They feature powerful hardware configurations for smooth performance and multitasking. The increasing adoption of remote work and online learning further drives the demand for these laptops. For instance, in April 2023, HP launched four new laptops in India, specifically targeting Generation Z and millennials. The HP Pavilion Plus laptops are designed to meet the diverse requirements of these demographic groups. One of the models, the HP Pavilion Plus 14, is tailored for the hybrid lifestyle, offering features like multi-touch capability and multiple ports. It boasts a 14-inch FHD IPS display, a 13th Gen Intel Core i3 processor, up to 16GB RAM, and 512GB storage. Weighing 1.41kg, it includes a USB Type-C port, two USB Type-A ports, a headphone/microphone combo jack, and an HDMI port.

Regional Outlooks

The global laptop market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). Among these, the Asia-Pacific region is projected to experience considerable growth in the laptop market owing to the growing trend of workf-from-home (WFH) trend post COVID-19 pandemic.

Global Laptop Market Growth, by Region 2023-2030

North America is Anticipated to Account for a Significant Share of the Global Laptop Market 

North America is anticipated to account for a significant share of the global laptop market during the forecast period. The regional market growth is primarily driven by factors including strong economic conditions, technological advancements, increasing demand for laptops in corporate offices and educational institutions, and the growing trend of remote work and online gaming. North America has a robust infrastructure and a well-established distribution network, allowing market players to effectively cater to the rising consumer demand. Additionally, the presence of major market players such as Apple, DELL, and HP, among others further propelled the market growth, as these players are continuously focusing on manufacturing laptops equipped with high-end features and upgraded technology. For instance, in April 2023, Dell launched 11 new laptops under its Latitude and Precision series for business customers. The new laptops come with improved security features and are designed to help ease hybrid work models. The Latitude 9440 is the most premium business notebook in the new Latitude lineup.

Market Players Outlook

The major companies serving the global laptop market include HP Inc., Dell Technologies Inc., Lenovo Group Ltd., Apple Inc., Acer Inc., ASUSTek Computer Inc., Microsoft Corp., Samsung Electronics Co., Ltd., Toshiba Corp., and LG Electronics Inc. These market players are considerably contributing to the market growth through various strategies, including product innovation, strategic partnerships, mergers and acquisitions, and expanding their distribution networks to cater to the growing demand for laptops worldwide. For instance, in January 2023, Apple introduced the new MacBook Pro models powered by M2 Pro and M2 Max chips, delivering impressive performance and the longest-ever battery life in a Mac. The M2 Pro chip offers a 14% CPU speed improvement and 22% faster graphics, while the M2 Max chip boasts 30% greater graphics performance and a powerful media engine compared to the M1 Max. Both versions provide a significant boost in performance and offer up to 22 hours of battery life, with the MacBook Pro 14 M2 Pro lasting up to 24 hours. The MacBook Pro 14 features a 10-core CPU, 16-core integrated GPU, and 16GB of RAM, while the M2 Max variant offers a 12-core CPU, 38-core GPU, and up to 96GB of unified memory. The MacBook Pro 16 with M1 Max chip achieved an impressive 22.5 hours of battery life.

The Report Covers

• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global laptop market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.