Laptops Global Market Report 2024

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%. Historical growth stemmed from mobile computing trends, professional use, education tech integration, entertainment consumption, and gaming popularity.

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%. Forecasted growth is driven by ongoing remote work trends, hybrid work models, advancements in educational technologies, rising digital content creation, and the availability of affordable entry-level options. Anticipated trends involve a focus on extended battery life, larger storage capacities, improved graphics performance, enhanced privacy and security features, and the integration of features conducive to remote work setups.

The anticipated surge in internet usage is poised to drive growth in the laptop market throughout the forecast period. Globally, the annual increase in internet users exceeds 8%, with the average user spending over 6 1⁄2 hours online daily. Notably, more than three-quarters of internet users in major economies access the internet through desktops and laptops. For instance, in February 2023, as reported by Meltwater, a Netherlands-based software company, the UK witnessed a growth of 224 thousand internet users (+0.3%) from 2022 to 2023, reaching a total of 66.11 million users. Consequently, the expanding internet penetration is anticipated to be a key driver for the growth of the laptop market during this period.

The increasing prevalence of remote work is expected to propel the expansion of the laptops market in the coming years. Remote work, characterized by employees executing their tasks from locations outside traditional office settings, relies heavily on laptops for its facilitation. Laptops offer essential advantages such as portability, flexibility, enhanced productivity, communication capabilities, cost-efficiency, and security. According to Forbes Media LLC's June 2023 report, 12.7% of US employees engaged in remote work in 2023, and this figure is expected to rise, with an estimated 32.6 million people working remotely by 2025. Consequently, the escalating adoption of remote work is a driving force behind the growth of the laptops market.

The growing demand for smartphones and tablets is poised to impede the growth of the laptops market in the forecast period. These mobile devices increasingly serve as primary computing tools, and the efficiency gap between laptops and smartphones continues to widen, driven by rapid smartphone updates. Furthermore, several smartphones available in the market surpass laptops in terms of efficiency. The annual increase in smartphone numbers is projected to reach 9%, reaching 7.2 billion by 2023. Thus, the escalating demand for smartphones is expected to hinder the growth of the laptops market during this period.

Prominent companies within the laptop industry are strategically directing their efforts towards the development of all-in-one laptops and desktops as a key revenue-driving initiative. An illustrative example is AsusTeK Computer Inc., a Taiwan-based manufacturer, which, in September 2023, introduced a new series comprising the Asus S500SE, Asus S501ME, and ROG DT. The Asus S500SE, equipped with an Intel Core i7 processor up to the 13th generation, is designed for diverse tasks, including daily content creation and home entertainment. In contrast, the Asus ROG DT G22, featuring an Intel Core i7 processor, is specifically tailored for gamers, ensuring smooth performance for games and programs.

Leading companies in the laptops market are actively unveiling cutting-edge laptops, such as the 15-inch MacBook Air with the M2 chip, incorporating advanced features to secure a competitive advantage. Apple, a prominent US-based technology company, exemplified this strategy by launching the new 15-inch M2-powered MacBook Air in January 2023. This powerful and versatile laptop boasts improved performance and power efficiency, featuring a spacious liquid retina display available in various sizes, including 15 inches. Notable specifications include 8GB unified memory, 512GB SSD storage, a 1080p FaceTime HD camera, and Touch ID, enhancing its appeal to tech-savvy consumers.

Major companies operating in the laptops market report are 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.

The North America was the largest region in the laptops market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global laptops market share report during the forecast period. The regions covered in the laptops market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the laptops market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Primary types include ultrabooks, netbooks, notebooks, and others. Ultrabooks are thin and lightweight, offering similar or better computing functionality compared to standard laptops. They come in various screen sizes, such as over 17 inches, 15.0 to 16.9 inches, and 13 to 14.9 inches. Laptops serve personal, business, and gaming purposes predominantly.

The laptops market research report is one of a series of new reports that provides laptops market statistics, including laptops industry global market size, regional shares, competitors with a laptops market share, detailed laptops market segments, market trends and opportunities, and any further data you may need to thrive in the laptops industry. This laptop's market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The laptops market consists of sales of laptops which are portable and compact personal computers with the same capabilities as a desktop computer. These include the ultrabook, netbook, notebook, and others. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.