The global laptop market size was accounted for USD 101.67 billion in 2017 and is projected to grow with a CAGR of 0.4% in terms of revenue over the forecast period, from 2018 to 2025. This market is expected to grow at a CAGR of 1.0% in terms of volume over the same period. Rising awareness on new technologies, rapidly evolving lifestyles and increasing internet penetration are some of the key factors driving the market growth.
Currently, consumers prefer multi-functional devices that offer several features in a single device. Laptops offer a wide range of applications such as education, business and entertainment. Therefore, diverse applications of laptops, high investment in developing advanced features by market players and affordable cost due to mass production of laptops are other features expected to surge the market growth in the next few years.
Factors such as constant innovation in laptop features coupled with increasing digital convergence by market players are expected to propel the demand for these devices during the projected period. Increasing demand for gaming devices among young population and rapid growth of the e-commerce industry is anticipated to poise the market growth.
On the other hand, growing adoption of advanced smartphones is expected to hinder the market growth. These smartphones offer numerous benefits compared to laptops such as cameras, mobile payments, GPS, music, internet access, location-based advertising and seamless communication which is expected to restraint market growth.
The market is classified into 2-in-1 and traditional laptops. In 2017, traditional laptops accounted for the largest market share of more than 90% in terms of revenue. This high revenue market share is attributed to increasing demand for these laptops among end-users, especially in gamers. Further, these laptops offer several benefits such as bigger screen size, powerful processor, increased Random Access Memory (RAM), more storage space and others.
On the other hand, the 2-in-1 laptop segment is projected to grow with the fastest CAGR over the forecast period. This is due to constant product development, especially in designs, easy portability, lightweight, availability of ports and efficient processor.
On the basis of screen size, the laptop market is fragmented into Up to 10.9", 11" to 12.9", 13" to 14.9", 15.0" to 16.9", and More than 17". The screen size with 15.0” to 16.9” has enhanced storage, wide-screen displays, and powerful processors and is used for several end-use applications. Thus these screen size laptops are also known as a desktop replacement. Apart from gaming, these laptops are widely used in offices to maximize productivity. Therefore, in 2017, this segment held more than 50% market share in terms of revenue and expected to retain high revenue share over the forecast period.
The 13" to 14.9" is emerging as the fastest-growing segment over the forecast period, as laptops with such screen size give a better balance between portability and usability. In addition, they are suitable for business and gaming applications, as they have enhanced graphics cards, sufficient storage, and high-resolution display. Therefore, a rise in the sale of these laptops is expected to surge the market growth during the forecast period.
Based on price, the market is segmented into Up to USD 500, USD 501 to USD 1000, USD 1001 to USD1500, USD 1501 to USD 2000, and above USD 2001. USD 501 to USD 1000 segment accounted for the largest market share, in 2017 and expected to grow with the fastest CAGR over the forecast period, in terms of revenue. Several features available in this range of laptops are influencing consumers to purchase these laptops, thereby expected to drive the segment growth in the next few years. In addition, these range laptops are suitable for gaming, personal, and business applications and offer a wide display screen, attractive design, robust processor and long battery life.
Based on end-use, the market is segmented into personal, gaming and business. Key market players such as HP Development Company, L.P., Dell, and Lenovo are focusing on developing robust laptops for business applications, as small & large enterprises perform several tasks like presentations, coding and programming, document editing, and graphics design. Recently, several IT companies are adopting either Bring Your Own Device (BYOD) policy or providing laptops to their employees. This factor is expected to drive the market growth in the business segment.
Moreover, business laptops comprise wide-screen displays, faster processors, enhanced connectivity options, and rugged design. In addition, they have a long lifespan and availability at an affordable cost. Hence, in 2017, these factors are responsible for accounting leading market share in the business segment.
The laptops market is expected to grow with the highest CAGR in the gaming sector. This growth is attributed to the increasing popularity of augmented/virtual reality-based games among youngsters and professional game players. Therefore, major OEMs are focusing on developing laptops for such end-users with low cost and attractive offers.
The covid-19 pandemic has witnessed a positive impact on the market. Due to sudden shift to remote learning and work from home during outbreak of COVID-19, has increased the demand for laptops. Most of the people are preferring laptops due to its easy connectivity and mobility. During this situation, laptops are becoming an essential commodity for personal use and enterprises, as they are looking for security, connectivity and mobility.
Several companies have introduced laptops with advanced features due to sudden increase in demand for laptops. In June 2020, Lenovo has introduced the IdeaPad Slim 3 in the market and featuring, hybrid storage, Intel’s 10th generation processors, Wi-Fi 6, and others. Therefore, growing demand laptops among enterprises and home users are expected to drive the market growth during pandemic situation.
In terms of revenue, North America and Europe held more than 50.0% market share together, in 2017. The laptops market in these regions is saturated; thereby this is expected to result in slow growth rate over the forecast period in terms of revenue. Factors such as longer replacement cycles and lack of technological advancements are expected to hamper the demand for laptops in these regions.
Asia Pacific market is projected to grow at the highest CAGR in terms of revenue during the forecast period. Government support for reducing import duties imposed on spare parts of electronic devices is expected to drive the regional market growth, especially in emerging countries. In addition, governments’ initiatives across emerging countries such as Make in India, Digital India, and Made in China 2025 coupled with increasing investment in e-commerce and retail sectors are expected to propel the demand for laptops in this region
Further Middle East & Africa and Latin America markets are expected to witness substantial growth over the forecast period. This growth is attributed to growing awareness regarding the benefits of laptops coupled with rising spending on consumer electronics devices and developing internet infrastructures.
The market is highly competitive in nature due to the presence of various giants such as Dell; ASUSTeK Computer Inc.; HP Development Company, L.P., Acer Inc.; and Apple Inc. These key players are investing in research & development activities to develop technologically advanced laptops at affordable prices. This initiative is expected to help market players to strengthen their footprints in a competitive market.
Further, OEMs are continuously focusing on strategies like partnerships, collaborations, and accusations to offer advanced feature laptops. For instance, in 2019, McAfee announced collaboration with Dell to offer pre-installed security software on laptops and PCs across the globe.
Base year for estimation
Actual estimates/Historical data
2014 - 2016
2018 - 2025
Revenue in USD Billion; Volume in Million Units, and CAGR from 2018 to 2025
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
U.S., Canada, U.K., Germany, France, Italy, Spain, Denmark, China, India, Japan, Malaysia, Australia, South Korea, Brazil, Mexico, South Africa, U.A.E.
Volume forecast, company share, competitive landscape, growth factors, and trends
15% free customization scope (equivalent to 5 analyst working days)
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This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Million Insights has segmented the global laptop market report based on type, screen size, price, end use and region:
• Type Outlook (Revenue, USD Billion; Volume, Million Units, 2014 - 2025)
• Traditional Laptop
• 2-in-1 Laptop
• Screen Size Outlook (Revenue, USD Billion; Volume, Million Units, 2014 - 2025)
• Up to 10.9"
• 11" to 12.9"
• 13" to 14.9"
• 15.0" to 16.9"
• More than 17"
• Price Outlook (Revenue, USD Billion; Volume, Million Units, 2014 - 2025)
• Up to USD 500
• USD 501 to USD 1000
• USD 1001 to USD1500
• USD 1501 to USD 2000
• Above USD 2001
• End-Use Outlook (Revenue, USD Billion; Volume, Million Units, 2014 - 2025)
• Regional Outlook (Revenue, USD Billion; Volume, Million Units, 2014 - 2025)
• North America
• Asia Pacific
• South Korea
• Latin America
• Middle East & Africa
• South Africa
Research Support Specialist, USA