Table of Contents
Introduction
The Global laptop market size is projected to grow from USD 170.0 billion in 2023 to approximately USD 247.7 billion by 2032, at a compound annual growth rate (CAGR) of 4.4% during the forecast period from 2023 to 2032.
A laptop is a portable personal computer designed for mobile use. Unlike desktop computers, laptops integrate essential components like the keyboard, screen, and battery into a single compact unit, making them highly suitable for both work and personal use on the go. They offer capabilities similar to desktop computers, including processing power, storage, and connectivity, but with the added convenience of portability.
Laptops have evolved to support diverse user needs, ranging from basic computing tasks to high-performance gaming, professional software use, and creative work like graphic design and video editing.
The laptop market has been witnessing steady growth, driven by several key factors. Firstly, the increasing adoption of remote and hybrid work models globally has amplified the need for portable and efficient computing devices. Secondly, the rise in e-learning and online education, particularly post-pandemic, has fueled demand for laptops among students and educators.
The demand for laptops remains robust, supported by the ongoing digital transformation across industries. Enterprises are increasingly investing in laptops as essential tools for their workforce to maintain productivity in various work environments, from offices to remote locations. Moreover, consumers are showing a strong preference for laptops over traditional desktops due to their versatility and convenience.
Notably, demand surges during back-to-school and holiday seasons, indicating that both educational and retail cycles significantly influence purchasing behaviors. The expansion of 5G networks and the proliferation of cloud-based services are further expected to sustain demand, as laptops become even more integral for accessing high-speed internet and cloud applications efficiently.
The laptop market presents numerous opportunities, especially in emerging markets where digital adoption is rapidly accelerating. As these regions invest in infrastructure to support digital economies, there is significant potential for growth in laptop sales, particularly among younger demographics and small businesses seeking affordable yet high-performance devices.
Furthermore, the increasing focus on sustainability and energy efficiency offers opportunities for manufacturers to differentiate themselves by developing eco-friendly products that align with consumer and corporate social responsibility (CSR) values. Innovations in foldable screens, advanced cooling systems, and integration with artificial intelligence (AI) for enhanced user experience also represent future growth avenues. Expanding collaborations with educational institutions and enterprises to provide tailored laptop solutions can further open up lucrative market segments.
Key Takeaways
- The global laptop market is forecasted to grow at a CAGR of 4.4% from 2023 to 2032, reaching USD 247.7 billion.
- Traditional laptops lead with the highest growth rate, contributing to over 65% of the market due to strong demand in commercial and gaming sectors.
- Laptops with screen sizes of 15.0″ to 16.9″ dominate the segment, holding approximately 35% of the market share, driven by their use in business and gaming.
- Business laptops account for 40% of the market, propelled by enterprise demand for devices supporting productivity tasks.
- North America holds the largest market share at 30%, while Asia-Pacific is expected to grow at the highest CAGR of 5.6% due to supportive government policies and investments.
- Asia-Pacific is the fastest-growing region, expected to see a revenue increase of 5.6% CAGR during the forecast period, supported by policies and investments.
- Growth Opportunity: The global education sector’s shift to digital learning will increase laptop demand, with 20% of growth attributed to this sector alone.
- Restraining Factor: Smartphone and tablet adoption affects the market, with their usage increasing by 15%, impacting traditional laptop sales.
laptop Statistics
- In 2023, 188.1 million laptops are expected to be sold globally (3% increase from 2022).
- China leads the market with $23.2 billion in revenue.
- The U.S. follows with $21.2 billion in laptop revenue in 2023.
- Average revenue per person in the laptop market is around $16.61.
- Lenovo, Dell, and HP have a combined 60% market share.
- Laptops priced between $501 and $1000 are the top-selling segment, growing at 2.9% CAGR.
- Laptops with screen sizes of 15″ to 16.9″ are the most popular for work and gaming.
- In 2024, global sales are projected to reach 189.9 million units (1% growth).
- 23.7% of consumers are expected to own gaming laptops in 2023.
- Top brands: Apple (17% share), Lenovo (15% share), and HP (12% share).
- 67% of the global population used laptops in early 2022.
- North America leads the market with a 42% CAGR from 2023 to 2028.
- In 2023, there are 272.4 million laptops in circulation.
- Around 80% of users have antivirus software installed.
- In early 2023, global laptop sales totaled $127.6 billion with 114.8 million units shipped.
- Traditional laptops remain dominant, but demand for 2-in-1 devices is rising.
- In 2023, global laptop imports reached $5.92 billion at $122.38 per unit.
- China is the largest exporter, with 95% of total global imports.
- China’s laptop revenue in 2023 is $23.25 billion, growing at 3.28% CAGR until 2028.
- The U.S. market revenue is $21.2 billion, growing at 1.45% CAGR until 2028.
- Japan’s laptop market is $7.8 billion, shrinking at -1.88% CAGR until 2028.
- India’s laptop market is $6 billion, with a 7% CAGR growth rate until 2028.
- Turkey’s market revenue is $3.8 billion, growing at 4.4% CAGR until 2028.
- Young adults (18-34) are more likely to own laptops than older adults.
- In Australia, 34% of adults use laptops multiple times a day for internet access.
- In the U.S., 86% of men aged 65+ use laptops, compared to 76% of women.
- By 2024, 5.7 million Australian households will own computers, reaching 6.04 million by 2029.
- 95.6% of internet users consume media on laptops or desktops.
- Remote work has led to more laptop purchases; 37% of Australians worked from home in August 2023.
- 60% of laptop sales are for personal use; 40% are for business or education.
- By 2024, 85% of new laptops will include 1080p or higher resolution webcams.
Emerging Trends
- AI-Enhanced Laptops: Laptops are increasingly integrating artificial intelligence (AI) capabilities for improved performance and user experience. AI chips are now optimizing battery usage, predicting user behavior, and enhancing security features such as facial recognition.
- Foldable and Flexible Screens: Foldable laptop technology is gaining momentum, providing versatile devices that can transition between laptop and tablet modes. This trend supports multitasking and creative work, making these devices highly adaptable for both professionals and casual users.
- Sustainability and Eco-Friendly Materials: Brands are focusing on using recycled materials and energy-efficient components to create more eco-friendly laptops. This trend caters to environmentally conscious consumers and is aligned with broader sustainability goals within the tech industry.
- Ultra-Light and Portable Designs: The market is seeing a shift toward thinner and lighter laptops made from magnesium and other lightweight materials. These designs cater to professionals and students who need powerful yet portable devices.
- Gaming and Creator Laptops: High-performance laptops designed for gaming and content creation are on the rise. These devices are equipped with advanced GPUs and high-refresh-rate screens, appealing to users who need superior graphics and processing power
Top Use Cases For Laptops
- Remote Work and Business Productivity: Business laptops are critical for remote work, offering features such as video conferencing capabilities, high-performance processors, and robust security measures. Laptops in this category typically enhance efficiency and productivity in various professional environments.
- Gaming and Esports: With the increasing popularity of gaming, laptops equipped with powerful GPUs and high-refresh-rate displays are widely used in gaming and esports. The gaming laptop market is expected to grow, as these devices also serve for streaming and content creation.
- Educational Applications: Laptops are essential tools in education, providing access to online resources, virtual classes, and collaboration tools. With approximately 50% of students worldwide relying on laptops for learning, they are crucial for academic success.
- Content Creation and Multimedia: Laptops designed for creators offer high-resolution displays, dedicated graphics cards, and optimized software for photo, video, and 3D editing. These devices are increasingly sought by content creators and digital artists.
- Personal and Entertainment Use: Laptops continue to be popular for everyday personal use, such as streaming, browsing, and social media. Laptops in the mid-range category (priced $500-$1000) offer suitable features for casual users and light gaming, making them versatile tools for entertainment.
Major Challenges
- Supply Chain Disruptions: The laptop industry continues to face supply chain challenges, especially with semiconductors and other essential components. The global chip shortage has impacted production timelines, causing delays and price hikes. As a result, laptop manufacturers have experienced up to 20% drops in unit shipments in 2023, affecting market availability and consumer prices.
- Rising Competition from Tablets and Smartphones: Tablets and high-end smartphones with advanced functionalities are becoming strong substitutes for traditional laptops. These devices offer portability, long battery life, and adequate computing power for many users, reducing the demand for entry-level and mid-range laptops. This trend is particularly notable in developing regions, where affordable tablets and smartphones dominate.
- Market Saturation in Developed Regions: The North American and European markets, which account for roughly 50% of global laptop sales, are experiencing saturation. These regions have seen declining sales due to minimal innovation in new models compared to previous years, leading to slower replacement cycles and reduced consumer enthusiasm.
- Price Sensitivity Among Consumers: The demand for laptops is highly elastic, with consumers often opting for cheaper models or delaying purchases when prices rise. High inflation and economic uncertainty in key markets like the US and Europe have intensified this trend, pushing brands to compete on price rather than features.
- Sustainability Concerns: As sustainability becomes a crucial factor for consumers and regulators, laptop manufacturers face challenges in reducing their carbon footprints and adopting eco-friendly practices. The transition to recyclable materials and energy-efficient production increases costs, impacting profitability, particularly for low-margin products.
Top Opportunities
- Sustainable and Eco-Friendly Models: Growing consumer preference for environmentally conscious products offers opportunities for brands to innovate with recyclable materials and energy-efficient designs.
- Gaming Laptops Surge: The expanding gaming industry is driving demand for high-performance laptops, encouraging manufacturers to enhance specs and optimize cooling systems.
- Remote Work Solutions: As hybrid work remains prominent, there is a rising need for lightweight, powerful laptops with features like better webcams and battery life to support professional productivity.
- Affordable High-Performance Options: Increasing demand in emerging markets creates opportunities for brands to provide powerful yet affordable laptops tailored to budget-conscious consumers.
- AI-Integrated Devices: Incorporating AI for personalized user experiences, such as smart battery management and predictive maintenance, represents a growing trend for differentiation in the competitive landscape.
Recent Developments
- In February 27, 2023, Lenovo launched its latest PC and Chromebook solutions at MWC™ 2023, focusing on hybrid work needs. The updated ThinkPad series, including the Z13 and Z16 models, emphasizes system performance, sustainability, and user experience, with the Z13 featuring a bio-based Flax Fiber cover. Other updates include the redesigned ThinkPad X13 and X13 Yoga, along with refreshed T and L series models tailored for diverse business requirements.
- In April 10, 2024 , Acer unveiled the Nitro 14 and Nitro 16 gaming laptops in Taipei, featuring AMD Ryzen™ 8040 Series processors and NVIDIA® GeForce RTX™ 4060 GPUs with DLSS 3.5 technology. These laptops provide immersive gaming experiences on NVIDIA G-SYNC® compatible screens, offering up to WQXGA resolution.
- In 2024 , Apple introduced the new MacBook Air with the M3 chip, delivering up to 60% faster performance than the M1 version. The 13- and 15-inch models feature a thin design, up to 18 hours of battery life, and support for dual external displays. Available in four colors, these models include MagSafe charging, advanced AI capabilities, and top-tier camera and audio quality.
- In February 22, 2024, Lenovo reported Q3 results with a 3% year-on-year revenue increase to US$15.7 billion and net income of US$357 million. Non-PC businesses contributed 42% of total revenue, showcasing Lenovo’s successful diversification strategy.
Conclusion
The laptop market is poised for continued growth, driven by evolving consumer needs and technological advancements. As remote work, gaming, and digital lifestyles become more prevalent, demand for high-performance, versatile, and portable devices is expected to rise. Companies have significant opportunities to differentiate through innovation in sustainability, affordability, and AI integration, appealing to both eco-conscious and tech-savvy users. Furthermore, emerging markets present substantial growth potential, as brands can capture new customer segments with budget-friendly models. Overall, the industry’s future will hinge on how well manufacturers adapt to these dynamic consumer preferences and technological trends.
Discuss your needs with our analyst
Please share your requirements with more details so our analyst can check if they can solve your problem(s)
