Originally published by Technavio
The forecast for the laptop market between 2024 and 2028 anticipates a substantial growth of USD 22.22 billion, with a CAGR of 3.2%, driven by factors such as corporate sector expansion, increased adoption in educational institutions, and rising demand for 2-in-1 laptops. The market is segmented into traditional and 2-in-1 laptops, catering to various end-users including business, personal, and gaming sectors.
Regional analysis spans North America, Europe, APAC, South America, and the Middle East and Africa, focusing on key drivers, trends, and challenges. Additionally, the report includes historical market data from 2018-2022 to enrich insights.
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The increasing integration of laptops in educational institutions is a key driver of market growth, facilitating notetaking, collaboration, and interactive learning. Similarly, the growing popularity of video games is fueling the demand for gaming laptops, driven by higher computing power and portability. However, the market faces challenges from the increasing capabilities of smartphones and tablets, hindering traditional laptop sales.
Segmentation by end-user highlights significant growth in the business segment, driven by enhanced productivity and mobility in work environments. Additionally, the traditional laptop segment is expected to grow due to its processing power and battery life advantages over 2-in-1 laptops.
Regionally, North America is projected to contribute significantly to global market growth, fueled by key vendor presence, the gaming industry’s expansion, and the adoption of 5G internet services. Major companies like Acer Inc., Alphabet Inc., and Apple Inc. are implementing various strategies to enhance their market presence, including strategic alliances, partnerships, and product launches. The report provides detailed analyses of competitive landscapes, helping clients understand the wider business environment and the strengths and weaknesses of key market players.