Laptop Market - By Product Type, By Screen Size, By Price Range, By End Use, By Distribution Channel, Forecast 2024 - 2032

Laptop Market Size

The global laptop market size was valued at USD 105.2 billion in 2023 and is estimated to grow at a CAGR of 5.3% from 2024 to 2032 driven by growing expenditure by consumers on consumer electronics.
 

The COVID-19 pandemic expedited the transition to remote work and online education. Consequently, numerous organizations and educational institutions are now implementing hybrid models, which has led to an increased demand for laptops optimized for video conferencing and e-learning. The proliferation of cloud-based collaboration platforms necessitates devices capable of running multiple applications concurrently, thereby driving the sales of high-performance laptops.
 

Additionally, advancements in processors, memory, and storage solutions, such as SSDs, have significantly enhanced laptop performance. The introduction of more powerful CPUs and GPUs is meeting the needs of gaming, professional design, and data-intensive tasks. Advancements in processors, graphics cards, and memory are enhancing laptops' efficiency in handling demanding applications, such as gaming and content creation.
 

Concurrently, improvements in battery technology are extending device longevity, making laptops more attractive to mobile users. The trend towards slimmer models, including ultra books and 2-in-1 devices, enhances portability and convenience, appealing to a broader consumer base. The rising popularity of gaming is driving demand for high-performance gaming laptops, fostering innovation in design and hardware. Consumers now seek devices that combine functionality with aesthetic appeal, featuring customizable options that reflect individual preferences.
 

The laptop market is intensely competitive, with numerous brands offering similar products. This fierce competition often results in price wars, eroding profit margins. Companies must continuously innovate to differentiate themselves. Falling behind in technological advancements can lead to a loss of market share. Additionally, ongoing shortages of semiconductors and other critical components can cause production delays and increase costs. Disruptions in shipping and distribution, often exacerbated by global events such as pandemics and geopolitical tensions, can impact inventory levels and product availability. The rapid pace of technological advancement can quickly render laptops obsolete. Manufacturers must invest heavily in R&D to maintain product relevance. As technology evolves, consumer expectations also rise, posing a significant challenge for manufacturers to meet these expectations.
 

Laptop Market Trends

The deployment of 5G technology offers faster and more reliable internet access, significantly enhancing the appeal of laptops for mobile users requiring constant connectivity. The introduction of Wi-Fi 6 and 6E standards delivers superior performance, particularly in high-density environments, further increasing the attractiveness of modern laptops. The global market is driven by a combination of technological advancements, economic factors, and consumer preferences. Understanding these key market drivers enables manufacturers, retailers, and stakeholders to make informed decisions and adapt to evolving market conditions.
 

Laptop Market Analysis

Based on product type, the market is segmented into traditional and 2-in-1 laptops. Traditional laptops dominated the market in 2023, generating a revenue exceeding USD 59 billion, which is expected to surpass USD 89.9 billion by 2032. Traditional laptops often offer more powerful hardware configurations compared to many 2-in-1s, making them suitable for demanding tasks like gaming, video editing, and software development.
 

However, the demand for 2-in-1 laptops is expected to grow at faster rate during the forecast period. With the rise of remote work, professionals seek devices that can adapt to various work environments. 2-in-1 laptops often come with features suited for video conferencing and multitasking. Recent innovations in materials and design have elevated stick performance, making them lighter, offering better grip, and enhancing ball durability. 
 

Based on the end-use of the laptop market is divided into personal, commercial and industrial. The commercial segment is further classified into corporate, gaming, educational institutes, BFSI and others. In 2023, commercial segment held the dominant market of USD 53 billion and is expected to reach USD 85.6 billion by 2032.
 

The gaming industry has seen explosive growth, with more people engaging in gaming as a primary form of entertainment. This has led to heightened demand for high-performance gaming laptops. Additionally, the rise of remote work has prompted companies to equip their employees with laptops that can handle both basic and advanced tasks. This includes the need for devices capable of supporting video conferencing, collaborative software, and extensive data processing.
 

Companies are investing in training programs that require laptops capable of running various educational platforms. This has spurred demand for reliable devices that support online learning and development initiatives.
 

North America: North America held a laptop market of around 37.4% in 2023 and is expected to grow at a CAGR of 6.4% during the forecasted timeframe. The region's high average income enables consumers to invest in premium technology, driving demand for both personal and business laptops. North American consumers and businesses are typically early adopters of new technologies, fueling demand for the latest laptop innovations, such as advanced processing power and features. The integration of laptops into educational curricula by many schools and universities has created a substantial market for student-oriented devices. The region's diverse consumer needs, ranging from gaming and creative professions to business and education, stimulate demand across various laptop categories, including gaming laptops and 2-in-1 devices.
 

Europe: Europe laptop market accounted for a CAGR of around 5.5% in the forecasted timeframe. The COVID-19 pandemic has accelerated the adoption of remote work across Europe, significantly increasing the demand for laptops optimized for home office use. As organizations transition to hybrid work models, there is a sustained need for portable devices that deliver both high performance and flexibility for home and office environments. European consumers are increasingly seeking laptops with the latest processors and advanced graphics capabilities to fulfill both professional and personal requirements, driving the demand for cutting-edge technology.
 

The rising interest in artificial intelligence and machine learning applications further fuels the need for laptops capable of supporting these technologies. Additionally, numerous European governments are investing in educational technology to enhance digital learning, particularly in K-12 education, resulting in increased demand for laptops among students and educational institutions.
 

Laptop Market Share

The market is moderately consolidated, with several regional and local companies operating on a global scale. Together these companies hold a market share of 45-50% of the total market. These companies are investing heavily in research and development to create innovative and technologically advanced products. They are also focusing on expanding their distribution networks, both online and offline, to reach a wider customer base.
 

Laptop Market Companies

Major players operating in the laptop industry are:

• Acer
• Apple Inc.
• ASUSTeK Computer Inc. 
• Dell Inc.
• Haier Inc.
• HP Development Company
• Huawei Device Co., Ltd. 
• Lenovo
• LG Electronics
• Microsoft 
• Micro-Star INT'L CO., LTD.
• Razer Inc.
• SAMSUNG 
• SONY ELECTRONICS INC.
• Toshiba Corporation 
   

Laptop Industry News

• In 2024, HP has launched New OMEN and Spectre Laptops at CES 2024. The OMEN Transcend 14 is the first ultra-compact 14-inch configuration from HP’s dedicated gaming laptop lines, measuring only 0.7 inches thick. It also weighs in at only 3.6 lbs., earning it the crown for the world’s lightest 14-inch gaming laptop. It’s the OMEN series’ smallest, thinnest, and lightest laptop model available.
   
• In May 2024, Dell has expanded broad portfolio of AI PCs and workstations with the introduction of the most Copilot+ PCs powered by Snapdragon® X Elite and Snapdragon® X Plus processors.¹ This brand-new class of devices transforms your AI PC experience with extraordinary performance and battery life, upleveled productivity and powerful security.
   

The laptop market research report includes in-depth coverage of the industry, with estimates & forecasts in terms of revenue (USD billion), (Million Units) from 2021 to 2032, for the following segments:

Click here to Buy Section of this Report

Market, By Product Type

• Traditional laptops
• 2-in-1 laptops

Market, By Screen Size

• Up to 10.9 inch
• 11 to 14.9 inch
• 15 to 16.9 inch
• Above 17 inches

Market, By Price Range

• Economy (Up to US$ 500)
• Mid-range (US$ 500 - US$ 1,000)
• High (Above US$ 1,000)

Market, By End Use

• Personal
• Commercial 
  • Corporate
  • Gaming
  • Educational institutes
  • BFSI
  • Others (Retail stores, creative studios, etc.)
• Industrial

Market, By Distribution Channel

• Online 
  • E-commerce websites
  • Company websites
• Offline  
  • Multi-brand stores
  • Departmental stores
  • Specialty stores
  • Other retail stores

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Malaysia
  • Indonesia 
• Latin America
  • Brazil
  • Mexico 
• MEA
  • UAE
  • Saudi Arabia
  • South Africa