The global laptop market revenue is anticipated to reach $108.91 billion by 2025, according to a study by Grand View Research. The research group says this growth will progress at a compound annual growth rate [CAGR] of 0.4% during the forecast period.
Increasing urbanization and growing spending capacities of consumers belonging to middle and upper-middle classes, coupled with evolving lifestyles, are projected to help the global market gain significant momentum over the coming years, according to Grand View Research. Highlights from the report include:
The 2-in-1 laptop segment — a laptop/tablet combo — is anticipated to exhibit the highest CAGR over the forecast period. This can be attributed to growing demand for lightweight and technologically-advanced laptops.
The 13″ to 14.9″ screen size segment is projected to expand at a CAGR exceeding 0.5% in terms of value over the same period as these laptops are ideal for diverse applications such as personal, gaming, and business.
The $501-$1,000 segment accounted for a significant market share as these laptops offer long battery life, wide display screen, robust processors, and attractive design at relatively affordable price.
Spiraling demand for online and augmented/virtual reality gaming among youths and professional gamers is bolstering market growth for gaming laptops. What’s more, an upsurge in demand for technologically advanced products, particularly in developing countries due to changing needs and consumption patterns, is poised to bolster market growth over the forecast period, according to Grand View Research.
The research group adds the burgeoning popularity of affordable wireless connectivity and mobility solutions among consumers is likely to spur the growth of the market. Besides this, homogeneous standardization of laptops and advancements in technology are helping in increasing processing power, reducing power consumption, and cutting down costs. This, in turn, is working in favor of the market.
However, increasing sales of smartphones are estimated to be the key restraint for the growth of the market, says Grand View Research. Factors such as long-lasting battery life, low price, high-speed processors, and large screens, apart from other value-added features such as artificial intelligence, augmented reality (AR) apps, sensors, and enhanced hardware, are leading to wider adoption of smartphones, thereby hampering the sales of laptops.