According to new report of Million Insights, the global laptop market size is projected to account for USD 108.91 billion by the end of the forecasted year and is expected to grow with 0.4% CAGR over the forecast period, from 2018 to 2025. Increasing spending on consumer electronics devices coupled with evolving lifestyles is a key factor driving the market growth during the forecast period. In addition, growing demand for technologically advanced laptops in emerging countries owing to rapidly changing needs is expected to further drive the market growth in the next few years.
Factors such as growing adoption of wireless connectivity as well as mobility solutions with affordable prices among consumers are expected to surge the demand for laptops. Moreover, technologically advancement and homogeneous standardization of laptops are reducing power consumption, increasing processing power, and also reducing cost, thereby expected to drive the market growth during the forecast period.
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Development of internet infrastructure worldwide due to government support is expected to drive the demand for laptops among consumers. For instance, government initiatives in several emerging countries like Make in India, Digital India and Made in China 2025 are opening new market growth opportunities for industry players.
However, increase in the number of smartphone users across the globe is expected to hamper the laptop market growth to some extent. Benefits such as emergence of advanced features like augmented reality (AR) apps, artificial intelligence, sensors, enhanced hardware, large screens, and high-speed processors at affordable cost are projected to restraint market growth.
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Further key findings from the report suggest:
• The 2-in-1 laptop is projected to emerge as fastest growing segment over the forecast period. This growth is attributed to the increasing demand for technologically advanced and lightweight laptops.
• Among screen sizes, the 2-in-1 laptop segment is anticipated to grow with a CAGR of 0.5% during the forecast period, as these laptops have multiple applications including personal, business and gaming.
• Price wise, the USD 501-USD 1,000 segment held significant market share, in 2017 on accounts of its several benefits such as attractive designs, long battery life, wide display screens, and robust processors among others.
• The demand for gaming laptops is increasing among professional game players and youths due to growing trend of augmented/virtual reality gaming.
• Asia Pacific is projected to grow with the fastest CAGR during the forecast period due to development of technologically advanced laptops with low cost.
• HP Development Company, Dell; L.P.; ASUSTeK Computer Inc.; Apple Inc.; Lenovo; and Acer Inc. are key players operating in this industry. OEMS are investing in R&D activities to strengthen their footprints in this competitive market.
Million Insights has segmented the global laptop market on the basis of type, screen size, price, end use and region:
Laptop Type Outlook (Revenue, USD Billion; Volume, Million Units, 2014 – 2025)
• Traditional Laptop
• 2-in-1 Laptop
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″
Laptop 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
Laptop End-Use Outlook (Revenue, USD Billion; Volume, Million Units, 2014 – 2025)
Laptop Regional Outlook (Revenue, USD Billion; Volume, Million Units, 2014 – 2025)
• North America
• Asia Pacific
• South Korea
• Latin America
• Middle East & Africa
• South Africa
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