Laptop Market Size Worth $108.91 Billion by 2025

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The global laptop market size is anticipated to reach $108.91 billion by 2025, according to a study by Grand View Research, Inc., progressing at a 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. Furthermore, 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.

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.

Improving internet infrastructure across the globe is also positively influencing the growth of the market. Factors such as adaptability of mature audiences to dynamic technological environments and favorable adoption of evolving technologies are also expected to trigger the demand for laptops over the forecast period. Moreover, government initiatives such as Made in China 2025, Digital India, and Make in India are also offering immense growth potential to manufacturers operating in the laptop market.

However, increasing sales of smartphones are estimated to be the key restraint for the growth of the market. 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.

Further key findings from the study suggest:

• The 2-in-1 laptop segment 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
• Asia Pacific is poised to register the highest CAGR owing to increasing government initiatives to manufacture low-cost but technologically-proficient laptops
• Some of the prominent industry participants include Dell; HP Development Company, L.P.; ASUSTeK Computer Inc.; Apple Inc.; Acer Inc.; and Lenovo. OEMs are substantially investing in R&D to withstand competition and sustain their dominance in the industry.