LONDON--(BUSINESS WIRE)--The laptop market is expected to grow by USD 7.52 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
The increasing demand for 2-in-1 laptops is expected to drive the growth of the market during the forecast period. 2-in-1 laptops are portable computers that have features of both laptops and tablets. These laptops incorporate an in-built physical keyboard as well as a touchscreen. The keyboard can be folded into a tent mode or rotated 360°. In the last five years, the demand for 2-in-1 laptops has significantly increased due to the incorporation of numerous high-functionality components and in-built features such as 4-16 GB RAM, front and rear cameras, fingerprint readers, and 256 GB to 1 TB data storage. For instance, in January 2020, Samsung Electronics expanded the line of Galaxy computing devices with the launch of Galaxy Book Flex α (alpha), a new variant of Galaxy Book Flex. The 2-in-1 laptop is equipped with a 17.5-hour battery life and a 10th generation Intel Core processor.
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As per Technavio, the increasing adoption of gaming laptops will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Laptop Market: Increasing Adoption of Gaming Laptops
Though gaming laptops are similar to traditional laptops, they have higher computing power and are specifically designed for video games. Many gamers prefer gaming laptops to desktops due to features such as advanced specifications and portability. The increasing penetration of the Internet and the popularity of multi-player video games have led to the development and commercialization of gaming, which, in turn, is fueling the demand for gaming laptops. Though mobile electronic devices such as smartphones and tablets are also used for gaming, laptops provide a superior gaming experience. Thus, the increasing adoption of gaming laptops is expected to impact the global laptop market during the forecast period positively.
"The growing number of strategic partnerships and the introduction of 5G connectivity will have a positive impact on the growth of the laptop market value during the forecast period," says a senior analyst at Technavio.
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Laptop Market: Segmentation Analysis
This market research report segments the laptop market by type (traditional laptop and 2-in-1 laptop), and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the laptop market in 2019, followed by Europe, APAC, South America, and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the growth of the corporate sector and the gaming industry, presence of critical vendors in fast-growing economies, and the increasing adoption of laptops in educational institutions.
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Some of the key topics covered in the report include:
- Traditional laptop
- 2-in-1 laptop
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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