A notebook, also known as a laptop, is a small, portable personal computer with a clamshell form factor, typically having a thin LCD or LED computer screen mounted on the inside of the upper lid of the clamshell and an alphanumeric keyboard on the inside of the lower lid. Notebooks can connect to external devices like a mouse, additional displays and docking stations. They are easily portable and commonly used for general computing, web browsing, email, social media, entertainment, gaming and office productivity tasks like documents, spreadsheets and presentations.
The global notebook market is estimated to be valued at US$ 146.02 Bn in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Notebook is Estimated to Witness High Growth Owing to Increasing Adoption for Work From Home
One of the key drivers for the growth of the global notebook market is the increasing adoption of notebooks for work from home settings during the ongoing COVID-19 pandemic. The pandemic has led to a massive shift to the work from home model by organizations across industries to promote social distancing. This has drastically increased the demand for portable and affordable computing devices like notebooks that enable employees to access office platforms and work productively from remote locations. Notebooks perfectly suit the needs of remote working as they offer portability, connectivity and performance required for tasks like video conferencing, document editing and data analysis. The increasing popularity of work from home is expected to continue post pandemic as well, thereby driving the notebook market over the forecast period. Additionally, the rising demand for affordable computing especially in developing regions is also fueling the growth of the global notebook market.
SWOT Analysis
Strength: Global notebook market benefits from the increasing demand for thin and light notebooks from students and professionals that need mobility. Notebooks offer portability and convenience of use compared to desktops. Some notebooks come with long battery life and high storage capacity fulfilling consumer requirements.
Weakness: Highly competitive global notebook market poses pricing pressures on manufacturers. Frequent upgrades in technology and specifications trigger the need to replace notebooks more often, reducing their resale value. Repair and maintenance of notebooks involve additional costs.
Opportunity: Emerging economies offer strong opportunities due to rising disposable incomes and increasing acceptance of digital technologies in education and businesses. Convertible notebooks that work as laptop as well as tablet provide an opportune area of growth. Adoption of 2 in 1 form factors is gaining traction.
Threats: Shift towards portable computing alternatives like tablets and smartphones poses a threat to regular notebooks. Price wars among competitors intensify market pressures. Trade tensions and supply chain disruptions impact production costs and delivery timelines.
Key Takeaways
The Global Notebook Market Size is expected to witness high growth driven by technology advancements and emerging applications. In 2023, the market size is projected to reach US$ 146.02 billion and register a CAGR of 4.3% during the forecast period of 2023 to 2030.
Regional analysis: North America dominates currently with a market share of over 35% led by well-developed IT infrastructure and presence of leading global players. Asia Pacific is identified as the fastest growing regional market for notebooks with China and India emerging as major countries driving higher adoption.
Key players: Major players like HP Inc., Dell Technologies Inc., Lenovo Group Limited and Acer Inc. collectively account for over 65% of the global market. However, Apple Inc. has established a strong consumer base for its Mac notebooks. Key players are investing in R&D to develop innovative features and competitive pricing to strengthen their market position.
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