Global Notebook Market is projected to experience substantial growth over the forecast period owing to the increasing demand for laptops from students as well as professionals across the globe. Notebook computers provide various advantages such as mobility, lightweight, longer battery life and multiple functionalities in one device. With the rising trend of digitalization and Bring Your Own Device (BYOD) policy in various organizations, the demand for notebooks is growing steadily. Moreover, rising internet penetration and availability of low-cost laptops is expected to boost the adoption of notebooks among students and young professionals.
The Global Notebook Market is estimated to be valued at US$ 168.22 Bn in 2024 and is expected to exhibit a CAGR of 16% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Global Notebook Market are Zeotis Inc, Elanco Animal Health Incorporated, Virbac, Kindred Biosciences, Inc., Nippon Zenyaku Kogyo Co., Ltd., Bioiberica S.A.U., Dechra Pharmaceuticals Plc, and Toray Industries, Inc. The key players are focusing on new product launches and mergers & acquisitions to expand their global presence. For instance, in 2022, Zeotis Inc launched a new lightweight 2-in-1 notebook to target students and professionals requiring portability.
The growing demand from educational institutions and offices for digital classrooms and work-from-anywhere culture is expected to drive the global notebook market during the forecast period. According to a recent survey, over 80% of the students in developed nations own a laptop for educational and personal use. This growing dependence of students and employees on digital devices is propelling the sales of notebooks worldwide.
The global notebook market is also witnessing strong growth in the Asia Pacific region led by countries like China, India and Southeast Asia. Rapid urbanization, rising disposable incomes and growing internet & smartphone penetration are some of the key factors fueling the adoption of notebooks in Asia Pacific. Leading vendors are actively expanding their manufacturing facilities as well as retail footprint in high potential countries to tap into new customers and strengthen their market position.
Market drivers
The key driver boosting the Global Notebook Market Size growth is increasing preference of individuals for portable personal computing devices. Notebooks offer mobility and flexibility of use which has made them a popular choice among students, working professionals as well as home users. Further, constant innovation in terms of sleek & lightweight designs, longer battery lives and value-added features is attracting more customers towards notebooks. The COVID-19 pandemic has also provided a strong impetus to the demand for notebooks as work/learn from home became the new norm.
The current geopolitical tensions between nations are expected to impact the growth of the global notebook market in the coming years. The ongoing Russia-Ukraine conflict and Western sanctions on Russia have significantly disrupted global supply chains. Russia is a key supplier of important raw materials for notebook manufacturing like palladium, nickel and neon gas used in LEDs. Prolonged shortage of these materials due to sanctions can reduce notebook production volumes across major manufacturing hubs in Asia. Rising raw material costs will also put upward pressure on notebook prices, potentially dampening consumer demand. Furthermore, international trade barriers and protectionist policies adopted by many countries in the current nationalistic environment pose challenges. Notebook brands will need to localize more of their manufacturing and diversify supplier networks globally to mitigate political risks in key sourcing markets. Transitioning to more sustainable and locally sourced materials can help mitigate volatility from geopolitical instability in the long run. Collaborating with regional partners for niche components and establishing alternate supply chains will be essential strategies for future growth.
Currently, North America accounts for the largest share of the global notebook market in terms of value. This can be attributed to the high demand for premium notebooks from business and government sectors in countries like the US. Within North America, the US dominates notebook sales led by the presence of major OEMs and a large consumer base. The Asia Pacific region excluding Japan is poised to be the fastest growing market during the forecast period. This is driven by the rapidly expanding education, gaming and cloud computing sectors across emerging economies of China, India and Southeast Asia where notebooks are increasingly replacing traditional PCs and smartphones. Countries like India offer a huge untapped potential and opportune partnerships with local OEMs provide an opportunity for further penetration.
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