The laptop market was one of the biggest markets in the economy and with Covid-19 keeping us working, or watching movies from home, it just got bigger.
But will it continue to grow this rapidly even in 2030? Well, that’s exactly what the Research And Markets report is trying to find out.
In case you didn’t know, the laptop market is expected to go from $106.24 billion in 2020 to a whopping $115.88 billion in 2021. This is an amazing annual growth rate (CAGR) of 9.1%.
That’s not all.
By 2025, this is further expected to grow to $149.02 billion. This is a CAGR of 6.5%.
So what is bringing about this sudden growth?
This is mainly because of the changes being implemented by the various brands due to Covid-19 that led to a lot of restrictions like social distancing, work from home culture, and lockdowns.
As you might already know, the market is dominated by brands like HP, Dell, AsusTek Computer Inc., Apple Inc., Acer Inc., Lenovo Group Ltd., Microsoft Corporation., Micro-Star International Co. Ltd., Samsung Electronics Co. Ltd., and Huawei Investment & Holding Co. Ltd.
The main goal of each of these brands to continue to develop new technologies that make our lives easier by delivering laptops that are quick, portable, durable, and have long battery life.
For example, at the CES 2020, Lenovo unveiled its Flex 5G laptop which is the first laptop to support 5G technology.
Furthermore, it is equipped with a 8cx 5 G Snapdragon chipset from Qualcomm. Supporting this are an 8GB of RAM and 256GB SSD . This means you get both ample space for all your files and a speed boost.
The laptop would run on Windows 10 Pro which is exactly what you want in a laptop for work from home or office use and it supports various networking features standard Windows 10 wouldn’t.
While the growth in the next 4-5 years seems pretty good, the report suggests a slow down later. This is mainly because the demand for smartphones and tablets continues to rise.
Smartphones are rapidly getting better and better and some can function just as well as a laptop. You can take official videos calls, work on docs, check emails, etc. via your mobile.
What do you think, will smartphones soon takeover laptops? Do you prefer to use your smartphone over laptop? Do let us know about it in the comments section below.