The Global Notebook Market Primed To Grow Owing To Growing Adoption Of Digital Devices

 

Global Notebook Market 

The global notebook market caters to the growing need for portable computing devices. Notebooks or laptops are compact portable personal computers which can perform similar functions as a desktop but in a compact size. They offer users mobility and flexibility to work from anywhere with the advantage of larger screens and full-sized keyboards as compared to tablets or smartphones. Notebooks come preloaded with standard productivity software such as word processors, spreadsheets, presentation software and web browsers to perform basic computing tasks.

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 growing demand for portable devices from students and working professionals is a key factor driving the growth of the notebook market. Owing to the COVID-19 pandemic, more people are opting to work from home driving the demand for notebooks for virtual meetings, presentations and documentation tasks. Manufacturers are focusing on technological advancements such as thin and light designs, touchscreens, powerful processors and graphics cards to enhance user experience.

Market Trends

Slim and lightweight notebooks: Manufacturers are focusing on designing ultra-thin and lightweight notebooks under 1 kg to increase portability without compromising on features and performance. 2-in-1 convertible notebooks: Demand for 2-in-1 convertible notebooks is growing rapidly owing to their dual functionality as a laptop as well as a tablet enabled by 360 degree hinges. Increased power and performance: Notebook manufacturers are equipping devices with high performance 8th and 10th generation Intel Core i5 and i7 processors and discrete graphics cards to support gaming, content creation and CAD applications.

Market Opportunities

High-end gaming notebooks: Availability of powerful hardware and thermal designs is driving the demand for high-performance gaming notebooks. Growing interest of gamers in esports is expected to further boost the segment. Low-cost Chromebooks: In education and consumer segment, lower cost Chrome OS powered notebooks are gaining traction fueled by affordability and easy manageability for schools and offices.

Impact of COVID-19 on Global Notebook Market Growth

The COVID-19 pandemic has significantly impacted the growth of the Global Notebook Market Size. During the initial months of the outbreak, factory shutdowns and supply chain disruptions created a shortage of notebook components like processors. This led to a decline in notebook production across major manufacturing countries like China and Taiwan. As lockdowns were imposed globally, the demand for notebooks also reduced sharply as educational institutes and offices shifted to remote working. However, as the pandemic prolonged, the demand for notebooks increased rapidly to support distance learning and work from home needs. Many organizations upgraded their employees with portable notebooks to facilitate continuity of work. The growing digital transformation accelerated by the pandemic helped boost notebook sales in the latter half of 2020 and 2021. However, component shortage and high component prices due to high demand continued to pose challenges for OEMs. Going forward, hybrid working practices adopted by many companies is expected to sustain the demand for notebooks in the long run. However, supply challenges may continue to impact the market growth in the near term if the pandemic persists. Manufacturers will need to focus on efficient supply chain management and optimal inventory levels to minimize production disruptions.

Geographical Regions with Highest Notebook Market Value

North America accounts for the largest share of the global notebook market in terms of value. This can be attributed to high technology adoption and digital transformation across sectors in the US and Canada. Large presence of notebook OEMs and concentration of high-spending enterprises and educational institutions drive the notebook sales. Furthermore, developed network infrastructure and tech-savvy population has resulted in high notebook penetration compared to other regions. With growingBYOD and remote working trends accelerated by COVID-19, the demand for personal and work notebooks remains robust in North America.

Fastest Growing Region for Global Notebook Market

Asia Pacific is expected to witness the fastest growth in the global notebook market during the forecast period. This can be attributed to growing economies, rapid urbanization, expansion of internet infrastructure and increasing investments by global notebook brands in several emerging countries. The region is home to major manufacturing bases and a large young student population that is driving the demand. Furthermore, large-scale digitalization of education and government initiatives to enhance IT infrastructure in developing markets like India and Indonesia are favoring the notebook market growth. Increasing disposable income and workforce will continue to boost the adoption of notebooks across small businesses, freelancers and individuals in Asia Pacific region in the coming years.

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