Source: Trusted Reviews
According to Statista, laptop market revenue will reach US$124 billion in 2022. Going by global market segments, China is generating more revenue at US$23 billion, followed by US and India.
By 2026, the shipment of laptop volume will reach over 190 million pieces, indicating a 1.75% Cumulative Annual Growth Rate (CAGR). In 2023, the volume will grow by 1%, a slight slump that will pick pace in the following years if current economic conditions remain the same.
But, it is essential to note that pandemic lockdown partly influenced an increase in laptop demand as the need to work and study from home became the norm. As a result, laptop volumes jumped from 164 million pieces (pcs) in 2019 to 185 million in 2021.
There is a volume drop in 2022 to 182 million pcs due to pandemic-induced recession. But, market conditions and demands across global markets vary. Besides, the laptop market has various segments, from traditional to hybrid and gaming to business, that performs differently.
Not to mention the impact of expanding the refurbished laptop market. You’ll need qualified and experienced market research companies to get a nuanced outlook on your niche market.
This blog will offer a complete picture of the laptop market and its trends in 2022. It covers:
- A brief history of the laptop market
- Traditional vs. hybrid laptop trends in 2022
- Laptop shipment volumes and revenues
- Market Outlook for 2022
Let’s dive in!!
A Brief History of the Laptop Market
The significant advances in technology in the 1980s gave birth to laptops. Laptops are convenient portable computers that allow you to work on the go. Besides recharging it, they have a power adapter that can act as a battery.
Modern laptops have sleek designs and exceptional capabilities compared to the old ones in the 1980s and 1990s. Modern laptops are further categorized as either traditional like desktop replacements or hybrid.
Hybrids are 2-in-1, a detachable tablet and keypad that can function together as a laptop. They are extra light and offer more convenience.
Traditional vs. Hybrid Laptop Trends in 2022
Source: Trusted Reviews
Traditional laptops or notebooks boast robust features similar to desktops, including wide screens. But they also have different categories like:
- Desktop Replacement Notebook has a wide screen and high performance.
- Mainstream Notebook has excellent battery life and a sleek, lightweight design. It has more than 13″ and less than 14.9″ in screen size. An example is the Lenovo X1 Carbon which has 14″ with a thin design appearance.
- Standard Portable Notebooks are ultrathin laptops with less than 13″ screen sizes. Most of them have exceptional performance and are lightweight. But, the screen and keyboard are not detachable.
The hybrid laptops are detachable with less than 13” screen size. An example is the Microsoft Surface Go 2 with solid-state storage (SSD) system to enhance the ultra-thin design and performance.
Both categories are enjoying similar growth rates. Some market players include:
- Microsoft Surface
The major trends are happening within laptop features and components. Here are some of the trends happening across traditional and hybrid laptops:
- High-resolution webcams and mics. An example is the new Mac Book Pro (M1 and M1 Pro) with a 1080-pixel camera.
- Better battery life. For example, the Microsoft Surface Go 2 boasts a 10-hour battery life.
- Better performance in display and graphics. For example, the new Ryzen 6000 series offer over 1.3X performance compared to its predecessor, the 5000 series.
As a result, very powerful laptops are being released in 2022 that serve gaming, corporate, and general use needs.
Shipment and Revenue Trends in 2022
Laptop shipment volume for 2022 is expected to be less than 2021. The volume increased exponentially between 2019 and 2021;
- 164 million pcs in 2019
- 180 million in 2020
- 185 million in 2021
Gartner reports an overall market decline in the first quarter of 2022 by 6.8%. Statista forecast shows that the shipment volume will drop to 182 million pcs. The drop is attributed to decreasing demand for online education as students return to physical schools.
However, business users have increasing demand, especially for hybrid laptops. If you factor in supply issues due to the Ukraine-Russia crisis, 2022 is challenging for the market. But, growth traction will slowly pick up in 2023 if things remain the same.
Based on revenue, 2022 will register US$124 billion, down from US$126 billion last year. China is leading, followed by the US:
- China US$23.3 billion
- US US$21.5 billion
- India US$5.6 billion
- Japan US$4 billion
- Turkey US$3.7 billion
In short, China and the Asia Pacific region remain the top most lucrative global markets. But, as mentioned earlier, the refurbished market is also expanding. You’ll be better off engaging with the best market research companies in your target region to understand the market better.
Market Outlook in 2022
That said, the biggest winners are the business segment, with Lenovo registering the highest shipment volumes.
Lenovo commands a 23% market share from Gartner’s preliminary shipment data. HP and Dell follow closely with 20% and 17%, respectively. Apple finishes fourth with 9%. The above data are based on the first quarter of 2022.
Gaming laptops are posed to gain massive growth from 2022 onwards. It will expand from US$11 billion to US$18 billion in 2026. It makes it a lucrative segment, but discretionary spending can affect the market.
The rest of 2022 and subsequent years entirely depend on global economic factors. Global inflation has pushed many consumers into discretionary spending. The Russia-Ukraine stalemate and a looming China-Taiwan crisis can further affect the market.
The laptop market is declining in 2022 but will rise exponentially from 2023 onwards. However, the growth in post-2022 depends on prevailing global economic conditions. The Russia-Ukraine crisis and rising global inflation have led to discretionary spending and reduced demand.
The corporate and gaming laptop segment is enjoying substantial growth. In fact, the gaming segment is expected to reach US$18 billion in 2026 from its US$11 billion in 2022.
However, pandemic induced economic slump, the Ukraine-Russia crisis, and a looming war between China and Taiwan can further hurt the market.
But, the data used in this research is preliminary. It may not provide a detailed report on your niche market. That is why you should engage with the best market research companies to help you.