May 23, 2024

Global Notebook Market is Estimated to Witness High Growth Owing to Advancements in Portable Computing Technologies

The global notebook market comprises of portable personal computers or laptops that allow users to access applications, files, and web content anywhere and anytime on the go. Notebooks provide advantages like portability, ease of use, long battery life, versatility, and durable designs. The need for portable computing devices has increased tremendously among business professionals, students, and individuals for productivity and entertainment purposes while traveling.

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. These players are focussing on developing advanced portable devices with enhanced battery life, processing power and lightweight designs to gain more market share.

The key opportunities in the notebook market include rising demand for budget-friendly notebooks from education and commercial sectors due to the hybrid working model adopted by many businesses post-COVID. Furthermore, the increasing focus on developing economical and customized notebooks tailored as per specific industry needs will further drive the market growth.

Recent technological advancements like foldable and dual-screen notebooks are gaining traction. The dual-screen and foldable notebooks provide larger screen real estate and productivity in compact designs. Moreover, innovations in silicon chips, graphics cards, and longer-lasting batteries continue to enhance computing power and experience.

Market drivers
Growing demand for mobility solutions from consumers and enterprises is a key driver for the notebook market. The ability to access files, documents and internet from anywhere instantly has increased the adoption of notebooks tremendously. Furthermore, increasing workforce mobility, digitalization of industries, and focus on remote and hybrid working models have bolstered the demand. The cost-effective and portable nature of notebooks compared to desktops also contributes to higher sales.

Current challenges in Global Notebook Market
The Global Notebook Market Size is facing various challenges which are hindering its growth. Supply chain disruptions caused due to the Covid-19 pandemic have affected the production and distribution of notebooks globally. Also, a shift in consumer preference towards tablets and mobile devices is one of the major challenges for notebook manufacturers. Rising competition from smartphones and tablets is reducing the demand for traditional notebooks. Additionally, changing consumer demand towards thin, light and portable devices pose design and innovation challenges for market players.

SWOT Analysis
Strength: Notebook provides better productivity due to its larger screen size and full-sized keyboard. Weakness: Higher price of notebooks compared to tablets limits their adoption. Opportunity: Increasing demand for notebooks from education and corporate sectors for professional use. Threats: Threat from substitutes like tablets, smartphones and hybrid devices.

Geographical regions where market in terms of value is concentrated
North America accounts for the largest share in the global notebook market in terms of value. This is attributed to high consumer spending on premium notebooks for gaming, engineering and professional use in the region. Asia Pacific is another major revenue generator due to presence of manufacturing bases and huge consumer base in countries like China, India and Japan.

The fastest growing region for Global Notebook Market
It is expected that Asia Pacific will witness the highest growth in the global notebook market during the forecast period. This is owing to rising education & employment opportunities, increasing digitalization and growing adoption of hybrid working culture in emerging economies of the region. Initiation of manufacturing facilities by global players is further supporting the notebook market growth in Asia Pacific.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it