by Notebooks provide versatility and convenience to users for completing tasks on the go. They are lightweight, affordable, and deliver a complete computing experience in a compact form factor. Notebooks dominate the PC market as they offer users flexibility to work, study, and access entertainment from anywhere.
The Global Notebook Market is estimated to be valued at US$ 168.22 Billion in 2024 and is expected to exhibit a CAGR of 16% over the forecast period of 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. Some of the key opportunities in the market include increasing demand of notebooks from students and workforce for flexible learning experience and work from anywhere culture. Major players are focusing on expanding their business globally in regions such as Asia Pacific, Latin America and Middle East & Africa where demand for notebooks is increasing rapidly.
Market Drivers
The key driver for the Global Notebook Market Size is the rising demand from students and professionals for flexible and mobile learning experience. Notebooks offer the flexibility to study or work from anywhere, whether at home, college, coffee shops or any other location. This has been fueling adoption of notebooks globally. Other factors such as affordability of notebooks compared to desktops, longer battery life and compact size are also propelling the notebook market growth. Growing BYOD (Bring Your Own Device) policy implementation across enterprises is further driving the demand.
PEST Analysis
Political: The government regulations regarding environmental protection and animal welfare impact R&D spending and product approvals for the notebook market. Environmental policies can influence the materials used by manufacturers.
Economic: Macroeconomic factors like global GDP growth, rising disposable incomes in developing nations contribute to higher demand for notebooks. Additionally, strong economic growth allows companies to increase their R&D spending to develop new products.
Social: Changing work patterns and lifestyles like increased remote working and digitalization boost demand for lightweight, high-performance notebooks. Furthermore, rising health awareness among consumers benefits markets providing fitness trackers and health monitoring features in notebooks.
Technological: Continuous innovations in areas like processors, displays, and battery technologies enable higher performance at reduced weight and size of notebooks. Cloud storage and computing are additional technologies enabling collaboration and accessibility of data from any location.
In terms of geographic concentration, North America currently accounts for the largest value share in the global notebook market supported by highly developed IT infrastructure and early technology adoption among enterprises and consumers. However, Asia Pacific is expected to be the fastest growing regional market led by China and India experiencing rapid growth in the tech and business sectors coupled with a growing middle-class population increasingly demanding smart devices.
Another fast emerging region for the notebook market in terms of value is Middle East & Africa on account of increasing government investments in IT infrastructure, education, and expanding user base of internet connected devices in countries like Saudi Arabia, South Africa, and UAE. Rising internet penetration rates provide an impetus to the sales of notebooks supporting online learning, working and entertainment applications.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
