Laptop market expected to grow by $22.22 billion through 2028

This should be new goods for Mac laptops: the laptop market size is estimated to grow by US$22.22 billion at a compound annual growth rate (CAGR) of 3.2% between 2023 and 2028, according to Technavio.

North America is poised to contribute 42% to the global market growth, fueled by key factors like the presence of major vendors and the booming gaming industry. Technavio says that leading players such as Apple, Dell, HP, and Microsoft benefit from robust distribution channels for laptops in the region, according to the research group. 

Additionally, the high popularity of video games among millions of adults in the US presents growth opportunities, especially in gaming laptops. These dynamics are driving the laptop market’s expansion in North America during the forecast period, according to Technavio. Fro the report:

• Growing demand for gaming laptops, fueled by the popularity of video games and online multiplayer gaming, is a major market trend. These laptops offer powerful computing capabilities, portability, and advanced features that appeal to gamers, driving their adoption. As internet access expands and gaming becomes more mainstream, the market for gaming laptops is poised for continued growth and innovation.
• Increasing smartphone and tablet capabilities pose a challenge to the market. Companies are launching affordable mobile computing devices, impacting traditional laptop sales. This trend, prominent in regions like India and China, impedes market growth. Declining traditional laptop sales due to high prices also contribute to the market’s challenges.

Apple recently introduced new 13-inch and 15-inch MacBook Airs. New MacBook Pros could also be launched this year.