The global laptop market will increase 9 percent in 2020 to 173 million units and over $132 billion in total sales value — riding on the surge in remote work and learning.
The top three players – Lenovo, Hewlett-Packard and Dell – accounted for 68 percent of the worldwide laptop market in 2020, according to Counterpoint Research.
There has been an increased level of competition between the second tier and third tier players.
Second tier players such as Apple, Asus and Acer have seen their market shares decline in recent years with the emergence of Chinese brands such as Huawei and Xiaomi, said Mengmeng Zhang, analyst with Counterpoint.
Work-from-home and study-from-home will likely continue into much of 2021 and some part of 2022.
“We expect the laptop shipments to continue to grow slightly in 2021 and 2022. The demand will slow down gradually in 2023,” Mengmeng Zhang said.
After reaching its peak in 2011, the laptop market growth has slowed down with the rise of alternatives such as smartphones and tablets.
Huawei and Xiaomi have expanded into laptops, quickly gaining a foothold, especially in the Chinese market.