Chromebook Market Size, COVID19 Impact Analysis, Regional Outlook, Application Development, Price Trend, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI211
Chromebook Market size is set to witness substantial inclination between 2021 to 2027 with the incessant need of students to attend schools remotely. The growing adoption of cloud computing technologies among businesses and consumers along with the surge in retail purchases for daily computing needs will add to the demand spurt of the product.
Chromebooks are budget-friendly and fundamentally devices that are suitable for less processor-intensive operations and run on Chrome OS, the Google operating system. Chromebooks are observing higher penetration across a host of applications, including banking, hotel industry, and financial services.
The affordable prices offered by the product over other existing laptops and the rising focus of leading manufacturers to come up with new products will significantly bolster the market growth.
In terms of end-use, the education sector is expected to be a major shareholder in the Chromebook market due to the spike in the sales of personal computers on account of the growing trend for remote education through online classes and digital learning in the pandemic. According to the International Data Corporation (IDC), the sales for laptops and PC exceeded 302 million units in 2020. The mounting popularity of Chromebooks over tablets across schools, mainly in the U.S., Western Europe, and Japan is another impact rendering factor for the industry.
Based on regional landscape, North America market is anticipated to gain traction owing to the presence of a robust education sector and rising acceptance in schools, colleges, and universities in the region.
Leading industry participants that significantly contribute to the market include Lenovo, Dell (Dell Technologies), Samsung, Toshiba, and Acer.
These electronic bigwigs are consistently turning to strategic decisions, such as partnerships, acquisitions, and mergers, and actively partaking in bringing innovations to their offerings to consolidate their position in the growing market competition.
For instance, in April 2021, HP unveiled its Chromebook 11a, configured with the MediaTek MT8183 Octa-core Processor for the Indian market to empower students in the country. The novelty offers a personalized as well as an interactive cloud-based digital learning experience for students while providing 16 hours of battery life suitable for attending a virtual classroom and entertainment.
In another instance, in January 2020, Google entered a partnership with Intel to ramp up the sales and bring premium Chromebooks to the market.
Impact of COVID-19 on Chromebook market trends
The COVID-19 pandemic drew significant impacts on almost every facet of life and contributed to major business, economic, and personal life changes. The nationwide lockdowns, as well as containment directives set into effect by various governments, resulted in the abrupt shuttering of numerous public entities, chiefly the IT sector, restaurants, malls, and educational facilities.
However, Chromebooks registered some groundbreaking demand during the outbreak led by the massive surge in bulk buying from enterprises and corporates in order to keep their business operations intact, and the workforce safe and connected. Laptops and Chromebooks proved to be instant hits as early as the initial days of the social distancing times and have since projected substantial growth. The International Data Corporation (IDC) had estimated that the Chromebook shipments equaled 13 million units in 1Q21 and saw a rise from 2.8 million during the first quarter of 2020. The rate of shipments for HP was valued at 0.6% in 1Q20 which increased to 4.4% in 1Q21.
With most parts of the world still bearing the brunt of the pandemic and with the imposition of varying degrees of lockdown, the industry share is likely to grow to a robust pace in the coming years.
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