According to the latest report published by Credence Research, Inc. “Global Hybrid (2 in 1) Laptops Market – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global hybrid (2 in 1) laptops market was valued at US$ 8,882.7 Mn in 2017, expected to grow at a CAGR of 6.4% from 2018 to 2026.
Browse the full report Global Hybrid (2 in 1) Laptops Market – Growth, Future Prospects and Competitive Analysis, 2018-2026 report at https://www.credenceresearch.com/report/hybrid-2-in-1-laptops-market
Market Insights
Rising demand for convenience and mobility among the working population is one of the key factors augmenting market growth of hybrid (2 in 1) laptops at the global level. They are also known as convertible laptops, where the screen of the laptop can be detached from the entire unit to take the form of a tablet, while possessing features and functionality similar to that of a normal laptop. These devices are designed to cater consumers demanding flexibility in devices used for work purposes. While tablets are good choice for entertainment purposes, they are inappropriate for work purpose due to factors such as low-end processors, and less storage capacity, among others. Hybrid (2 in 1) laptops are designed to perform the tasks as a tablet and as a laptop while boasting higher processor speeds, and better storage capacities, and offering similar flexibility to that of a tablet. Owing to these factors, consumers are increasingly adopting such laptops as a suitable replacement to tablets, which is a key factor fuelling market growth.
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Aggressive research & development activities leading to frequent product developments is one of the key factors fuelling the demand for hybrid (2 in 1) laptops. High demand for mobility and flexibility among the working populace has led the manufacturers to bring out hybrid laptops with various screen sizes for its consumers. Further, several educational institutions provide laptops for their students to serve their graduation period due to which the manufacturers have introduced hybrid laptops dedicated for educational institutions designed for rough usage. However, high cost of such laptops is one of the major factors responsible for market slowdown. Due to the high price of such laptops, price sensitive consumers refrain from buying these devices and usually settles for a conventional laptop, the price of which are lower compared to a hybrid laptop.
The market for hybrid (2 in 1) laptops has been segmented based on screen size, distribution channel, age group and region. Based on screen size, the 13.3 inches/13.5 inches segment accounted for the major market share in 2017, followed by the 12 inches/12.5 inches segment. These laptops are highly preferred by the working population due to their high performance combined with lightweight that allows the consumers to carry them around without much efforts. Based on distribution channel, the electronic stores segment accounted for the majority share in 2017, followed by the online channel segment. Growing inclination towards online purchases is one of the key factors fuelling the demand for hybrid laptops through the online segment. Based on age group, the 25-45 years segment accounted for the highest market share in 2017. This segment comprises the working population who prefer lightweight devices with greater flexibility and would not mind paying a higher price for such a product.
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North America dominated the global hybrid (2 in 1) laptops market in 2017, followed by Europe. Higher purchasing power of consumers in these regions is one of the key factors responsible for the high demand for hybrid laptops. Further, rising trend of BYOD (Bring Your Own Device) is another key factor complementing the growth of the hybrid (2 in 1) laptops market in North America and Europe. Asia Pacific expected to be the fastest growing market led by China, Japan and India. Rising demand for premium products among the working population backed by improving purchasing power of the millenials are some of the factors boosting the growth of the hybrid (2 in 1) laptops market in Asia Pacific.
Key players operating in the field of hybrid (2 in 1) laptops include The Hewlett-Packard Company, Dell, Lenovo Group Ltd., AsusTek Computer Inc., Acer Inc., Toshiba Corporation, Microsoft Corporation, Samsung, Japan Industrial Partners Inc. (Vaio), and AWOW, and various others.
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