Chromebook Market size was valued at US$ 30.13 Bn. in 2022 and the total revenue is expected to grow at 8% through 2023 to 2029, reaching nearly US$ 51.64 Bn.
Chromebook Market Overview:
The Chromebook Market was valued at USD 30.13 billion in 2022, and is predicted to grow at a CAGR of 8 percent to USD 51.64 billion by 2029. The Chromebook Market is studied by segments like Product (chromebook laptops, chromebook convertibles, and chromebook tablets), Screen (Touch Screen, Non-Touch Screen), Application (education sector, corporate sector, and others) and Region (North America, Europe, Asia-Pacific, and Rest of the World). The report consists of the Trend, Forecast, Competitive Analysis, and Growth Opportunities of the market.
To know about the Research Methodology:-Request Free Sample Report Chromebooks are essentially lightweight laptop or tablet replacements that run on Chrome OS, a Linux-based operating system that runs on the Chrome browser. Chromebooks are designed to handle less processor-intensive and demanding tasks, and they are less expensive than their Windows or macOS counterparts. The market is predicted to grow at a rapid pace, owing to manufacturers’ increased focus on launching new products. For example, in August 2021, Dell and Google released the Chromebook Enterprise notebook, which is a 2-in-1 device. For the forecast period of 2023 to 2029, the report provides a complete analysis that reflects today’s Chromebook Market realities and future market prospects. To provide a comprehensive perspective of the market, the research segments and analyses it in great detail. The key data and observations offered in the study can help market participants and investors identify low-hanging fruit in the market and build growth strategies. COVID-19 Impact on Chromebook Market The COVID-19 pandemic has had a considerable impact on school and workplace contexts, resulting in a rise in notebook shipment volume in the first quarter of 2022, with chromebooks showing significant growth. Many factors have contributed to the exponential development in sales of this gadget, including the switch to distance education or remote learning in many nations to combat the spread of COVID-19. Because parents are exercising extreme caution in terms of budget allocation during the pandemic, the education sector is a big market for chromebooks, which explains why the gadget is chosen by students in North America and Europe.
Chromebook Market Dynamics:
Students’ growing need for cost-effective and technologically advanced equipment is driving market revenue development. Chromebooks are useful for increasing productivity and strengthening teamwork. These devices make use of a variety of online apps that give users real-time access to data and work, giving up new avenues for collaborative work. Furthermore, these gadgets start up significantly faster, in just 5 to 10 seconds, decreasing wait times and increasing productivity. Chromebooks are less expensive than traditional laptops, owing to decreased hardware costs. These gadgets contain no moving components and are therefore less subject to mechanical failures, resulting in increased dependability and longevity and lower repair costs. Furthermore, because the majority of operations on a chromebook are cloud-based, there is no need to spend money on hard storage for data backup. Chromebooks can considerably reduce CAPEX and OPEX while significantly reducing risk in an organization. Chrome OS is designed primarily for cloud operations, reducing the need for storage, computation, and software, allowing for great productivity with little hardware and software configuration. Trying to transition terminal devices into upgrade-based chromebooks as a substitute for expensive PCs with legacy OSs such as Windows OS may be highly advantageous for enterprises aiming to improve, collaboration, mobility, and security while reducing costs. Chromebooks have advantages such as low-cost software. G-Suite, a cloud-native collaboration, security, and productivity app with the ability to manage important computing requirements such as email, chatting, calendar, word processing, as well as spreadsheets, among others, is used by a variety of single users and businesses for a low monthly fee of USD 6.0 for the basic package. Apart from G Suite, users can also use cost-effective or free browser-based alternatives such as the free online version of Microsoft Office or the entry-level plan of Office 365, which provide email and cloud-based memory in addition to Word, OneNote Excel, and PowerPoint, among others. Antivirus attacks are less likely on Chromebooks. These gadgets’ features, like as cloud computing and minimal software installation, make it nearly hard for a virus to infect the system. Furthermore, Chrome OS is regarded as one of the most effective and efficient operating systems currently accessible. In chromebook, virus protection as well as automatic periodic updates prevent the recurrence of virus attacks. Chromebooks’ limitations, as compared to Windows or macOS, such as a feature-rich interface and the installation of prominent software solutions which are not browser-based, may hinder market growth in the near future.
Chromebook Market Segment Analysis:
Based on product type, the chromebook market is classified into chromebook laptops, chromebook convertibles, and chromebook tablets. In 2022, the Chromebook laptops segment generated the most revenue. In comparison to typical laptops, these laptops make considerable use of cloud computing. These also have a number of advantages, such as the fact that software applications do not need to be saved or executed on the device’s built-in storage space. This aids in improving speed and performance, raising student success, increasing student excitement and engagement, and improving teacher-student interactions. In the forecast period, the Chromebook convertibles category is predicted to increase at a high rate. These devices allow users to detach and change the laptop to something like a touchscreen tablet or the entire unit depending on their needs and convenience. Furthermore, 2-in-1 convertibles give customers who are regularly on the go the added convenience of being able to move around with only one device that fulfills all of their needs. Based on screen type, the global chromebooks market is classified into touchscreen and non-touchscreen. In 2022, the non-touchscreen segment had a greater revenue share. These screens are less expensive than touchscreens and do not place additional strain on batteries, eliminating the issue of rapid charge loss. They are also lighter in weight. Touchscreen chromebooks enable flexibility with stylus pen options, making computing activities simple to complete just by touching. These also allow the chromebook to be rotated 180 to 360 degrees. Touchscreens are a must-have feature for 2-in-1 convertible chromebooks. ASUS, for example, offers a Chromebook Flip that can be disconnected from the base unit and used as a tablet.
Based on application, the chromebooks market is classified into education sector, corporate sector, and others. During the projection period, revenue growth in the corporate sector is expected to be strong. Because more corporate software solution suppliers are transitioning to mobile apps and web clients, such as programs available on Google Play, Chromebooks are helpful for business use. Since many schools provided the students with chromebooks to establish a one-on-one engagement environment online, the education sector accounted for the greatest revenue share in 2022. Chromebooks in the classroom provide additional information and curriculum assistance, allowing students to keep track of their assignments and use an online school calendar, as well as submit work online via e-mail. It also improves the relationship between students and teachers.
Regional Insights:
According to geographical analysis, the Asia Pacific chromebooks market is likely to grow rapidly throughout the forecast period, owing to rising demand for chromebooks in the education sector in countries such as China, South Korea, and Japan. Furthermore, the development of internet services in Asia Pacific is another major driver driving market growth, as Chrome OS, which runs on the device, requires high-speed Internet to function. Due to the widespread use of chromebooks by students in schools, colleges, and institutions, North America accounted for the greatest revenue share in 2022. To understand the Chromebook industry and study the market trends. Focusing on the regional market and other segmentations, knowing the drivers and challenges of the same. Understanding the market segment geographically to gauge the growth potential. The report includes analytical models like the Porter’s Five Forces, which helps in understanding the operating environment of the competition in the Chromebook Market and thereby study the stakeholders to derive an efficient strategy; and PESTLE Analysis to gain a macro perspective of the Chromebook Industry in terms of political aspects like Government stability, policies, trade regulation and economic aspects like market trends, taxes and inflation. It also provides the effect of environmental factors and influence of social and legal aspects on the Chromebook Market.
From https://www.maximizemarketresearch.com/market-report/chromebook-market/146506/
