- Lower prices of Chromebooks, as compared to other laptops available in the market, is a significant factor driving the growth of the market.
- Market Size – USD 5.95 Billion in 2019, Market Growth - CAGR of 8.2%, Market Share – Growing demand among students, especially in the US
NEW YORK, Aug. 18, 2020 /PRNewswire/ -- The Global Chromebooks Market is expected to reach USD 14.03 Billion by 2027, according to a new report by Reports and Data. Chromebooks are fundamentally lightweight substitutes for laptops/tablets that function on ChromeOS, a Linux-based operating system, which uses Chrome browser for its operations. Chromebooks are developed to manage less processor-intensive and demanding jobs and are much less expensive as compared to Windows OS/ macOS counterparts. The market is witnessing significant growth attributed to the growing emphasis by manufacturers to launch new products, e.g., Dell, in August 2019, launched the Chromebook Enterprise laptop, a 2-in-1 device in association with Google.
Chromebook offers the benefits of lowering the cost of the software. Several persons and enterprises, employ G-Suite, a combined set of cloud-native cooperation, secure, and productivity apps with the capability to manage essential computing requirements comprising email, calendar, chatting, word processing, and spreadsheets, among others, smoothly and seamlessly at a very cheap rate of USD 6.0 per month for the basic package. Apart from G-suite, cheaper or free browser-based substitutes may also be used, such as the free online version of Microsoft Office or the entry-level plan of Office 365 that offers users with email facility and cloud-based storage for in addition to Word, Excel, OneNote, and PowerPoint, among others.
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Chromebooks come at a lower price, primarily owing to a reduction in the cost of hardware use. These devices possess no moving parts and possibly less susceptible to suffer from any sort of mechanical faults, leading to better reliability and durability, thus saving repairing costs. Moreover, a majority of the operations in a Chromebook being cloud-based, there is no requirement for any expenses on buying physical storage for taking data backup.
Additionally, Chromebooks less susceptible to antivirus attacks. The device's focus on cloud computing, and none or much less installation of the software; make it almost impossible for a virus to get installed on the system. Besides, Chrome OS is considered one of the most operating systems available in the market and a virus protection standpoint: 'sandboxing,' 'verified boots,' and automatic periodic updates assist in the prevention of infection.
COVID-19 Impact Analysis
The COVID-19 pandemic has a substantial influence on the educational and work environments, which in turn, has led a surge in shipment volume of notebooks in the second quarter of 2020, with Chromebooks displaying a significant growth. The exponential growth in the sales of the device is owing to numerous reasons, including switching to distance learning or distance education in several nations to curb the spread of the pandemic. The education sector is a major market for Chromebooks due to the device being preferred by the student populace in regions of North America and Europe, as parents are taking utmost care, in terms of budget allocation, during the pandemic. Therefore, a significant shift in trends in the education sector is accountable for the high market demand.
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Further key findings from the report suggest
- By product type, Chromebook laptops contributed to the largest market share in 2019. These laptops make extensive use of cloud-computing as compared to traditional laptops and offer advantages such as the software applications that are not required to be saved or run on the built-in storage space of the device. It assists in speed and performance enhancement, improves pupil accomplishment, increases student's enthusiasm and engagement amongst students, and better teacher-student interactions.
- By screen type, the non-touchscreen held a larger market share in 2019. These kinds of screens are cheaper, do not put added stress on batteries, leading to faster battery drainage, and are lighter in weight than touchscreens.
- By application, the corporate sector is likely to grow at a rate of 10.1% in the forecast period. Chromebooks are beneficial for business usage, particularly as more and more business software move towards mobile apps and web clients such as apps offered on Google Play.
- North America contributed to the largest market share in 2019 and is likely to grow at a rate of 7.9% in the forecast period. The market dominance of the region is owing to the widespread usage of students in the schools', colleges, universities. In the year 2017, over 60.0% of the demand for Chromebooks was from the education sector.
- Key participants include Lenovo, HP, Asus, Dell, Google, Samsung, Acer, Huawei, Toshiba, and Sony, among others.
- In April 2020, ASUS made an announcement about the introduction of the ASUS Chromebook Flip C436, which presents a striking and stylish convertible form factor, highlighting a frameless NanoEdge touchscreen to make the most out of the available display size.
For the purpose of this report, Reports and Data has segmented the global Chromebooks market on the basis of product type, screen type, application, and region:
Product Type Outlook (Volume, Million Units; Revenue, USD Million; 2017-2027)
- Chromebook Laptops
- Chromebook Convertibles
- Chromebook Tablets
Screen Type Outlook (Volume, Million Units; Revenue, USD Million; 2017-2027)
Application Outlook (Volume, Million Units; Revenue, USD Million; 2017-2027)
- Education Sector
- Corporate Sector
Regional Outlook (Volume, Million Units; Revenue, USD Million; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- Rest of Middle East and Africa
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