Tablet PC Market Expected to Reach $325.15 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Tablet PC Market," The tablet pc market was valued at $70.72 billion in 2021, and is estimated to reach $325.15 billion by 2031, growing at a CAGR of 16.7% from 2022 to 2031.

The unprecedented demand for better hardware technologies is a crucial factor for development of the market. The use of tablet PCs is not restricted to a particular age group, and the heterogeneity of demand has given an impetus to market growth. Several streams of revenues currently exist in the global tablet PC market. A large number of people are inclined toward buying latest electronic gadgets. Increased affordability of the masses has created a farrago of opportunities within the tablet PC market, which is expected to be beneficial for the Tablet PC Market Size growth in the upcoming year.

On the basis of distribution channel, the offline segment dominated the overall tablet PC industry in 2021 and is expected to continue this trend during the forecast period. Offline distribution channels have an advantage of forming a personal relationship with customers, less product return rate, and touch & feel of the goods, the distributors can make use of these aspects to grow. Such benefits drive the growth of offline segment. However, the online segment is expected to witness the highest Tablet PC market growth in the Tablet PC Market Forecast period. The online distribution provides variety of products, solutions, brands. Through this manufacturer can understand and aware of the consumer preferences in online shopping. Furthermore, businesses are shifting toward digitalization and increasing implementation of Industry 4.0 to cope with ongoing tough business competition, it creates online shopping demand around consumers thus, provide the lucrative growth opportunities for this segment.

Depending on end user, the consumer segment captured the largest Tablet PC Market Share in 2021, and is expected to continue this trend during the forecast period. Increase in adoption of tablet PC for educational and entertainment purpose further drive the growth of this segment. However, the commercial segment is expected to witness highest growth in the upcoming years. Usage of tablet PC in commercial area has become more popular as it helps to improve productivity, efficiency, and communication.

The tablet PC market was valued at $80.83 billion in 2022, and is projected to reach $325.15 billion by 2031, registering a CAGR of 16.7%. The current estimation of 2030 is projected to be higher than pre-COVID-19 estimates. Governments and businesses are increasingly asking employees to work from home or are shifting work to employees in less affected areas to maintain business continuity during the pandemic. However, the situation has accelerated the adoption of advanced technologies such as AI powered solution, automation, big data and analytics to control costs while improving the customer experience, which eventually boost the adoption of Tablet Computer. Tablet Computer have an advantage of a comfortable screen size which consumers can use for entertainment, gaming, reading and learning purposes, especially due to a surge in adoption of e-learning across educational institutions and enterprises.

Furthermore, during covid-19 outbreak it potentially increased market demand from healthcare and law enforcement for operate work smoothly and efficiently. Technology plays a key role in helping address the near term challenges the virus has created. On the contrary, Key players working hard to continue producing and developing the products for customers to address the challenges. For instance, February 2022, Huawei Consumer Business Group launched the seven latest products, including: latest flagship laptop, first all-in-one PC, a new 2-in-1 laptop, its first E-Ink tablet, and new HarmonyOS tablet, as well as the company's first-ever printer, and latest portable speaker to create smart offices and fresh experiences for global consumers. Due to growing requirement to modernize business operations is expected to propel the Tablet PC Industry growth globally during the forecast period.

KEY FINDINGS OF THE STUDY

• By operating system, the android segment dominated the tablet pc market in 2021. However, the iOS segment is expected to exhibit significant growth during the forecast period.
• On the basis of distribution channel, the offline segment dominated the Tablet PC market in 2021; However, the Online segment is expected to witness the highest growth rate during the forecast period.
• Depending on End User, the consumer segment generated the highest revenue in 2021. However, the commercial segment is expected to witness the highest growth rate in the near future.
• Region-wise, the tablet PC market was dominated by Asia-Pacific in 2021. However, North America is expected to witness considerable growth in the coming years.

This report gives an in-depth profile of some key market players in the tablet PC market, Apple Inc., Acer Inc., ADLINK, Amazon, Inc., ARBOR Technology, ASUSTek Computer Inc., DAP Technologies, Glacier Computer, Hewlett-Packard (HP), Huawei Technologies, Lenovo Group Ltd., LG Electronics, Inc., Microsoft Corporation, NEXCOM, Nokia Corporation, Samsung Electronics Co. Ltd. and Toshiba Corporation. This study includes market trends, Tablet PC Market Analysis, and future estimations to determine the imminent investment pockets.