Describe the recent trend in the price of the laptop and market overview.
Laptop Market Overview
With the ramified economic changes and innovative development in technologies, the price of the laptop in market has changed drastically. The price of the laptop and its trend in market could be observed by using the price elasticity of the demand. It is analysed that global laptop market size has been valued at USD 101.67 billion in 2017 which increased by 22% in 2018. The main increase in the overall market size is based on the increased demand of the laptop products and its supply (Laptop Market Overview, 2019). However, with the globalisation, sell of the business laptop has increased by more than 45% in 2018 as compared to last three year data (Peeters, et al. 2018).
(Laptop Market Overview, 2019).
The price of the Laptop on international level has decreased throughout the time due to the high supply. The main reason of decreasing price of the laptop is based on its less cost assembling and high supply in market.
Source:- (Tan, et al. 2015).
The average price of Laptop has decreased by 24% since last 10 years. However, in 2008, cost of one laptop in market was $750 on global level, now the price has decreased to $ 600 for one laptop. The main reason of decreasing sell price of the laptop in market is based on the high supply of the laptop and high competition (Parvez, et al. 2018).
|Price ($)||Quantity bought for laptop|
|750||N Number of Laptop in 2008|
|725||N Number of Laptop in 2010|
|700||N Number of Laptop in 2015|
|650||N Number of Laptop in 2017|
|600||N Number of Laptop in 2018|
It is analysed that in 2018, laptop ranging between $500 to $1000 held substantial pave in the global market segment. These laptop poised to be the fastest growing segment throughout the time. It is analysed that in term of the volume, laptop market segment on international level, sows the 12% average growth in its sell and decrease in the price by average 24% since last 10 years. However, globalised market segment and advancement in the technologies, sell of the laptop is consistently increasing and many companies are using life cycle strategy to compete in the market. Many new laptop with consistent advance configuration and operating system is highly dominating the market. Now a days, highly advance laptop accompanied with the system supporting for personal, business and gamming are highly sold in market. The laptop market segment is highly penetrated by the advance features by Dell, Samsung, Apple and HP. Nonetheless, below is the table shows the market trend and competitors list who are dominating the laptop market industry (Peeters, et al. 2018).
(Yu, et al. 2017).
Now in the end, it could be inferred that price of the laptop product has decreased due to the price elasticity of the demand and supply. The supply of the Laptop product has increased more than the demand in market which has resulted to the high competition and low price of the product. Nonetheless, market size of the company has increased drastically due to the availability of the different laptop at cheap rate.