Expert Market Research Explores the Top 10 Companies in the India Laptop Market

The India laptop market attained a value of more than USD 6.82 billion in 2023. The market is projected to grow at a CAGR of 4.2% between 2024 and 2032, reaching a value of around USD 10.02 billion by 2032. As per the analysis by Expert Market Research, the market is expected to be driven by the growing startup landscape and rapid internet penetration.

India has become the world's 3rd largest startup ecosystem with over 1.12 lakh DPIIT-recognized startups across 763 districts as of October 2023. From 2015 to 2022, India's startup landscape saw a 15-fold increase in funding, a 9-fold rise in investors, and a 7-fold growth in incubators. It ranks 2nd in innovation quality among middle-income economies, excelling in scientific publications and university quality. Indian startups span 56 sectors, with significant contributions from IT services (13%), healthcare (9%), education (7%), agriculture (5%), and food and beverages (5%).

The number of unicorns has surged, with India hosting 111 unicorns valued at $349.67 billion as of October 2023. The trend accelerated post-2017, with 66% annual growth in new unicorns. Notably, 45 unicorns emerged in 2021 and 22 in 2022, with Zepto being the sole unicorn of 2023. These startups are driving innovation and substantial employment.

Further, growing internet penetration in the country is accelerating the demand for new consumer electronics, especially laptops. According to the World Bank, Indians using the internet increased from 20% in 2018 to 46% in 2021. In addition, the “Make in India” campaign and the huge service-oriented economy are expected to influence the India laptop market growth positively.

The market dynamics is also shaped by new and advanced consumer electronic products being introduced to the Indian market. In April 2024, Lenovo launched the IdeaPad Pro 5i laptop in India, featuring Intel Core Ultra 9 processors, a 14-inch 2.8K OLED display, and a price starting at Rs 1,09,990. The laptop, available in Arctic Grey, boasts a 120Hz refresh rate, Dolby Atmos sound, 32GB memory, up to 1TB storage, and an 84Wh battery with Rapid Charge Express technology for extended use and quick charging.

In January 2024, ASUS launched the Zenbook 14 OLED (UX3405) in India, featuring an Intel Evo Edition AI-powered Core Ultra processor and Intel Arc graphics for superior performance and energy efficiency. The compact laptop operates on Windows 11 Home and weighs only 1.2 kg, offering a 14-inch 3K 120Hz OLED touch display for vivid visuals.

Top 10 Laptop Manufacturers in India:

Lenovo Group Limited

Lenovo is a global tech leader with a revenue of USD 56 billion as of December 2023. It ranked 217 in the Fortune Global 500 and employs 77,000 people across 180 markets. Committed to "Smarter Technology for All," Lenovo expands into client, edge, cloud, and AI sectors. It is listed on the Hong Kong Stock Exchange, and leverages workforce diversity to drive innovation and redefine technological boundaries.

Dell Technologies Inc.

Dell Technologies is a multinational conglomerate, offering an IT solutions portfolio. The company is organized into two business units namely, Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG). CSG offers PCs including notebooks, desktops, and workstations and it also offers peripherals like displays, docking stations, keyboards, mice, and webcam and audio devices among others. The company operates in over 170 countries, with a global revenue of USD 88.43 billion in February 2024.

HP Inc.

HP is a leading global provider of personal computers, and other digital access devices, imaging, and printing solutions. The company offers its products to individuals, small and medium-sized businesses, and large enterprises, including education sectors and government organisations. Its business is segmented into personal systems, printing and corporate investments. The company employs 58,000 individuals in 59 countries. It generated a revenue of USD 53.72 billion in the fiscal year ending October 2023.

HCL Technologies Limited

HCLTech is an Indian-based global technology company. It offers industry-leading digital, engineering, cloud and AI capabilities, powered by a broad portfolio of technology services and products. The company employs over 227,000 people across 60 countries. The company offers industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG, and Public Services. HCL Technologies has consolidated revenue of USD 13.3 billion as of March 2024.

ASUSTeK Computer Inc

ASUS is a global technology leader dedicated to enhancing lives through innovative and intuitive devices. Renowned for pioneering gaming, content creation, AIoT, and cloud solutions, ASUS focuses on user-centric design and continuous reimagination of technology. With over 5,000 R&D experts, ASUS earned more than 11 daily awards in 2020 and is listed among Fortune’s World’s Most Admired Companies. The company has a presence in Asia Pacific, America, Europe, and the Middle East. It emphasises innovation, transparency, and environmental stewardship, fostering a culture of creativity and collective wisdom to set new industry standards.

Apple Inc.

The company designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related services. The company was founded in 1976. Its flagship products include the iPhone, iPad, and Macintosh, along with tablets, wearables, and accessories. Its software platforms include iOS and macOS. Apple operates on a global scale, segmenting its business into the Americas, Europe, Greater China, Japan, and the Rest of Asia Pacific. The company is committed to innovation and social responsibility, continuously redefining possibilities and enhancing lives worldwide.

Acer Inc.

Founded in 1976, Acer is a global leading ICT company with operations in over 160 countries. The company has a workforce of about 7,500 employees. Acer innovates across multiple sectors, including PCs, gaming, and smart solutions. Emphasizing creativity and autonomy, it offers customized products for gamers, creators, and educational environments.

Samsung Electronics Co., Ltd.

Samsung Electronics, a global technology conglomerate, offers a wide range of products such as TVs, smartphones, and semiconductors. The company was established in 1969 and operates extensively across the Americas, Europe/CIS, Middle East/Africa, and Asia. With 198 overseas subsidiaries dedicated to manufacturing, sales, and R&D, Samsung has an extensive network of production facilities and regional sales offices. The company recorded an annual sales of KRW 302.2 trillion in 2022.

Micromax Informatics

Micromax Informatics Limited is a leading Indian consumer electronics company. It is also the 10th largest mobile phone player globally. It has a diverse product portfolio including dual-SIM phones, Android smartphones, tablets, laptops, and LED TVs amongst others. Micromax sells around 2.3 million mobility devices monthly, with a strong presence in over 560 districts in India.

Lava International Limited

Lava International Limited is one of the leading Indian mobile phones, tablets, laptops and communication equipment company with a global presence. Pioneering the ‘Make in India’ initiative, Lava has established a comprehensive mobile handset design and manufacturing ecosystem in India, becoming the first to achieve this feat. Lava’s products are available through a vast network of 165,000 retailers and 1,000 distributors. Additionally, it has over 800 service centres in India.