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The computer accessories market size is estimated to grow at a CAGR of 5.96% between 2023 and 2028. The market size is forecast to increase by USD 4.85 billion. The market's growth depends on several factors, including the growing favor of e-sports, the increased demand for wireless products, and the adoption of process automation in industries. Computer accessories are devices that enhance the features of the computer. They can be connected externally or internally to the computer system. Computer accessories are categorized into audio speakers, mouses, modems, web cameras, microphones, and keyboards.
The report includes a comprehensive outlook on the Computer Accessories Market, offering forecasts for the industry segmented by End-user, which comprises business sector and consumer sector. Additionally, it categorizes Product into external HDDs, gaming accessories, portable speakers, pointing devices, and others, and covers Regions, including North America, APAC, Europe, South America, and Middle East and Africa. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
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The adoption of process automation in industries is the key factor driving market growth. The non-portable features and functions of PCs have led organizations to include more systems in the office infrastructure. As a result of this, there has been an increasing demand for peripherals. There is significant and parallel growth in shares invested in the business sector as well as the high-tier market.
Moreover, organizations use PCs for their reliability and easy access, which ensures smooth functioning right from the top management to the employees at the bottom of the hierarchal pyramid. The current demands of business organizations will ultimately give rise to a high rate of manufacturing in the global computer accessories market during the forecast period.
Increased preference for assembling is the primary trend shaping market growth. A tendency to assemble the PC instead of buying the whole product, including the accessories from the same market players, seems to be on the rise. The majority of business segment users and non-business segment users prefer to integrate accessories from third-party providers. This results in a low-price range and allows the end-user to select accessories as per their budget and need.
Additionally, the availability of personal computer (PC) accessories sold by third-party providers provides customers with a wider choice of market players. It also allows individual customers and enterprises to select designs and products from different vendors at budget prices. Thus, such factors have driven the growth of the global computer accessories market during the forecast period.
The long product lifecycle of computer accessories is a challenge that affects market growth. Branded computer accessories are of reliable quality. Vendors engage in in-depth R and D and develop innovative and durable materials to extend the operational life of their computer peripherals. The average lifespan of a computer mouse is three years, whereas the lifespan of a keyboard is 5.5 years. The long lifespan of such products reduces the frequency of product replacements, thus adversely affecting the market growth.
In addition, the key manufacturers of computer accessories offer product warranties and guarantees, which further increase the lifespan of products. Thus, such factors reduce repeat purchases of computer accessories. Moreover, the low maintenance cost of computer accessories reduces their repeat purchases. Consequently, factors such as low product lifecycle may impede the growth of the global computer accessories market during the forecast period.
The market share growth by the business sector segment will be significant during the forecast period. The increased use of scanners and printers for various business purposes, such as emailing, posting, and others, drives the demand for computer accessories in the business sector segment. The use of accessories, such as hard drives, mice, and keyboards, has increased in corporate offices.
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The business sector segment showed a gradual increase in the market share of USD 8.07 billion in 2018. Business units no longer go for manual recording for data compilation. Therefore, they have replaced them with personal computer (PC) accessories. Startups are sprouting every day with the expanding global economy, which means more workspaces will need more PCs. Hence, this trend will drive the business sector of the computer accessories market during the forecast period.
The external HDDs segment is the largest contributor of revenue to the global computer accessories market. Growth in the sales of external HDDs is attributed to the increase in data usage and the need for backup in case the internal HDD of a system crashes. The growth rate of the external HDDs segment is expected to decline due to the emergence of the cloud. However, the effect of the cloud will not be arbitrary in terms of revenue due to privacy issues. HDD loading involves a business installing illegal copies of the software, which can lead to legal issues. However, the cloud is more vulnerable to security breaches than external HDDs. Therefore, the external HDDs segment in the global computer accessories market will grow significantly during the forecast period.
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APAC is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to companies is North America. There was an increase in the sales of PC gaming devices, keyboards, and pointing devices, but there was an offset in the sales of webcams and headsets in this region. The top two market players of external HDDs, namely Western Digital and Seagate Technology, are based in North America. These two companies account for almost the entire North American market.
Moreover, North America is expected to remain the largest revenue contributor to the computer accessories market during the forecast period, with the US making the largest contribution. Additionally, rapid advances in technology accompanied by a growing number of gamers in this region will lead to increased demand for personal computer (PC) accessories. The growth rate in the region is expected to be steady as the market matures.
The Computer Accessories Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Computer Accessories Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The computer accessories market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018-2028
Computer Accessories Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.96% |
Market Growth 2024-2028 |
USD 4.85 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.45 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 36% |
Key countries |
US, China, Japan, South Korea, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
A4TECH, ASUSTeK Computer Inc., AZIO Corp., Corsair Gaming Inc., COUGAR, Dell Technologies Inc., GN Store Nord AS, HP Inc., Lexmark International Inc., Logitech International SA, Mad Catz Global Ltd., Microsoft Corp., Mionix, Razer Inc., Seagate Technology Holdings Plc, Seiko Epson Corp., Sony Group Corp., Toshiba Corp., TURTLE BEACH CORP., and Western Digital Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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