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The Keyboard Market size is estimated to grow at a CAGR of 6.14% between 2022 and 2027. The market size is forecast to increase by USD 1,243.95 million. The growth of the market depends on several factors, including the rising popularity of e-sports, the growing adoption of PCs and peripherals in the education sector, and growth in the e-commerce industry. A keyboard is a primary input and peripheral device that is used with a computer to input text, characters, and other commands into a computer or similar device. It is composed of buttons that are assigned specific letters, numbers, symbols, and additional functions, which are used for typing on the computer screen. A keyboard may be connected wirelessly or wired. By application, it can be categorized into corporate, personal, and gaming.
This keyboard market report extensively covers market segmentation by technology (wired keyboard and wireless keyboard), application (corporate, personal, and gaming), and geography (North America, APAC, Europe, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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One of the key factors driving the keyboard market growth is the growth in the e-commerce industry. There is an increasing adoption of e-commerce platforms among people due to their convenience, security, and time efficiency as well as the rising penetration of the Internet and smartphones. Amazon.com, ALIBABA GROUP, and eBay are some of the popular e-commerce platforms among millennials.
Moreover, the increasing preference for this e-commerce platform is due to its various discounts and detailed descriptions of the product features provided on its online portals. Factors such as a rise in the penetration of the Internet, an increase in customers' trust in online retailing, and the availability of quick shipping are positively impacting the market growth. Hence, such factors are expected to drive the keyboard market growth during the forecast period.
A key factor shaping the keyboard market growth is the growing adoption of gaming consoles. The gaming consoles can be referred to as computer devices that are connected to a display device for video signals or visual image output for playing games. Several new technological advancements such as touch controls, voice recognition, and gesture control are continuously implemented into the consoles.
Additionally, there is increasing popularity for gaming consoles due to the rise in popularity of e-sports. Some of the other gaming options which are available for casual gamers include OUYA, PlayStation Vita TV, Amazons Fire TV, as well as Apple TV. Hence, the increasing demand for gaming consoles will positively impact the market growth. Hence, such factors are expected to drive market growth during the forecast period.
The availability of counterfeit products is one of the key challenges hindering the keyboard market growth. There is an increasing demand for counterfeit products among consumers price-sensitive end-users and those unaware of branded products as they are cheap, attractive, and similar copies of big brands. Hence, the presence of such cheap counterfeit products results in price wars in the market.
Furthermore, there is an increasing availability of these counterfeit products through every distribution channel, including physical and online retail stores in each country despite several efforts by companies and other stakeholders to restrict the sale of these products. Therefore, it is negatively impacting the market growth. hence, such factors are expected to hinder the market growth during the forecast period.
The wired keyboard segment is estimated to witness significant growth during the forecast period. Factors such as the rising adoption of personal computers (PCs) and their increased applications in the education and government sectors are significantly contributing to the growth of this segment. Additionally, the rising e-sports market is also fuelling the adoption of keyboards. Several market players are collaborating with e-sports organizations to offer gaming peripherals such as keyboards, mice, and mouse pads.
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The wired keyboard segment was the largest segment and was valued at USD 1,832.64 million in 2017. Even though there is increasing adoption of keyboards across sectors, factors such as the requirement for a unique type of cable and connectors, the maintenance of complex wiring, and the expanding wired system are expected to limit its adoption. As a result, there is an increasing preference for the wireless keyboard segment among end-users. Several market players are offering more wireless keyboards in the market with the advent of technologies such as Bluetooth and Wi-Fi. Wired keyboards are widely used by corporate companies, for personal use, and for playing e-sports, but the advent of wireless keyboards and their adoption across various applications can negatively impact the growth of this segment. Hence, this segment is expected to have moderate growth in the global keyboard market during the forecast period.
The increasing adoption of keyboards by the corporate segment for internal and external communications increases market growth. Several corporate companies use keyboards for various modes of communication such as messenger systems, email, word processing, and others. Additionally, these keyboards are used as a tool to chat with colleagues across the world by leveraging different messenger tools or video conferencing software. Some of the other applications of keyboards in the corporate segment include managing and maintaining accounts and personal data, administering projects, creating presentations, and other applications. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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North America is estimated to contribute 39% 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. The increasing adoption of technology in countries such as the US and Canada is contributing to the global keyboard market growth in North America. Additionally, there presence of several prominent market players in the region such as Microsoft, HP, and Dell are also positively impacting the market growth. These market players have a dominant share in the market due to their large-scale innovative marketing campaigns.
Furthermore, other factors such as early adoption of technology, increasing demand for consumer electronics, rising internet penetration, and data traffic are expected to fuel the adoption of keyboards in the region. Hence, the increasing adoption of keyboards across various sectors in North America such as manufacturing, hospitality, IT, and others is expected to fuel the growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global keyboard market witnessed a significant slowdown due to the temporary shutdown of manufacturing units and a decline in demand for non-essential products in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of operations in all the industrial and manufacturing units. Such factors are expected to drive the market during the forecast period
The keyboard market industry 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 Keyboard 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.
A4TECH: The company offers keyboards such as Bluetooth and wireless keyboards, illuminate, slim, and traditional keyboards
ASUSTeK Computer Inc: The company offers keyboards such as rog gaming keyboards, tuf Gaming keyboards, and asus safaris gk1100 gaming keyboards.
Cooler Master Technology Inc: The company offers keyboards such as Sakura limited keyboards, mechanical switch keyboards, and gaming keyboards.
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 keyboard market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Keyboard Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.14% |
Market growth 2023-2027 |
USD 1,243.95 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.21 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 39% |
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., Cooler Master Technology Inc., Dell Technologies Inc., EPOMAKER, GN Store Nord AS, HP Inc., Keetronics India Pvt. Ltd., Kinesis Corp., Lenovo Group Ltd., Logitech International SA, Metadot Corp., Panasonic Holdings Corp., Rapoo Europe BV, Razer Inc., Shenzhen Riitek Technology Co. Ltd., Targus Asia Pacific Ltd., Xiaomi Communications Co. Ltd., Fujitsu Ltd., and Microsoft 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 Technology
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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