NEWARK, Del, Oct. 15, 2023 (GLOBE NEWSWIRE) -- According to FMI analysts, the mechanical keyboard industry will be worth US$ 1,462.3 million in 2023, and US$ 2,657.1 million in 2033. Between 2023 and 2033, the industry is expected to expand at a 6.2% CAGR.
Several devices can be connected to Bluetooth keyboards, including PCs, smartphones, laptops, smart TVs, media streaming devices, and even gaming devices. In addition to having on-board memory, premium keyboards allow users to customize their keyboard to work with a variety of computers and devices.
Manufacturers develop limited edition keyboard products by holding group sales or working with keyboard designers. Among keyboard enthusiasts, this is likely to generate interest and demand. In the long run, users will notice their productivity improving substantially with improved typing accuracy, enhanced visibility, and programmable keys.
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Increasing online business and demand for keyboard services are expected to increase demand in the coming years. With an increase in demand for mechanical keyboards, the industry will see a rise in demand for pre-owned keyboards.
The unique design and branding of mechanical keyboards make them appealing to some consumers. Social media advertisements and influences will lead to the high growth of these products. Keyboards with mechanical switches have also become popular in niche industries, such as among mechanical keyboard enthusiasts. Often, enthusiast keyboard builders construct their own custom-made mechanical keyboards, which creates a demand for parts and accessories that are specialized for mechanical keyboards.
Due to their slim design, low-profile mechanical components are becoming increasingly popular. A low-profile mechanical keyboard may become more popular in the future, attracting users who prefer a slimmer design. In order to improve performance and tactile feedback, manufacturers continued to develop new switch types. The next generation of mechanical switches may focus on minimizing noise, improving durability, or improving typing speed.
Key Takeaways from the Market Study
- Mechanical keyboard demand in the United Kingdom is predicted to increase at a CAGR of 5% from 2023 to 2033.
- Between 2023 and 2033, it is expected that wireless keyboards will hold a 40% share of the industry.
- A growth rate of 7.2% is projected for India between 2023 and 2033.
- Over the next few years, office applications are expected to have an industry share of 45%.
- A CAGR of 5.8% is forecast for the mechanical keyboard industry in South Korea by 2033.
“The growing interest in gaming among teenagers and the proliferation of gaming zones in various regions will likely increase the demand for mechanical keyboards. Increasing technological development and demand for self-manufacturing keyboards drive the demand," - opines Sudip Saha, managing director and MD at Future Market Insights (FMI) analyst.
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Competitive Landscape
A highly competitive environment has developed over the past century due to the dramatic increase in global demand for mechanical keyboards. By expanding and improving its services, the company will be able to better serve a competitive customer base.
Restraints
Despite the impressive growth, the Mechanical Keyboard market is not without its challenges. The market faces hurdles related to the ever-evolving technology landscape and the need to cater to the demands of an increasingly discerning customer base. However, the industry's proactive response to these challenges is expected to lead to further innovation and growth.
Region-wise Insights - Category-wise Insights
Region-wise, North America continues to dominate the Mechanical Keyboard market, accounting for a significant share of the global revenue. In terms of categories, gaming and professional mechanical keyboards are experiencing a surge in demand. Enthusiasts and professionals alike are seeking keyboards that offer precise feedback, durability, and customization options, making these categories the key growth segments within the industry.
Recent Developments Include
- In July 2023, Corsair, an American company that manufactures computer peripherals, announced it acquired Drop, which makes mechanical keyboards for Do It Yourself. Drop makes officially licensed materials like The Lord of the Rings keycaps and Marvel Infinity keychains.
- In July 2023, Oneplus and Keychron team up for a new durable mechanical keyboard.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global industry, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the mechanical keyboard business. The industry is segmented on the basis of Product (Non-Tactile Linear Switches, Tactile Non-Click Switches, and Tactile Click Switches) Connectivity (Wired Keyboards, Wireless Keyboards), Application (Gaming, Office/Industrial) and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East, and Africa).
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Segmentation Analysis of the Mechanical Keyboard Industry
By Product:
- Non-Tactile Linear Switches
- Tactile Non-Click Switches
- Tactile Click Switches
By Connectivity:
- Wired Keyboards
- Wireless Keyboards
By Application:
- Gaming
- Office/ Industrial
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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