Laptop Accessories Market Size, Share & Trends Analysis Report By Type (Electronic, Non-electronic), By End-use (Personal, Commercial), By Distribution Channel (Offline, E-commerce), And Segment Forecasts, 2023 - 2030

Laptop Accessories Market Size, Share & Trends Analysis Report By Type (Electronic, Non-electronic), By End-use (Personal, Commercial), By Distribution Channel (Offline, E-commerce), And Segment Forecasts, 2023 - 2030

Laptop Accessories Market Growth & Trends

The global laptop accessories market size was valued at USD 65.63 billion in 2030, registering a CAGR of 6.3% from 2023 to 2030, according to a new report by Grand View Research, Inc. The demand for laptop accessories is primarily driven by the growing popularity of e-sports and the adoption of process automation in industries. Personal computer sales were predicted to decrease ten years ago, but it has only recently witnessed their first significant increase in a decade. In 2021, according to a market research firm, Canalys, PC shipments reached 297 million units in 2020, up 11% from 2019. IDC estimates 302 million shipments for the year, up 13.1% year over year. Booming sales of laptops are boosting the demand for accessories.

Improving fashion trends, rising disposable income, and changing consumer lifestyles & preferences are expected to boost the industry growth. The pandemic prompted lockdowns around the world, starting from the first quarter of 2020. The work-from-home and study-from-home trends due to the COVID-19 pandemic have benefited the overall personal computer market, including laptops and desktop systems, with sales exceeding 302 million in 2020, a 13% increase from the year before and the most since 2014. This bodes well for the sales of various laptop accessories. As per the Canlys Research study, the PC market growth accelerated in the last quarter of 2020, as shipments of desktops, notebooks and workstations increased by 25% from a year ago to reach a record 90.3 million units.

The global PC market growth in 2020 was singlehandedly driven by notebooks and mobile workstations. Shipments of these devices increased by 25% from 2019 to 235.1 million units. Therefore, the significant growth in the PC industry during the COVID-19 pandemic further augmented the industry growth. An increase in the shipments of personal computers, including notebooks and other laptops during the COVID-19 pandemic, further increased the demand for the laptop accessories, such as mouse, keyboards, and others, and contributed to market growth. The electronic type segment accounted for the largest revenue share in 2022 and is expected to witness significant growth in the near future.

Demand for laptops has increased as lockdown restrictions were eased owing to the increased need for work-from-home and the push for online learning. Increased searches for new and reconditioned devices have been observed on e-commerce platforms. This increase in demand for laptops is boosting the demand for electronic accessories, such as wireless keyboards and mouse. Businesses have added more equipment to their office infrastructure because of laptops’ non-portable capabilities and functionalities. The offline segment dominated the industry in 2022. This is mainly because a large section of consumers still prefers the physical shopping of electronic appliances. As a result, an increase in the number of retail establishments is predicted to improve product sales through offline channels, particularly in growing nations, such as India, China, and Brazil.

Increased product visibility and a strong presence of large international firms in expanding APAC countries through newly established strategic business units are likely to support the segment growth throughout the forecast period. Asia Pacific accounted for the largest revenue share in 2022. In Asia Pacific, the primary markets for laptop accessories are China, Japan, and South Korea (Republic of Korea). Rapid industrialization is also contributing to the growth of consumer electronics in the region. Companies focus on product innovations to meet the rising product demand and to set trends. Strategic initiatives, such as mergers and acquisitions, help the key players gain a foothold in developing economies.

Laptop Accessories Market Report Highlights

• The demand for laptops has increased as lockdown restrictions were eased owing to the increased need for work-from-home and the push for online learning
• The commercial segment is expected to register the highest CAGR during the forecast period
• The increasing demand for laptop accessories, such as webcams, speakers, and pointing devices, from the business sector, is expected to favor the growth of the commercial segment
• Asia Pacific is estimated to register the fastest CAGR from 2023 to 2030 due to the presence of the primary markets for laptop accessories, such as China and Japan
• Since the laptop accessories industry is fragmented, vendors are employing growth methods, such as offering additional perks to customers, to acquire a competitive advantage