PC Accessories - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

PC Accessories - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The PC Accessories Market size is estimated at USD 27.580 billion in 2024, and is expected to reach USD 48.9 billion by 2029, growing at a CAGR of 12.13% during the forecast period (2024-2029). Increased use of computers in many companies to run their daily operations is one of the most important factors for market growth. Furthermore, the growing dependency on digitization, aided by changing lifestyles and technological inventions, is expected to enhance market growth significantly. Accordi. According to IBEF, in the Union Budget 2023-24, the IT and telecom sector allocation stood at INR 97,579.05 crore (USD 11.77 billion).

Key Highlights

• It is expected that the expansion of the market will be stimulated by an increasing number of PC users for recreational purposes, such as gaming. In 2025, there are expected to be 1,262,47 million households using computers according to the OECD's Economic Cooperation and Development Survey. Houses with at least one computer are referred to as computer households. Such a massive growth Market participants will have An opportunity to diversify their product portfolio, PC accessories as a result of the adoption of computers. They will also be able to better position themselves in different regions and gain a larger share of the market.
• The market is driven by better job prospects in IT and communications technology, which require the use of personal computers and mobile devices such as mice and keyboards. In wireless mice for the IT sector, breakthrough technology with a maximum battery life is increasingly being used. According to IBEF, India's IT and business services demand is projected to reach USD 19.93 billion by 2025.
• Wireless mice are rapidly becoming more and more popular, thanks to increasingly innovative features, such as RGB lighting and additional programmable buttons, being added to them by competitive gamers. Work places, homes or the entertainment sector are commonly made use of this Wireless Mouse. For example, in June 2023, Gaming peripheral company Razer launched a new line of gaming mice with the Cobra Pro, a premium-style wireless mouse, and the Cobra, an additional basic wired version that utilizes the same overall design. The Cobra sits alongside Razer's already-wide roster of gaming mice, such as the Viper, Deathadder, and Basilisk. However, this new mouse is intended to cover different preferences that the lineup didn't already offer while having the high-end features of its other top-of-the-line mice.
• Moreover, inflation significantly impacts the studied Market, as it can lead to higher costs for manufacturers. This can be due to various factors, such as higher prices for raw materials, increased shipping costs, and labor costs and shortages. As a result, manufacturers may be forced to raise their prices to maintain profitability, ultimately decreasing product demand.
• The work-from-home and study-from-home trends due to the COVID-19 pandemic have benefited the overall PCmarket, including laptops and desktop systems, with sales.

PC Accessories Market Trends

Emergence of Technologies such as AR, VR, and AI to Drive the Market

• The growing demand for personal computers and gaming accessories worldwide is a result of an increase in Internet connectivity, as well as the arrival of high speed broadband networks like 5G. According to SWZD, the information technology planned to be implemented in North American and European organisations, such as 5G technologies, 53%, and 37% of respondents stated that their firms planned to adopt virtual reality technology in 2023.
• Significant game console makers, such as Nintendo and Microsoft, have identified the potential of augmented reality and are leading the charge. The gaming business continuously evolves, with the latest technologies, such as augmented reality (AR), developed yearly. AR technologies have several usages in gaming, Enhancing the user experience and making new elements of play. The location of the deployment of AR technologies is another critical factor. In particular, the PC and Platform market is affected by virtual reality games. The Oculus and HTC devices dominate the PC market, while PSVR continues to be popular with Sony console players.
• Further, in October 2022, Micledi Microdisplays, a significant developer of microLED displays for augmented reality (AR) glasses, and Kura Technologies, one of the top global innovators in AR headsets, announced a collaboration to manufacture AR glasses. Kura designs the new glasses and incorporates MICLEDI's unique 300mm microLED displays to achieve the performance required for Kura's next generation of AR glasses. Such developments may further propel the studied market growth.
• Moreover, VR game creators encourage the wider populace to adopt virtual and augmented reality-based videogames, sometimes in headgear and motion tracking sets, to engage in an entirely realistic gaming experience. Further, in June 2023, Meta launched new Quest 3 virtual reality headgear with improved performance and slimmed design available at a starting price of USD 500.
• In order to keep up with the latest technologies, various key players in the gaming VR device industry constantly update their offers. There is also Sony's PlayStation VR device, which pushes the envelope. Sony announced that PS VR2 will be launched in November 2022 February 22, 2023. The PlayStation VR2 Sense controller charging station, specially developed for the PS VR2 Sense controller, is also anticipated to be available on the same day.

Asia Pacific is Expected to Hold the Significant Market Share

• The rising favor of virtual gaming has led to the evolution of PC gaming accessories. The growing popularity of e-sports and the extending number of gamers worldwide are anticipated to drive demand in the Asia-Pacific region. For instance, in June 2023, Indian gaming-focused venture capital (VC) fund Lumikai launched a USD 50 million fund, which includes investments from South Korea's Krafton (259960. KS) and Japan's Colopl (3668.T). Other investors in the fund include former Take-Two Interactive (TTWO.O) boss Ben Feder, music streaming service Napster's CEO Jon Vlassopulos, Finnish mobile game developer Supercell, and Japan's Mixi (2121.T).
• In addition, in November 2022, HyperX launched the Armada series of gaming monitors in India, including a 25-inch FHD and a 27-inch QHD monitor. The gaming monitor comes with an Armada desk mount and gaming mount made of metal with an Armada arm that supports monitors up to 32 inches and 20 pounds.
• China has a significant market share in global PC accessories over the forecast period due to its strong presence of central computer and equipment accessory manufacturers. As the IT sector grows and technology evolves constantly, there is expected to be a growing demand for PC accessories in this country.
• Everywhere in the world, there's a growing interest in online gaming. Technologically superior accessories like mouse, mechanical keyboard or headphones are needed to improve the performance of a user's gaming experience. The need for PC accessories will increase as a result. A set of customized PC accessories is manufactured by major players from this country in the field of Internet gaming. In the case of China, that aspect is expected to have a positive impact in expanding the PC accessories market.
• As a result of the increasing number of players and technological developments in recent years, gaming consoles are becoming more and more popular in Japan.. Further, in February 2023, Vi entered into e-sports in partnership with Gamerji. Partnering with e-sports start-up Gamerji, Vi, under the umbrella of Vi Games, launched an e-sports platform on the Vi App. Such developments may further drive the studied market growth.

PC Accessories Industry Overview

The PC accessories market is relatively fragmented due to the presence of various players. The key participants in the market are Razer Inc., Alienware (Dell), Logitech International SA, Turtle Beach Corporation. and Mad Catz Global Limited, among others. Players in the market are adopting strategies such as partnerships, mergers, innovations, and acquisitions to improve their product offerings and achieve sustainable competitive advantage.

• November 2022 - Razer announced the launch of the new Razer Naga V2 Pro and Naga V2 HyperSpeed, the latest in Razer's genre-busting MMO and battle-royale mice designed primarily for MMOs, with three interchangeable side plates on the Naga V2 Pro, and a wealth of new features in mice, the new Naga V2 Pro and Naga HyperSpeed signal the return of Razer's most adaptable mouse, now better than ever, focusing on the features that matter most to MMO players.
• August 2022 - Turtle Beach Corporation has announced the all-new Vulcan II mini optical mechanical keyboard for PC gaming. The Vulcan II Mini is the newest addition to ROCCAT's highly recommended range of Vulcan keyboards, and brings with it breakthrough features such as TITAN II optical switches and dual LED smart keys and improved .

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support