Pc Accessories Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Pc Accessories Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The PC accessories market is expected to register a CAGR of 12.13% over the forecast period. One of the primary factors for the market's growth is the increased use of computers in many enterprises to manage their day-to-day operations. The growing acceptance of process automation across various end-user sectors will likely drive market growth during the forecast period. Furthermore, rising personal computer usage as a means of recreation, such as gaming, is expected to boost market expansion. Furthermore, the growing reliance on digitization, aided by changing lifestyles and technological innovation, is expected to enhance market growth significantly.

• According to the Organization for Economic Co-operation and Development survey, by 2025, the number of households with computers is expected to increase to 1,262.47 million. Homes with at least one computer are referred to as computer households. Such a massive increase in computer adoption will create an opportunity for market players to expand their PC accessories product portfolio. This will enable them to expand their presence in different regions and increase their market share.
• There is a growing trend toward wireless environments in the next generation of PCs and consoles due to the growth of wireless peripherals. Razer created a fleet of wireless flagships to do this. Razer HyperSpeed, tested and trusted by e-sports players worldwide, is integrated into Razer's premium e-sports headset and most popular video game keyboard.
• Increased employment in the Information and Communication Technology industry, which requires PCs and wireless devices such as mice and keyboards, is driving the market. Breakthrough technology with maximum battery power is increasingly used in wireless mice for IT-related industries. For example, in June 2021, the Swiss-based tech giant Logitech released their G PRO Wireless Gaming Mouse, the first product to have a new carbon impact badge, indicating that it reduces the carbon footprint that was harming the environment.
• Wireless mice are rapidly expanding as competitive-level gamers are seeing increasingly inventive features added to them, such as RGB lights and extra programmable buttons. This wireless mouse is commonly used in workplaces, homes, and the entertainment industry.
• The global semiconductor shortfall has disrupted the supply of everyday devices ranging from cellphones to game consoles to technologically dependent automobiles. This has caused significant gaming businesses to postpone their plans, and the release of gadgets into the market has resulted in a decline in demand for their associated peripherals.
• The PC market was in decline pre-COVID-19 due to the growth of mobile and macro computing, which is a significant factor. Consumers use PCs less and less in their daily lives as mobile phone and tablet competition increases. As a result of the COVID-19 outbreak, which shut down China, a significant hub for PC manufacturing, in the first few months of 2020, the sector experienced a more substantial decline. Sales fell further when PC manufacturing sites closed throughout the nation.

• Rising internet connectivity and the advent of high bandwidth network access, such as 5G, have contributed to increased demand for PC and gaming accessories globally. The popular information technology trend implemented or planned to be implemented in North American and European organizations like 5G technology is 55%, and 37% of respondents stated that their company either adopted or planned to adopt virtual reality technology in 2023.
• Major game console makers, such as Nintendo and Microsoft, have recognized the potential of augmented reality and are leading the charge. The gaming business is constantly evolving, with new technologies, such as augmented reality (AR), being developed each year. AR technologies have several uses in gaming, ranging from improving the user experience to developing new gameplay elements. Another critical factor is where AR technologies are deployed. VR games, in particular, are influencing the PC and platform markets. Oculus and HTC devices dominate the PC market, while PlayStation VR remains popular among Sony console players.
• One method is to use an augmented reality (AR) headset, such as the Oculus Rift or HTC Vive, which allows users to see and interact with virtual things in a real-world setting. Another option for playing AR games on your PC is to utilize an AR program such as Google Tango or ARKit. Top gaming industry manufacturers are releasing games with AR and VR capabilities. As a result of such complex games, there is a need for gaming accessories.
• Furthermore, fast-expanding technologies like virtual reality (VR) and artificial intelligence (AI) propel global market development. AR can take gamers out of 'their world' and put them into the real world to play. Human Pac-Man, for example, is a game that allows users to wear headgear and pursue one other in real life, exactly like the characters in Pac-Man. Such advancements assist in creating gaming and PC accessories to give players a better gaming experience.
• Moreover, VR game creators are encouraging the wider populace to adopt virtual and augmented reality-based videogames, which sometimes come in sets with headgear and motion tracking to engage in an entirely realistic gaming experience.
• Various key gaming VR device industry participants continuously update their offers to keep up with the latest technologies. For instance, in November 2022, DPVR, a prominent producer of virtual reality (VR) devices, announced the release of its latest PC VR gaming headset, the 'DPVR E4,' to dominate the market for connected PC VR headsets. Sony's PlayStation VR device is likewise pushing the envelope. Sony announced in November 2022 that PlayStation VR2 would be available on February 22, 2023. The PlayStation VR2 Sense controller charging station, which is mainly developed for the PS VR2 Sense controller, is also expected to be available on the same day.

• The rising popularity of virtual gaming in recent years has led to the growth of PC gaming accessories. The growing popularity of e-sports and the expanding number of gamers throughout the globe are expected to drive demand in the Asia-Pacific region.
• Due to the prevalence of central computer and computer accessory manufacturers, China has had a substantial share of the global PC accessories market throughout the forecast period. The country's demand for PC accessories is predicted to rise as the IT industry expands, driven by constantly evolving technology.
• Online gaming is becoming increasingly popular across the globe. To assist the user in performing better in online gaming, technologically advanced accessories such as a mouse, mechanical switch keyboards, and headphones are required. This will further raise the need for PC accessories. The country's significant players manufacture customized PC accessories for online gaming. This aspect is anticipated to considerably contribute to the expansion of the China PC accessories market.
• Gaming consoles are in high demand in Japan due to the growth in the number of gamers and technological developments in the last few years.
• During COVID-19, the gaming market has witnessed substantial growth due to the nationwide lockdown imposed, and people spend most of their time gaming. The rising popularity of e-sports is also one of the key factors propelling Japan's PC accessories market. The gaming landscape has evolved considerably with the introduction of e-sports leagues. Since many gamers turn to games as a career, owning gaming gear has become a requirement for many games, bolstering the market's development and expansion.
• South Korea is highly gaming-oriented, with large gaming centers distributed around the country, accounting for a substantial proportion of revenue. Furthermore, due to the focus on intense gaming experiences, gaming headsets have witnessed an increase in demand. With a focus on enhanced stereo sound, this segment will likely increase significantly among professional gamers.
• Furthermore, according to the Ministry of Science and ICT (South Korea), 93.6% of South Korean households with an income of more than 4 million had a desktop computer in 2021. As household income rises, the ownership rates also increase. This shows that more usage of PCs in the country is directly giving rise to the need for PC accessories, thereby driving the market.

The PC accessories market is moderately fragmented due to the presence of both global players and small and medium-sized enterprises. The key players in the market are Alienware (Dell), Logitech International SA, Razer Inc., Mad Catz Global Limited, and Turtle Beach Corporation, among others. Players in the market are adopting strategies such as partnerships, innovations, mergers, and acquisitions to enhance their product offerings and gain sustainable competitive advantage.

• August 2022: Turtle Beach Corporation revealed the all-new Vulcan II Mini Optical-Mechanical PC Gaming Keyboard. The latest addition to ROCCAT’s highly lauded range of Vulcan keyboards, the Vulcan II Mini furthers the brand’s keyboard evolution with groundbreaking features, including the world’s first Dual LED Smart Keys and improved TITAN II Optical Switches. At 65% the size of a standard keyboard, the Vulcan II Mini still retains the arrow keys and provides ample room for broad, sweeping mouse movements needed to win fast-paced games, making it an ideal addition to any PC gamer’s arsenal.
• June 2022: Razer’s Basilisk V3 and the DeathAdder achieve an ECOLOGO certification by Underwriters Laboratories (UL). The mice have passed UL2710, the Outline of Investigation for Sustainability for Portable Electronics, which certifies them as sustainable products, a tribute to the brand’s commitment to making greener products.

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