Mechanical Keyboard Market is Anticipated to reach USD 4.39 billion, grow at a CAGR of 12.70% from 2023 to 2032
Research Reports
Aug 24, 2023
Mechanical Keyboard Market Insights:
In 2022, the mechanical keyboard market was estimated to be worth USD 1.5 billion. The mechanical keyboard market is anticipated to expand from USD 1.69 billion in 2023 to USD 4.39 billion by 2032, with a predicted CAGR of 12.70% over the forecast period (2023–2032). The primary market drivers accelerating market expansion are the burgeoning gaming industry, rising use of wireless keyboards, and rising demand for keyboards compatible with numerous platforms.
Key switches on mechanical keyboards can be changed without causing any disarray. Instead, they may be eliminated using a straightforward plastic tool, making the keyboard’s keycap replacement extremely simple. This is preferable for anyone who wants to test out several switch kinds without purchasing a brand-new one. Only a fresh pack of switches may be purchased by the client.
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Key Players:
- Logitech International SA.
- Shenzhen Rapoo Technology Co., Ltd.
- Roccat Studios Inc.
- Corsair Gaming, Inc.
- Razer Inc.
- DuckyChannel International Co., Ltd
- IONE Company Ltd.
- A4Tech Co., Ltd.
- Omron Corporation
- SteelSeries ApS,
are the notable vendors in the Mechanical Keyboard market.
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Mechanical Keyboard Market Regional Analysis:
The analysis offers market information for North America, Europe, Asia-Pacific, and the rest of the world, organised by region. Due to the fast-paced economic development of nations like the United States, Canada, and Mexico, as well as the continued adoption of cutting-edge technology like the Internet of Things (IoT) and a rising gaming population, the North American mechanical keyboard market will continue to dominate. Additionally, the US mechanical keyboard market had the biggest market share, while the fastest-growing market in the European region was the Canadian mechanical keyboard market.
Mechanical Keyboard Market Segmentation:
The tactile switches, clicky switches, and linear switches are part of the product type-based segmentation of the mechanical keyboard market. With 35% of market revenue ($0.59 billion) coming from the linear switches segment, the market was dominated by this group. Growing professional gaming demand for linear switches in developing nations is what propels category growth. These linear switches are preferred by gamers because they provide quicker and more precise control in games. However, clicky switches are the category with the quickest rate of growth since there is a growing need for better workplace equipment to accomplish monotonous activities.
Based on application, the mechanical keyboard market is segmented into commercial, residential, and professional gamers.
Because mechanical keyboards are more popular among gamers because they are stronger, faster, and more durable, the professional gamers group earned the greatest revenue (70.4%) over the projection period. However, due to the increase of small, medium, and big businesses, the commercial sector is the one that is growing the fastest.
Both wired and wireless mechanical keyboards are included in the technological segmentation of the mechanical keyboard market. The category that brought in the most money was wired mechanical keyboards. In general, wired keyboards are preferred by professional gamers since they are better suited for gaming.
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Further market revenue growth will be fueled by rising technology breakthroughs over traditional membrane keyboards. The mechanical keyboard enhances the keyboarding experience by having a longer lifespan and allowing for more working precision. This makes it more appropriate and economical because it enables quick switch repair or replacement. Mechanical keyboards are more effective than membrane keyboards because they are far more stable and responsive to key switches. Additionally, it is believed that creating exceptional games will enhance user adoption of mechanical keyboards and spur industry expansion.
To introduce novel products, major firms concentrate on research and development operations. For instance, Redragon introduced the FIZZ PRO K616 in February 2023. This tiny keyboard is 60% smaller than a standard keyboard, works with three different types of connectivity, and has hot-swappable mechanical soft keys designed specifically for FPS players in India. The new product is a wireless gaming keypad with RGB lighting. The newest mechanical keyboard from the company was created with gamers in mind.
One of the main factors propelling the expansion of the keyboard industry is the rising prevalence of gamers using keyboards for gaming. According to a survey conducted in the US by the NPD Group Company EEDAR, 67% of the population plays video games, totaling 211.2 million players across the country.
Every year, the number of gamers increases, and with the release of new games, the demand is likely to increase. This is projected to fuel the expansion of the mechanical keyboard industry. To entice gamers, the gaming keyboard’s keys are made to accommodate quick, simple, and repetitive typing. A full-size layout’s 104 keys offer a vast variety of possible inputs and mapping game activities across those easily accessible keys, giving players options in how they choose to control their knowledge. The option of using macros, a set of commands connected to a single input, is also available with keyboards. Therefore, it is anticipated that the growing popularity of gamers will fuel the mechanical keyboard market’s revenue.
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