Mechanical Keyboard Market is Estimated to Witness High Growth Owing to Expanding E-sports Industry12/26/2023 The mechanical keyboard market has witnessed significant growth in recent years on account of various advantages offered by mechanical keyboards such as durability, user-friendliness, and enhanced gaming experience. Mechanical keyboards deliver tactile and audible feedback during keystrokes and come equipped with gold-crosspoint switches. They offer smooth, precise, and consistent typing. Mechanical keyboards are extensively utilized across industries such as gaming, media & entertainment, and corporate offices due to their ergonomic design and sturdy build quality.
The global mechanical keyboard market is estimated to be valued at US$ 2,113.16 million in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Market Opportunity: The expanding e-sports industry has emerged as a major growth opportunity for mechanical keyboard manufacturers. E-sports refer to organized video game competitions played by professional players and amateurs across the world. E-sports popularity has surged significantly in recent years driven by growth in streaming platforms and increase in prize money for e-sports tournaments. Mechanical keyboards are highly preferred among e-sports players and enthusiasts as they enhance gaming accuracy and experience. Manufacturers are actively targeting the e-sports segment with specialized mechanical keyboards featuring anti-ghosting capabilities and adjustable actuation points tailored for gaming requirements. The rising popularity of e-sports is expected to drive significant demand for high-performance mechanical keyboards, thereby propelling the overall market growth over the forecast period. Porter’s Analysis Threat of new entrants: Low-moderate due to capital requirement for manufacturing units and establishing distribution channel. The industry has few major player with strong brand presence. Bargaining power of buyers: High to moderate as buyers have variety of options from key players. Buyers can switch to alternatives if quality or pricing is not met. Bargaining power of suppliers: Moderate as raw materials are available but suppliers have limited number. Switching cost is low for buyers. Threat of new substitutes: Low as mechanical keyboard has no close substitute and known for its durability and reliability. Competitive rivalry: High among key players to increase market share and brand presence in different price segment and regions. Players differentiate through innovation, quality, and personalized customization. SWOT Analysis Strength: Strong brand presence of key players with trust on quality, Durability and reliability makes it preferred of gamers and programmers. Weakness: Higher pricing than regular keyboards limits mass appeal. Require maintenance to replace components. Opportunity: Scope for customization and personalization of keys, size, placements attracts niche users. Adoption in corporate offices and government sectors. Threats: Alternatives like notebook keyboards restricts growth in mobile sector. Availability of low quality variants from smaller manufacturers hurts brand image. Key Takeaways The Global Mechanical Keyboard Market Size is expected to witness high growth over the forecast period. The global mechanical keyboard market is estimated to be valued at US$ 2113.16 Mn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030. Regional analysis: North America accounted for over 35% of global mechanical keyboard market share in 2023 owing to strong demand for gaming keyboards driven by gaming industry and community in countries like US and Canada. Presence of major players and strong distribution network benefits regional growth. Asia Pacific has emerged as promising region for mechanical keyboard market companies. Countries like China, South Korea and Taiwan are fastest growing markets attributed to increasing popularity of esports. Countries like India and Southeast Asian countries are expected to offer new growth avenues for companies amid rising youth interest in gaming. Key players: Key players operating in the mechanical keyboard market are Logitech, Corsair, SteelSeries, Razer, HyperX, Cooler Master, and Ducky. Logitech is the global leader with wide range of offerings across price points catering diverse set of customers. Logitech introduced option configurable keyboards for customizing inputs specific needs of gamers. Get more insights on this topic: https://www.rapidwebwire.com/mechanical-keyboard-market-size-trends/
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