December 8, 2024
Mechanical Keyboard Market

Mechanical Keyboard Market is Expected to be Flourished by Increasing Gaming Industry Worldwide

The mechanical keyboard is a type of switch-based keyboard, where each key is operated by an independent mechanical switch. Mechanical keyboards provide a satisfying tactile feedback and audible click when pressed, as compared to a traditional membrane keyboard. This enhances the gaming and typing experience for users. Mechanical keyboards are widely adopted by professional gamers and typists owing to their durability and precision. Some of the popular mechanical switches include Cherry MX, Kailh, and Outemu switches, which are available in linear, tactile and clicky variations based on user preference. The growing gaming culture across the world has boosted demand for high-performance peripherals like mechanical keyboards. According to Newzoo, the global games market is estimated to reach US$227.2 billion in 2022, representing an increase of 9.3% year-over-year. Adoption of mechanical keyboards in gaming and eSports tournaments has further propelled their demand.

The global mechanical keyboard market is estimated to be valued at US$ 2434.37 Bn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics
Growing gaming industry worldwide: The gaming industry has witnessed robust growth over the past decade, driven by increasing internet and smartphone penetrations. According to Newzoo, global games revenues will surpass $200 billion for the first time in 2023 and climb to $225.7 billion in 2024. Emergence of eSports tournaments and players has further popularized mechanical keyboards among gaming enthusiasts. Manufacturers are launching keyboards specifically designed for gaming and eSports with features like programmable keys, detachable braided cables, and compact sizes.

Increasing adoption in offices: Many corporations and business process outsourcing companies are promoting e-desk culture and open office layouts. Mechanical keyboards are gaining popularity in such workplaces as they offer a comfortable yet productive typing experience over longer durations as compared to membrane keyboards. Availability of red switches devoid of any audible click enhances their suitability for office environments.

Key players in the mechanical keyboard market include Ducky Channel International Co. Ltd., Razer Inc., Vortexgear, Panasonic Corporation, Rapoo Corporation, SteelSeries ApS, iOne Electronic Co. Ltd., Corsair Components, Inc., and Das Keyboard among others.
Segment Analysis

The global mechanical keyboard market is dominated by the wired mechanical keyboard segment which holds around 65% share of the overall market. Wired mechanical keyboards offer better durability and reliability compared to wireless mechanical keyboards. Though wireless mechanical keyboards provide greater flexibility and mobility, the latency issues associated with wireless connectivity gives an advantage to wired keyboards, especially for gaming applications which require instant responsiveness.

PEST Analysis

Political: Mechanical keyboard market witnesses no significant political factors impacting growth. Countries are supportive of computer hardware industries.

Economic: Rising incomes and increasing spending power of consumers on computer peripherals is a key driver. During economic slowdowns, demand may decline as consumers prioritize essential spending.

Social: Younger population, keen on gaming and computer usage, forms a large customer base. Social media usage also contributes to increased time spent on digital devicesrequiring better input devices.

Technological: Advancements in wireless technologies may boost wireless keyboards uptake. But latency concerns ensure wired keyboards will continue dominating high performance tasks like gaming for foreseeable future. Durability of mechanical switches compared to regular keyboards also favors this market.

Key Takeaways

The global mechanical keyboard market is expected to witness high growth over the forecast period of 2024 to 2031 driven by increasing digitalization. Global Mechanical Keyboard Market Demand is estimated to be valued at US$ 2434.37 Bn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2024 to 2031.

The Asia Pacific region is expected to be the fastest growing as well as the dominating region in the global mechanical keyboard market over the forecast period. Younger populations in countries like China, India are driving significant demand.

Key players operating in the mechanical keyboard market are General Electric Company, SKF Group, Siemens Gamesa Renewable Energy, Inc., Vestas Wind Systems A/S, 3M Company.

Key players like Logitech G and Razer cater extensively to the gaming segment with specialized gaming keyboards featuring customizable backlighting, buttons and software. Meanwhile Corsair focuses more on the productivity segment targeting professional users with mechanical keyboards optimized for long usage sessions and durable constructions.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Money Singh
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

View all posts by Money Singh →