Computer Peripherals Market Size, Share, Growth, And Industry Analysis By Type (Input Devices, Output Devices, Storage Devices, Others, and Computer Peripherals) By Application (Residential and Commercial) and Regional Forecast By 2031

Updated On: 15 April 2024

Computer Peripherals Market Report Overview

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The global computer peripherals market size was USD 13220 million in 2022, as per our research, the market is expected to reach USD 20676.26 million by 2031, exhibiting a CAGR of 5.3% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the computer peripherals market growth and demand returning to pre-pandemic levels once the pandemic is over. 

There is a tonne of alternatives on the market when it comes to computer accessories. They range from keyboards and mice to printers and scanners, crucial to improving our computing experience. Due to the rising need for cutting-edge and new technologies, the industry has experienced phenomenal expansion in recent years. A keyboard is one of the most often used computer accessories. It is an input tool that enables users to enter text and data and carry out different tasks on a computer. The mouse, which is used to move around the computer screen and choose different choices, is another common device.

Some crucial accessories extensively utilized in homes and workplaces include printers and scanners. Although scanners assist in scanning actual documents and photos, printers enable users to create hard copies of documents. Webcams, speakers, headphones, and microphones are additional peripherals for video conferencing, gaming, and audio-related jobs. The market is always developing, and producers constantly bring new, cutting-edge goods to meet shifting consumer wants. The demand is anticipated to increase in the upcoming years due to the growing acceptance of digital technology. Whether a frequent user or a professional, upgrading your computer peripherals will greatly enhance your computing experience.

COVID-19 Impact: Remote Work And Distance Learning Accelerated The Market Growth

The COVID-19 epidemic has profoundly affected many global businesses, and the market is no exception. Demand has increased as remote work and online learning have become the new standard due to the pandemic. Due to the unexpected increase in people working remotely, people have started buying computer accessories, including cameras, headphones, and microphones. Since consumers spend more time at home, the gaming business has also seen a major increase in demand for gaming accessories like keyboards, mice, and controllers. Nevertheless, the pandemic’s effects on the supply chain have resulted in a shortage of computer peripherals, which has driven up costs and slowed delivery. Notwithstanding these obstacles, the market is anticipated to expand as remote work and distant learning become more common.

Latest Trends

"The Rise Of Wireless Peripherals Boosts the Market Expansion"

The market is continually changing as new and cutting-edge items are released yearly. The development of wireless peripherals is one of the most recent advancements in this area. The days of tangled connections and disorganized workplace arrangements are long gone. Users may benefit from a clutter-free workstation and more freedom with wireless keyboards, mice, and other accessories. Another development is using LED lighting in peripherals, which offers aesthetic appeal and useful advantages like better vision in dim light. Also, manufacturers prioritize user comfort and health by using ergonomic designs, which are growing in popularity. The user experience and increasing productivity are the main goals of the most recent developments in computer peripherals.

Computer Peripherals Market Segmentation

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• By Type Analysis

The computer peripherals market can be segmented into input devices, output devices, storage devices, others, and computer peripherals. Among these, the input devices are projected to experience rapid growth through 2028.

• By Application Analysis

The market can be divided based on application into residential and commercial. The residential is expected to hold the most significant computer peripherals market share in the upcoming years.

Driving Factors

"The Rapid Expansion Of E-Commerce Propels the Market Expansion"

Due to a rise in demand for cutting-edge computing equipment, the industry has seen extraordinary expansion in recent years. The demand for computer peripherals has surged as technology is being used more widely at work and home, which is anticipated to last for the foreseeable future. This industry has grown due to several important causes, including  The quick rise of e-commerce is one of the key factors fueling growth. Consumers can now purchase computer peripherals more easily than ever, thanks to online stores like Amazon, Newegg, and Best Buy, which have boosted competition and lowered prices. Also, buyers may identify the precise peripherals they want more easily because of the broader selection of items offered by online stores.

"Increasing Adoption Of Cloud Computing Fuel the Market Growth"

The market is also expanding due to the rising popularity of cloud computing. There is an increasing need for peripherals like printers, scanners, and storage devices that can interact with cloud-based systems as more and more firms migrate their operations to the cloud. Due to this, the need for peripherals that can operate smoothly with cloud-based software has increased. Lastly, the market is expanding as a result of the rising popularity of gaming. Gamers are ready to spend a premium on high-end accessories that can offer them a competitive edge, and gaming peripherals like mouse, keyboards, and headphones have become The need for gaming accessories will increase along with the gaming industry, making this a lucrative sector for both makers and merchants.

Restraining Factors

"The Constant Influx Of New Technologies And The Market Is Highly Competitive, With Numerous Players Vying For Customers’ Attention, Hinders the Market Growth"

The industry has difficulties in one of the world’s most valuable sectors. The steady infusion of new technology is one of the most important restraints on the industry. As users become accustomed to one technology, a new, more sophisticated one is released. Companies in the computer peripherals market find it challenging to stay up with the newest trends and technologies due to the quick speed of invention. Also, many businesses are fighting for customers’ attention in this highly competitive sector. This might make it challenging for new competitors to enter the industry and establish a footing. Lastly, the market may be impacted by the state of the economy. Consumers may be less willing to invest in new technology during economic downturns, which might lead to fewer sales for businesses in the sector. The market is still growing and interesting to be a part of despite these difficulties.

Computer Peripherals Market Regional Insights

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"North America to Dominate Market Due to The Rapid Expansion Of E-Commerce"

Between 2022 and 2028, the computer peripherals market will be dominated by North America. Factors driving the market growth in this region include the rapid expansion of e-commerce.

Additionally, the market is anticipated to experience the fastest growth in European and Asian countries (India, China, Japan, and South East Asia). The increasing adoption of cloud computing fuels market expansion.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Apple (U.S.)
• Canon (Japan)
• Dell (U.S.)
• Seiko Epson (Japan)
• Hewlett-Packard Enterprise (U.S.)
• Hitachi (Japan)
• IBM (U.S.)
• Intel (U.S.)
• Logitech (U.S.)
• Microsoft (U.S.)
• NEC (Japan)
• Ricoh (Japan)
• Samsung Electronics (Japan)
• Toshiba (Japan)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.