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A47375 | Pages: 400 | Charts: 74 | Tables: 220 |
The global gaming keyboard market size was valued at $2.4 billion in 2021, and is projected to reach $6.4 billion by 2031, growing at a CAGR of 10.6% from 2022 to 2031.
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A gaming keyboard is a computer keyboard that is specifically built for gamers. Mechanical and membrane switches are both available on gaming keyboards. The key switches on mechanical gaming keyboards need fewer strokes and result in quicker game action. There may also be user-configurable additional keys for macros (commonly used key sequences).
The key switch's speed is the most important factor. The "actuation distance" is the distance the key must be depressed to establish contact with the electrical circuit. The faster the key reacts, the shorter the distance. A conventional mechanical key has a 2-millimeter actuation point; however, other keyboards have a 0.4mm actuation point.
Over the previous decade, the gaming and esports businesses have grown enormously, giving rise to several esports championships throughout the world. Many corporations and companies have come forward and helped to form teams in different esports leagues to attract individuals in the field of electronic gaming. The emergence of esports competitions has increased awareness of electronic gaming and inspired young people to pursue gaming as a career. The gaming population has risen at a fair rate over the previous five years, with an average yearly increase of 17.6 million and a yearly growth of 5%. The growing gaming population has boosted sales of gaming accessories such as gaming keyboards and mice. Different gaming peripheral manufacturers are forming partnerships with esports leagues to advertise their products and raise customer knowledge about the specialty and features of their new gaming keyboards. The esports industry's rapid expansion is supporting the rise of the gaming keyboard market.
During the COVID-19 era, the government's lockdown worked to boost the online & offline gaming sector's market growth. Individuals from all around the globe have begun to invest in online and offline games, and the ratio of players has dramatically grown during the shutdown. During the outbreak, game developers such as Tencent, Sony, and others raised their sales threefold. Though the gaming business was flourishing, the gaming accessories sector was declining due to an interrupted logistics system and a shortage of personnel and raw materials. The gaming keyboard market had a drop in market growth during the early days of the pandemic until manufacturing concerns were resolved.
The gaming industry has a substantial impact on the economies of developing countries such as the U.S., Germany, the UK, China, Australia, and others. In the U.S., the gaming industry employs over two million people and produces millions of dollars in tax revenue. The government's efforts to promote the gaming industry are increasing individual participation and adding to the industry's market value. The governments of emerging nations, such as India, are incorporating Esports into traditional sporting disciplines. The government has urged the Ministry of Electronics and Information Technology and the Sports Ministry to include e-Sports in multi-sport events using the authority provided by clause (3) of Article 77 of the Constitution. The rising efforts of developing-country governments to support electronic gaming are expected to provide the gaming business with the potential to thrive at an exponential rate and produce a higher valuation.
A global shortage of semiconductors has hampered the supply of ubiquitous electronics such as gaming systems, game consoles, and technology-driven gaming consoles. As a result, the major gaming companies' production targets have been pushed back, and their release of new gadgets onto the market has resulted in a drop due to the lack of raw material availability in the market. Due to ongoing global semiconductor scarcity, obtaining a gaming system/computer, or high-end GPU from firms such as Nvidia or AMD may be impossible for months. Furthermore, the major gaming accessory manufacturers officially announced that they will reduce output by at minimum 10% over the following few years. The unavailability of gaming accessories in the global market is expected to hurt sales and cause a detrimental effect on gaming keyboard market demand.
The expansion of the gaming and esports markets over the last decade has been enormous, giving rise to many esports leagues throughout the world. Many corporations and companies have come forward and helped to form teams in different esports leagues to attract individuals in the field of electronic gaming. The rise in esports leagues has increased the awareness of electronic gaming and has encouraged the youth to take up gaming as their profession. In the last five years, the gaming population has grown at a reasonable rate, with an average annual rise of 17.6 million and an annual growth rate of 5%. The increase in the gaming population has fueled the sales of gaming peripherals such as gaming keyboards, mice, and others. Different gaming peripheral manufacturing companies are going for tie-ups with the esports leagues to promote their product and increase awareness among consumers about the specialization and characteristics of their new gaming keyboards. The increasing growth of the esports industry is fueling the gaming keyboard market growth.
Gaming devices and peripherals are specialized pieces of equipment that require advanced hardware, software, and drivers to function together to give sufficient performance levels. Market participants are attempting to supply high-quality gaming keyboards with optimal performance to users and include many features into the keyboards to give an excellent gaming experience. However, the addition of additional features tends to raise the product's production costs, which leads to a rise in the product's overall selling price. Consumers in underdeveloped countries who play video games for fun sometimes hesitate to invest large sums of money in expensive gaming equipment owing to the unpredictability of their gameplay durations and preferences. Furthermore, in places where there are no participants in the gaming keyboard industry, gaming keyboards must be imported from other parts of the world, raising the product's price even further. The price increase is impeding the market's expansion.
The gaming keyboard market is analyzed on the basis of product type, price point, distribution channel, and region. By product type, the market is classified into mechanical and membrane. By price point, the market is categorized into low-priced, medium-priced, and high-priced. By distribution channel, the market is segmented into supermarkets/hypermarkets, specialty stores, e-commerce, and independent retail stores. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, Italy, Spain, Russia, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, Argentina, and rest of LAMEA).
According to product type, the mechanical segment has gained a major share of the global market in 2021 and is expected to sustain its market share during the gaming keyboard market forecast period. Mechanical gaming keyboards have customizable switches with macro capabilities, allowing the user to tailor the operations of the buttons to their exact requirements. The mechanical keyboard is more durable than regular and membrane keyboards, allowing the user to utilize it forcefully in an intense gaming session. The mechanical keyboard has a long lifespan, resulting in its popularity among gamers. Modern-day gamers prefer to use a mechanical keyboard as it provides a unique experience and allows an anti-ghosting feature which assists in improving the gaming experience. Thus, manufacturing companies are aware of the preference of gamers and are launching different models of mechanical gaming keyboards which are increasing sales.
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According to gaming keyboard market analysis, on the basis of price point, the medium-priced segment has gained a major share of the global market in 2021 and is expected to sustain its market share during the forecast period. The medium-priced sector is the most popular among both customers and manufacturers. North America and Europe are the main markets for this sector due to customers' high spending power, the need for interactive gaming keyboards, and the growing gaming industry, which is raising the demand for mid-priced gaming keyboards. Moreover, the preference for high-quality mechanical gaming keyboards is driving the market for medium-price gaming keyboards in developed countries such as U.S., UK, Canada, Germany, and France. Individuals of the Asia-Pacific nations such as China and India are adopting gaming as a career which is increasing the demand and sales for quality medium-priced keyboards.
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According to gaming keyboard market trends, on the basis of distribution channel, the specialty stores segment has gained a major share of the global market in 2021 and is expected to sustain its market share during the forecast period. The main benefit of a specialty store is that it concentrates on various types of gaming accessories subcategories. Focusing on a single product line enables store owners and employees to demonstrate competence and recognition for expertise and variation in the business's chosen specialization. Customers who are unable to find the needed gaming keyboard at an independent retail establishment usually visit a specialty store, which offers a wider selection of things within its chosen expertise. Moreover, employees at specialty stores are familiar with the products available and provide insights to their customers for a better understanding. Such features of specialty stores entice customers, thus providing the gaming keyboard market opportunity for growth.
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By region, Asia-Pacific dominated the gaming keyboards market in 2021 and is expected to be dominant during the forecast period. Online competitive gaming and MMORPGs (Massively Multiplayer Online Role Playing Games) are extremely popular throughout the Asia-Pacific area, particularly in China, Japan, and South Korea. Since PC gaming is popular in the region, people choose wired gaming keyboards because they are less expensive and can be used with both PCs and consoles. With an increased inclination for high-quality products, manufacturers are offering keyboards with dual connection functions to enable hassle-free connectivity and a better gaming experience. Furthermore, an increase in the number of competitive gamers in the region is further leading to the proliferation of gaming keyboards in the region, as gaming keyboards can help in improving competitive performance due to the precise reaction time of the keyboard which assists in providing an edge in competitive gaming.
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Players operating in the global gaming keyboard industry have adopted various developmental strategies to expand their gaming keyboard market share, increase profitability, and remain competitive in the market. Key players profiled in this report include Ant Esports, ASUSTeK Computer Inc, Bloody, Corsair Gaming, Inc., Eastern Times Technology Co., Ltd, HP Inc., Lenovo Group Limited, Logitech International S.A., Mad Catz Global Limited, Mionix, Razer, Inc, Roccat GmbH, Sharkoon Technologies GmbH, Shenzhen Rapoo Technology Co., LTD, and SteelSeries.
Key Market Segments
Key Market Players