Gaming Keyboard Market Expected to Reach $6.4 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Gaming Keyboard Market," The gaming keyboard market size was valued at $2.4 billion in 2021, and is estimated to reach $6.4 billion by 2031, growing at a CAGR of 10.6% from 2022 to 2031.

A gaming keyboard is a specially designed computer keyboard with additional command keys that are 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.

Gaming has become one of the biggest forms of entertainment in the world in the last couple of decades. Many consumers, especially smaller children and teenagers are turning to the game as their primary source of fun and entertainment. Games like Fortnite, Minecraft, World of Warcraft, and Player Unknown’s Battlegrounds are becoming prominent in households across the world. Due to the rise of gaming as a trend, the sales of gaming accessories are going up, as the accessories help to improve skills and offer a unique experience. Gaming as content and media has become very popular in recent years. Many gamers, YouTubers, and streamers are actively engaged in creating content based on gaming which requires high-quality game accessories such as gaming keyboards and gaming mice. Furthermore, many of these content creators and entrepreneurs have come together to create organizations called e-sports organizations that are solely dedicated to gaming. This has led to a severe increase in the number of people that are entering into gaming content creation and e-sports, which has led to an increase in the sales of gaming keyboards. The increasing participation in gaming and the growth of electronic sports league is boosting the gaming keyboard market growth.

The gaming accessories business is very competitive and so fragmented. Trade restrictions, severe competition, and an increase in demand for low-cost products stifle the growth of the gaming keyboard industry and lead product quality to deteriorate. Small-scale business owners join the market and employ low-quality raw materials to achieve high profitability for themselves owing to considerable fluctuation in raw material costs.

On the contrary, recognized brand items are exorbitantly priced, and buyers are eager to find low-cost alternatives. This market need for low-cost items from a reputable brand lends credence to counterfeit items. In recent years, counterfeit items have thoroughly permeated the market, impeding the operations of well-known businesses. Furthermore, clients in poor nations have minimal product expertise, therefore they choose to settle with market items marketed as alternatives to gaming keyboards. The decline in product quality and the widespread availability of counterfeit items impede the expansion of the global gaming keyboard industry.

The gaming keyboard market is analyzed based on 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).

Players operating in the global gaming keyboard market 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 findings of the study

• According to gaming keyboard market trends, on the basis of product type, the mechanical segment dominated the gaming keyboard industry in 2021 and is expected to retain its dominance throughout the forecast period. The dominance is due to the external features offered by the mechanical keyboards such as macro keys for additional commands, this assists the gamers to improve their game.
• By price point, the medium-priced segment led the global gaming keyboard market demand in 2021 and is expected to retain its dominance throughout the forecast period.
• According to gaming keyboard market analysis, on the basis of distribution channels, the specialty stores segment dominated the global market in 2021 and is expected to retain its dominance throughout the gaming keyboard market forecast period. Specialty stores offer exclusive gaming accessories that are not available in the rest of the sales channels.
• Region-wise, Asia-Pacific accounted for the highest gaming keyboard market share in 2021 and is expected to grow at a CAGR of 11.9%.