Computer Accessories Market Size to Grow by USD 4.28 Bn at a CAGR of 5.87%| Software segment is expected to witness lucrative growth | Technavio – PR Newswire
This market research report extensively covers Computer Accessories Market segmentations by the following:
- Product – External HDDs, gaming accessories, portable speakers, pointing devices, and others
- The external HDDs segment’s market share will expand significantly over the projection period, from 47.00 percent of the entire market in 2020 to 41.84 percent of the worldwide computer accessories market in 2025. The global computer accessories market’s greatest revenue contributor in this sector. The rise in external HDD sales is attributed to increased data usage and the requirement for backup in the event that a system’s internal HDD fails. This was the primary driver of the external HDDs segment’s growth in 2020.
- Geography – North America, APAC, Europe, South America, and MEA
- APAC will account for 51 percent of market growth. The primary markets for computer accessories in APAC are China, Japan, and South Korea (Republic of Korea). The market in this region will expand quicker than the market in other regions.
- The increase in shipment volume is owing to increased demand for PCs from both the consumer and commercial sectors, which would aid the expansion of the computer accessories market in APAC throughout the forecast period.
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Computer Accessories Market Dynamics
The growing popularity of e-sports is one of the primary reasons driving the computer accessories market. With the introduction of e-sports leagues, the gaming environment has changed dramatically. As more gamers turn to gaming as a job, purchasing gaming gear has become a need for many games. The E-sports league began as a way to turn video games’ entertainment value into a global sports craze.
Another important element driving the growth of the computer accessories market is replacement sales outnumbering new product sales, as well as a rising desire for assembly. Customers’ reasons for acquiring PC peripherals are changing, according to the computer accessories market. Customers are increasingly purchasing PC peripherals as replacements for their current systems rather than for first use. This market is rapidly expanding as customers replace their outdated peripherals with newer, more technologically advanced models.
One of the major obstacles to the computer accessories market’s growth is the declining demand for standalone devices and the rise of the smartphone and tablet markets. Smartphones and tablets are becoming increasingly popular because they offer nearly all of the features found on a computer. Smartphones and tablets make surfing the internet and viewing the web more convenient. As a result, non-business users prefer smartphones and tablets to PCs since they are more portable.
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Computer Accessories Market Scope