Keyboard Market to Grow by USD 1.23 Billion (2024-2028) Driven by E-Sports Boom, AI Enhanced Market Report- Technavio

NEW YORK, Sept. 19, 2024 /PRNewswire/ -- Report on how AI is driving market transformation- The global keyboard market  size is estimated to grow by USD 1.23 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 5.79%  during the forecast period.  Rising popularity of e-sports is driving market growth, with a trend towards increase in product innovations. However, availability of counterfeit products  poses a challenge. Key market players include A4TECH, ASUSTeK Computer Inc., Cooler Master Technology Inc., Dell Technologies Inc., EPOMAKER, Fujitsu Ltd., GN Store Nord AS, HP Inc., Keetronics India Pvt. Ltd., Kinesis Corp., Lenovo Group Ltd., Logitech International SA, Metadot Corp., Microsoft Corp., Panasonic Holdings Corp., Rapoo Europe BV, Razer Inc., Shenzhen Riitek Technology Co. Ltd., Targus Asia Pacific Ltd., and Xiaomi Communications Co. Ltd..

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Key Market Trends Fueling Growth

The global keyboard market has seen significant advancements in technology and product innovation. Initially, keyboards were primarily used with personal computers. However, the gaming industry's technological progression has led to an increased demand for high-quality peripherals, such as keyboards. Gaming keyboards offer features like backlighting options, including mono color and full RGB. Keyboards come in two main types: membrane and mechanical. Mechanical keyboards, which use switches to send typing signals, offer longer durability due to the absence of a membrane. Gaming keyboards cater to various budgets. Membrane keyboards are the most affordable, while mechanical keyboards with monocolored backlighting and a full range of keys fall within the mid-price range. High-end gaming keyboards, featuring full RGB backlighting and numerous macro keys, are preferred by professional gamers and are more expensive. Innovations in keyboard technology continue to enhance the gaming experience, contributing to the market's growth. 

Keyboards have seen significant improvements in technology, catering to various industries and user needs. Conventional membrane keyboards have given way to mechanical keyboards with clicky switches, offering better response time and tactile feedback. Mechanical keyboard technology includes linear and tactile switches, with Cherry Stream being a popular choice. Bluetooth and RF connectivity enable multiple platform compatibility. Artificial neural networks and cognitive computing are integrated into keyboards for pattern recognition and language modeling. Ergonomic keyboards and medical keyboards prioritize user comfort, while gamers prefer mechanical keyboards with RGB illumination and low response time. The gaming industry's growth fuels the demand for mechanical keyboards and RGB illumination. Commercial enterprises and corporate offices also invest in digitalization, adopting ergonomic and efficient input devices like mechanical keyboards. Optical keyboards and speech-to-text converters further enhance productivity. Infrared and RFID technology add stability and security to keyboards. Keycaps with customizable designs cater to personal preferences. ML (Machine Learning) and statistical analysis enable customized user experiences. Plastic tools and improvements in key switch technology ensure durability and longevity. 

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Market Challenges

• The keyboard market is currently facing a significant challenge from the prevalence of counterfeit keyboards in local markets. Many consumers, particularly price-sensitive ones and those unaware of branded products, are drawn to these imitations due to their affordability and resemblance to well-known brands. This trend is leading to price competition in the market, making it difficult for manufacturers to maintain their profit margins. Despite efforts to curb the sale of counterfeit keyboards, their accessibility through various distribution channels, both physical and online, persists. This situation is shrinking the potential market for genuine keyboards, posing a threat to the growth of the global keyboard market.
• The keyboard market is thriving in the IT sector, with advancements in technology significantly impacting input devices. Gaming industry professionals and individual users seek improved keyboards for enhanced performance. Keyboard technology includes mechanical, membrane, optical, and wireless options. Mechanical keyboards offer tactile switches, customizable keycaps, and RGB illumination. Gaming keyboards often feature low response time, multiple platform compatibility, and RGB illumination. Infrared and RFID technology enable wireless connectivity. Membrane keyboards provide stability for residential use. Improvements include key switches, keycap materials, and ergonomic designs. Professionals, including medical professionals, benefit from speech-to-text converters and voice recognition technology. Machine Learning (ML) and Natural Language Processing (NLP) enhance pattern recognition and statistical analysis. Keyboards with linear switches cater to those preferring a quieter typing experience. Wired mechanical keyboards offer stability and reliability, while wireless mechanical keyboards and wireless peripherals provide freedom of movement. Tenkeyless (TKL) keyboards and vertical keyboards cater to those with limited desk space. Optical and RF keyboards offer faster response times compared to traditional membrane keyboards. Overall, the keyboard market continues to evolve, catering to diverse user needs and preferences.

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Segment Overview 

This keyboard market report extensively covers market segmentation by

1. Technology 
• 1.1 Wired keyboard
• 1.2 Wireless keyboard
2. Application 
• 2.1 Corporate
• 2.2 Personal
• 2.3 Gaming
3. Geography 
• 3.1 North America
• 3.2 APAC
• 3.3 Europe
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Wired keyboard-  The keyboard market is a significant segment of the computer peripherals industry. Keyboards come in various types, including mechanical, membrane, and ergonomic. Businesses prioritize keyboards for their employees to ensure productivity and comfort. Dell, Logitech, and Microsoft are key players in this market, offering a range of options to cater to diverse user needs. Prices vary based on features such as backlighting, programmable keys, and durability. Companies invest in high-quality keyboards to enhance their employees' work experience and efficiency.

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Research Analysis

Keyboards are essential peripherals for computers and other digital devices, catering to the needs of both professional individuals and corporations in the IT sector. Mechanical keyboards offer tactile feedback and durability, while membrane keyboards provide a quieter typing experience. Optical keyboards use light to detect keystrokes, and Tenkeyless (TKL) keyboards save desk space by omitting the numeric keypad. Digitalization has led to the rise of wireless peripherals, including keyboards using Radio Frequency (RF), Infrared, and Bluetooth technologies. These keyboards offer freedom from cords, making them ideal for corporate/enterprise settings and the gaming industry. Multiple platform-compatible keyboards cater to users with devices running different operating systems. Key switches, made from plastic tools, determine the feel of the keystrokes, and keycaps can be customized for personal preferences. Keyboards continue to evolve, with advancements in technology like ML (Machine Learning) and gaming-specific features enhancing user experience. Conventional membrane keyboards remain popular for their affordability and ease of use.

Market Research Overview

Keyboards have evolved significantly over the years, with advancements in technology leading to innovations that cater to various user needs. Artificial neural networks and cognitive computing have been integrated into keyboards, enabling pattern recognition and language modeling for improved user experience. Bluetooth and RF technology have made wireless keyboards and peripherals a popular choice for both residential and commercial use, including the gaming industry and corporate/enterprises. Improvements in keyboards include ergonomic designs, mechanical keyboard technology with clicky, linear, and tactile switches, and RGB illumination. Optical and infrared keyboards offer faster response times compared to conventional membrane keyboards. Professional gamers and individuals prefer mechanical keyboards for their stability and improved accuracy, while medical professionals benefit from ergonomic and vertical keyboards for injury prevention. Multiple platform-compatible keyboards and speech-to-text converters cater to the digitalization trend in the IT sector. Wireless gaming keypads and wireless mechanical keyboards provide freedom of movement for professional gamers. Keycaps made of plastic tools and RGB illumination add to the aesthetic appeal of these input devices. RFID technology and voice recognition technology are also integrated into some keyboards for added functionality. Overall, the market for keyboards continues to grow as digitalization and the need for efficient input devices expand.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Technology
• Wired Keyboard
• Wireless Keyboard
• Application
• Corporate
• Personal
• Gaming
• Geography
• North America
• APAC
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio