ID: MRFR/SEM/0708-CR | February 2020 | Region: Global | 101 pages
Market Research Future (MRFR) presumes the Global Mechanical Keyboard Market size to reach USD 1,361.8 Million with a CAGR of 12.1% from 2017 to 2023 (forecast period). The mechanical-switch keyboard provides tactile feedback that provides an individual, superior typing experience. Mechanical keyboards are longer in life, but they are bulky, loud, and expensive. Mechanical keyboards are available in three different types of switches, i.e., tactile, linear, and clicky. Each of these consists of its switch—with a base, a spring, and a stem. In addition, it also offers replaceable keycaps that give individuals the 'do it yourself' (DIY) feature to assemble their keyboards.
The industry is expected to suffer a moderate slowdown due to the worldwide outbreak of a novel coronavirus pandemic. Manufacturing operations are at a standstill because of labor shortages. This led to a significant decrease in demand from the end-use industries.
Advancement in technology over traditional membrane keyboard
The mechanical keyboard provides longer key life and also allows the accuracy in the typing that helps boost the typing experience; it also offers quick repair and replacement of switches that add convenience and cost-effectiveness to the mechanical keyboard. In addition, the mechanical keyboard is more robust and gives a fast response to key switches, thereby enhancing the functionality of the mechanical keyboards compared to the membrane keyboard.
Benefits provided by the mechanical keyboard and the existence of channel distribution
The mechanical keyboard provides comfort for the positioning of the hands, forearm, and wrist, while the curve key layout allows quick access to the keys, which helps to minimize stress while typing. Also, the layout of the keyboard reduces the distance between the most widely used keys, which helps motivate the user to follow the mechanical keyboard as it can be used for different applications. In addition, leading players operating in the respective market facilitate products across multiple distribution channels that extend the global market presence in the mechanical keyboard market.
Booming gaming industry
Increasing consumers in gaming industries are also encouraging market growth. Professional gamers typically prefer wired keyboards as they are ideal for gaming applications. They have no lags and are more responsive to complex key combinations. Wired keyboards are preferred as users do not have to worry about changing the battery, recharging the battery, or sometimes causing the battery to run out when playing games or typing. The adoption of such a type of keyboard is strong and is expected to continue in the future. The companies that sell wired mechanical keyboards are Corsair, Alienware, Azio, Logitech, Razer, Roccat, and others.
On the other hand, wireless keyboards run on batteries and are of two types—Bluetooth or Radio Frequency (R/F). They free the user from the clutter of wires and fit well for any desk with limited space. It is favored in commercial as well as residential areas with low requirements for precision and speed. The wireless keyboard allows more mobility and can be used in wide spaces. The use of these keyboard types for gamers is expected to increase in the future. Several companies are adding wireless keyboards to their offerings to draw more consumers, such as Logitech International SA, CORSAIR, and Drevo Systems Pvt. Ltd, Velocifire, SainSonic, and Obins, etc.
The availability of substitutes can hinder the growth of the market for mechanical keyboards
The availability of humble keyboards at a low cost and the availability of advanced substitutes such as multi-function mouse and joysticks are significant factors that are expected to impede the growth of the mechanical keyboard market over the assessment period.
The global mechanical keyboard industry has been segmented into product types, technology, and application.
By product type, the global mechanical keyboard market has been segmented into tactile switches, clicky switches, and linear switches.
By technology, the global mechanical keyboard market has been segmented into wired mechanical keyboard and wireless mechanical keyboard.
By application, the global mechanical keyboard market has been segmented into professional gamers, commercial, and residential.
APAC to dominate the global market
Asia Pacific is projected to be the fastest-growing market for mechanical keyboards growing at the highest level of CAGR due to the rising number of professional gamers. China held the largest market share in 2017 and is predicted to post the highest CAGR in the forecast period.
In order to gain a competitive advantage, mechanical keyboard market players opt for strategic alliances with e-Commerce platform providers to meet rising demand in various end-use industries, including gaming, BFSI, government, and others.
Notable players in the global mechanical keyboard market are Corsair (US), Razer Inc. (US), Lenovo (US), SteelSeries (Denmark), ROCCAT GmBH (Germany), Rapoo Corporation (China), Dell (US), HP Development Company, LP (US), A4TECH (Taiwan), and Logitech (Switzerland).
In September 2019, Logitech G collaborated with TSM. Players and managers of different TSM teams have worked with Logitech G on a wide variety of product designs, providing critical insights into what a pro athlete needs to compete at the highest level.
In October 2019, Razer, a gaming tech giant, entered into a strategic alliance with Gamescom's organizer Koelnmesse via a Memorandum of Understanding (MOU). The trade and gaming conference has been held annually in Cologne, Germany, since 2009 and attracts several thousand visitors a year.
This research report explores vital drivers, constraints, and challenges in the global mechanical keyboard market, regional and segment revenue estimates and assessments. The base year is 2018; the projection period is 2017-2023. The segmentation of the industry is defined in the following manner.
By Product Type
|Market Size||USD 1,361.8 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type, Technology, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Corsair (US), Razer Inc. (US), Lenovo (US), SteelSeries (Denmark), ROCCAT GmBH (Germany), Rapoo Corporation (China), Dell (US), HP Development Company, LP (US), A4TECH (Taiwan), and Logitech (Switzerland)|
|Key Market Opportunities||The increasing preference of consumers and a rise in the disposable income.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The Global Mechanical Keyboard Market’s historical valuation was recorded to be USD 705.4 million, which was in 2017.
The expected valuation is recorded to be USD 1,361.8 million for the expansion of Global Mechanical Keyboard Market in future.
HP Development Company, Dell (US), Razer Inc. (US), SteelSeries (Denmark), Corsair (US), A4TECH (Taiwan), Lenovo (US), LP (US), Rapoo Corporation (China), ROCCAT GmBH (Germany), and Logitech (Switzerland) are the key companies contributing in the market share inevitably.
Asia-Pacific is recorded to be the fastest-growing market in the mechanical keyboard market. It is growing at the highest CAGR.
The escalating adoption of wireless mechanical keyboards has contributed mainly to the growth of the mechanical keyboard market during the assessment period.