June 16, 2024
Mechanical Keyboard Market

Mechanical Keyboard Market is Estimated to Witness High Growth Owing to Expanding E-Sports Industry

Mechanical keyboards provide an enhanced tactile feedback experience compared to regular keyboards by using mechanical switches under each key. Their precise, responsive and customizable keystrokes are favored by gamers and coders. The gaming industry has witnessed rapid growth with the rise of e-sports tournaments and streaming platforms. Mechanical keyboards have become an essential gear for gaming enthusiasts and professionals.

The global mechanical keyboard market is estimated to be valued at US$ 2434.37 billion in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in the mechanical keyboard market are General Electric Company, SKF Group, Siemens Gamesa Renewable Energy, Inc., Vestas Wind Systems A/S, 3M Company. Key opportunities in the market include product innovations focusing on wireless connectivity, lighting customizations and compatibility with multiple operating systems. Major players are expanding their geographical presence in high growth markets like Asia Pacific and Middle East & Africa.

Market Drivers

The expanding popularity of online multiplayer games and tournaments has been driving the demand for enhanced input devices like Mechanical Keyboard Market Growth. E-sports has emerged as a billion-dollar industry with millions of viewers worldwide. Mechanical keyboards offer tactile precision and accuracy preferred for competitive online gaming. Furthermore, growing remote working culture amid the pandemic has increased digital productivity and boosted keyboard sales significantly over the recent past.

PEST Analysis

Political: The mechanical keyboard market will be affected by any trade policies or regulations imposed across countries regarding the import and export of electronic goods. Governments may impose tariffs on the import of mechanical keyboards to protect local manufacturers.

Economic: Growing disposable incomes and increasing adoption of electronic gadgets will drive demand for mechanical keyboards globally. An improving economy will boost consumer spending on computer accessories.

Social: Younger users are more technology-savvy and open to using specialized input devices like mechanical keyboards for gaming and typing work. Increasing popularity of eSports will support demand.

Technological: Advancements in switch technology will lead to more durable and customizable mechanical keyboards. Wireless and portable mechanical keyboards may gain traction. Manufacturers are also launching keyboards with connectivity options like Bluetooth and USB.

The mechanical keyboard market in terms of value is currently concentrated in North America and Europe. Strong demand from professional users in industries like finance, IT, and gaming boosts sales. Countries with high GDP like the United States, Germany, United Kingdom are major revenue generators.

The Asia Pacific region excluding Japan is expected to witness the fastest growth during the forecast period due to rising disposable incomes, increasing digitization, and growing popularity of eSports in countries like China, India. Expanding middle class population and improving standards of living will make mechanical keyboards more affordable and drive higher adoption rates.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it