The mechanical keyboard market is estimated to be valued at US$ 2113.16 Mn in 2023 and is expected to exhibit a CAGR of 20.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Mechanical keyboards provide better typing experience compared to membrane keyboards by giving tactile and audio feedback. They are more durable and last longer than regular keyboards. Their tactile switches provide the user with precise control over key presses. Mechanical keyboards also offer customizable keycaps, switches, and layouts to meet user preference and enhance typing or gaming performance.
Market key trends:
The growing popularity of gaming is driving demand for mechanical keyboards. Gamers prefer mechanical keyboards as their tactile and responsive key switches provide an edge over regular keyboards during intense gaming sessions. Mechanical keyboards accurately register fast successive key presses without missing any keystrokes. Their durability also makes them suitable for gaming applications that require heavy and prolonged usage. Additionally, mechanical keyboards come with RGB backlighting, programmable keys, and customization options that enhance the gaming experience for professional and casual gamers. Their integration of modern features while retaining mechanical switches is increasing adoption in the gaming community.
Porter's Analysis
Threat of new entrants: New companies find it difficult to enter the mechanical keyboard market as it requires high capital and strong brand image. Established players enjoy economies of scale.
Bargaining power of buyers: Buyers have moderate to high bargaining power as there are many established brands to choose from and cheaper membrane keyboards provide substitutes.
Bargaining power of suppliers: Parts suppliers have moderate bargaining power as there are alternative suppliers and raw materials suppliers. The product components are standardized.
Threat of new substitutes: Membrane keyboards and wireless keyboards provide substitution threat but mechanical keyboards are preferred for gamers due to tactile feedback.
Competitive rivalry: Fierce competition exists between key players to gain market share through new product launches and customization.
SWOT Analysis
Strengths: Mechanical keyboards have better tactile feedback and durability compared to membrane keyboards. Many established brands have strong brand image and customization options.
Weaknesses: Mechanical keyboards are expensive compared to membrane keyboards. May require maintenance for switch replacement.
Opportunities: Growing gaming and e-sports market increases demand. Wireless options provide new opportunities.
Threats: Introduction of new low-cost membrane keyboards. Currency fluctuations impact international sales.
Key Takeaways
The Global Mechanical Keyboard Market Size is expected to witness high growth at a CAGR of 20.2% over the forecast period, due to increasing e-sports and gaming culture. The APAC region dominates the market currently due to high sales in China, followed by North America. Regional analysis indicate fastest growth in Southeast Asian countries and Latin America over the coming years due to increasing disposable incomes.
Key players operating in the mechanical keyboard market are Huizhou Greetech Electronics Co. Ltd., Kaihua Electronics Co., Ltd. Trantek Electronics Co., Ltd. - TTC, OMRON Corporation, Corsair, Razer Inc., Rapoo Corporation, Lenovo, Dell HP Development Company, A4TECH, and SteelSeries. Players are focused on product customization and launch of wireless variants to tap new opportunities.
For More Insights, Read: https://www.newswirestats.com/mechanical-keyboard-market-demand-growth-and-regional-outlook-by-2030/
