The Total Addressable Market (TAM) for computing keyboard was valued at USD 2.8 billion in 2022. It is projected to reach USD 3.34 billion by 2031, growing at a CAGR of 2.0% during the forecast period 2022-2031.
The computing keyboard market refers to desktop and laptop keyboards used by enterprises across verticals and professional individuals. The computing keyboards are of various types that include mechanical, membrane, and optical, among others. Most keyboards have a similar layout but also include Tenkeyless (TKL) keyboards, where numeric pads in keyboards are eliminated. Further, with the increase in digitalization in all sectors, there has been a surge in demand for computing keyboards.
A keyboard enables users to enter commands and characters into a smart T.V., laptop, tablet, or phone (T.V.). The Swiss-American company Logitech International, S.A. is expanding its services to meet the rise in consumer demand. The company is focusing on developing wireless peripherals to meet market demand as soon as possible.
In light of the progress of the I.T. infrastructure, most companies shifted their entire processes online, thereby increasing the utilization of computers for daily activities. The keyboard is one of the essential input devices that allows users of all categories to enter data into the computer. With rigorous research and development by the companies, differential keyboards have catered to a variety of needs of professional users. Every innovation is projected to ease the strain caused to the user by using the keyboard for a more extended period. As stated in a report by Microsoft, a study revealed that 50% of professionals observed Repetitive Strain Injuries (RSI) during the first year of their new jobs. Thus companies have developed keyboards such as mechanical keyboards that have activated key switches, ergonomic keyboards that are curved at specific angles to fit perfectly to the users, and others. Further, professionals have extensively used wired keyboards that utilize Bluetooth or RFID technology. Thus, technological advancements have led to the emergence of various types of keyboards, subsequently bolstering the global computing keyboards market growth.
The company's keyboards come in various types: membrane, mechanical, ergonomics, wired-wireless, and compact. The differential improvements in the keyboards have made working a convenient experience. For example, the Cherry Stream Keyboard from Cherry is an extra silent keyboard with quiet keystrokes, making it a suitable choice in the office environment. The other products include features such as a backlit keyboard, touchpad and trackball integrated keyboard, and smart card reader. Further, the Razer Pro Type — a quiet wireless mechanical keyboard from Razer Inc. allows it to be connected to 4 devices simultaneously. The keyboards offer easy switching of devices with just a click and customizable fully programmable keys that allow the user to add personal shortcuts. Thus, the traditional keyboards' improvisations have bolstered the market's growth.
For the user, non-standard layouts on ergonomic keyboards can be confusing. The end, delete, and home keys are not situated where they are on conventional keyboards. The user may find it confusing because the function keys (F1–F12) and escape keys are smaller than those on conventional keyboards. Furthermore, according to medical professionals' testimonies, RSIs can be decreased using a painless and comfortable keyboard. Vertical keyboards could be very confusing and uncomfortable, and they might not be able to support the user's palms, which is crucial when trying to type with hands in the vertical position. In addition, the ideal hand position depicted by experts conflicts with what is needed to type on vertical keyboards. These elements are therefore anticipated to limit market growth shortly.
Ongoing advancements in technologies have brought forth advancements that enable the user to convert the speech-to-text, which is ultimately a tough competition to the overall keyboard market. The speech-to-text converter is based on the voice recognition technology developed in the 1950s. However, technological advancements have led to using simple pattern recognition, pattern feature and analysis, language modeling and statistical analysis, artificial neural networks, and others. Other technologies, such as natural language processing and cognitive computing, are widely used. However, the ease of getting the speech converted to text has narrowed down the strain and the other health issues. Further, the hands-free technology has appealed to many users that are physically disabled and are unable to utilize regular input devices. For instance, the Dragon Speech Recognition by the Nuance Group comprises a speech recognition system that converts sound into syllables and words.
The market is segmented by type, application, sales channel, and region.
By type, the market is further segmented into Wired Keyboard, Wireless Keyboard., where wired keyboard dominates.
The wired keyboards hold the maximum share in the Europe keyboard market, owing to their high production by the manufacturing companies, inexpensive nature, and increased demand from enterprises. Additionally, compared to wireless keyboards, wired keyboards are highly preferred by enterprises due to the availability of various keyboards that suit the organization's needs. Besides, the ability to input data without lagging and the massive price difference between the costs of the wired and wireless keyboards have bolstered the segment's growth.
By application, the market is bifurcated into Enterprise and Institutional use and Professional Individual Use.
The enterprise and the institutional levels typically prefer the membrane of the mechanical keyboards available in a wired structure. This segment caters to a primary share of the keyboards market as enterprises purchase these keyboards in bulk. Further, the keyboards used for the enterprise level are primarily simple keyboards with all the keys. Low utilization of the differential types of keyboards has been observed in these settings, owing to their cost. However, some prominent companies usually provide their employees with ergonomics keyboards to reduce the stress caused. Further, washable silicone keyboards are also provided in hospitals and other places.
Depending on the region, the market is analyzed in North America, Asia-Pacific, Europe, and LAMEA. Asia-Pacific dominates the market.
Asia-Pacific accounted for the maximum share, owing to the presence of manufacturing plants in countries such as China and India. The availability of cheap labor and cost-effective raw materials has led to massive production in this area. Besides, China is considered one of the biggest suppliers of P.C. shipments. Further, as per the paid database Statista, the keyboard market in China earns the most revenue than the other countries. Also, the exports of keyboards and the mouse have seen a drastic rise in the year 2019, where the number of exports in July was valued at approximately USD 0.29 billion and reached USD 0.37 billion in November. Also, with the advent of digitalization, most multinational companies have set their offices in these regions, thus increasing the demand for P.C. and other related devices.
Europe accounts for a significant share of the computing keyboard market. In the region, Germany leads, while the U.K. is anticipated to exhibit the fastest growth rate. Western Europe is one of the largest P.C. markets in the European region, owing to the presence of the largest companies such as HP, Dell, ACER, Apple, and ASUS. Besides increased digitalization, a large amount of the working population, especially in the BFSI sector, Fintech, automotive, and construction sector, among others, has bolstered the growth of the keyboard market in this region. On the other hand, the number of small, medium, and large enterprises in this region is burgeoning, primarily in countries such as France and Germany. Thus the factors above have positively impacted the market.
A significant growth rate is anticipated in North America during the forecast period due to the rising demand for computer keyboards used for gaming. The market for computer keyboards is anticipated to be driven by increased demand from medium-sized and small businesses and OEMs' availability of cutting-edge keyboards in various sizes and shapes.
The major players in the market are
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