BANGALORE, India, Nov. 8, 2021 /PRNewswire/ -- Computer Peripherals Market is segmented By Product Type - Input Devices, Output Devices, Storage Devices, Others, By End User/Application - Residential, Commercial. Global Opportunity Analysis and Industry Forecast, 2021 - 2026. It is published in Valuates Reports under the Business Services Category.
The global Computer Peripherals market size is projected to reach USD 17810 million by 2027, from USD 13220 million in 2020, at a CAGR of 5.1% during 2021-2027.
Major factors driving the growth of the computer peripherals market are:
Consumer demand for advanced computer peripherals is increasing, while device prices are decreasing, this trend is expected to drive the growth of the computer peripheral market forward. Furthermore, the expanding demand for external gadgets, as well as an individual's rising disposable income, are projected to present attractive growth prospects for the market.
The application of wireless technologies is significantly proliferating, this, in turn, is expected to provide lucrative growth opportunities to the computer peripherals market players. People are shifting from traditional wired computer peripherals to wireless as these machines are incredibly portable and ready to go anywhere you go. Their low-profile design means they slip easily into a backpack or purse for easy travel. Additional computer peripherals are used by employees in corporate offices to speed up their work thereby increasing their overall productivity.
TRENDS INFLUENCING THE GROWTH OF THE COMPUTER PERIPHERALS MARKET ARE
Educational institutions are evolving and adopting digitalization, which has increased the demand for devices such as PCs and notebooks in the education sector. The bring-your-own-device (BYOD) concept is being adopted by various educational institutions around the country, which is expanding the use of PCs and laptops. Thus the digitization trend in the educational sector is expected to drive the growth of the computer peripherals market.
Furthermore, the global market is predicted to increase due to increasing technological innovation and a focus on the ergonomic design of computer-related equipment. Over the projected period, rising advancements in communication technologies such as Bluetooth, Wi-Fi, and NFC, as well as increasing computer gaming trends, are expected to boost the worldwide computer peripherals market forward.
During the projected period, market growth will be fueled by trends such as the increased preference for client SSDs. The usage of client SSDs in client systems such as desktop PCs, laptops, notebooks, and high-performance PCs is driving growth in the client SSD market.
The introduction of cloud computing has resulted in Big Data and enterprise mobility. This is increasing demand for associated data ecosystems, which is expected to drive demand for digital storage volume and, as a result, storage device demand. Currently, there is a lot of room for enterprise data and user data to grow. Increasing demand for data storage and management has increased demand for external storage devices, resulting in Computer Peripherals Market growth.
Based on application, the residential segment is likely to offer attractive market opportunities between 2018 and 2025 for players operating in the global market.
Based on region, North America is expected to be the most lucrative. This is due to an increase in the number of online gamers in the region, as well as significant investment in computer gaming gear. Furthermore, rising demand for computer peripherals across a variety of industries is propelling the region's computer peripheral market forward. Furthermore, increased investment in technology improvements in North America is likely to drive growth in the target markets.
The major regions covered in the report are North America, Europe, Asia-Pacific, South America, Middle East & Africa, etc. The report has specifically covered major countries including U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, U.A.E, etc.
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