According to a new market report published by Transparency Market Research titled ‘Computer Peripherals Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026,’ the global computer peripherals market was valued at US$ 289.33 Bn in 2017 and is estimated to expand at a CAGR of 9.0% during the forecast period from 2018 to 2026. Moreover, in terms of volume, the market is expected to reach 4.50 billion units by 2026.
Rise in the adoption of computer peripherals in the residential sector is a significant growth driver for the computer peripherals market. In 2017, North America constituted a significant share of about 33% of the overall global market. Further, significant demand for wireless computer peripheral devices is expected to create lucrative opportunities for the market in Asia Pacific.
The advent of cloud computing has given rise to Big Data and enterprise mobility. This is supporting the growth of connected data ecosystems. This, in turn, is driving demand for digital storage capacity. Currently, the areas of enterprise data and user data are expanding at a robust pace. Demand for external storage devices to manage and store data is on the rise. This is fueling the computer peripherals market globally.
Moreover, technological advancements and ergonomic designs of computer peripherals are propelling the computer peripherals market. Connectivity technologies such as NFC, infrared, Bluetooth, and Wi-Fi are offer computer gamers a smooth gaming experience. Wireless technologies are significantly proliferating across the commercial and industrial sectors. Applications such as industry presentations are driving demand for computer input devices such as mice and pens. These factors are likely to drive the computer peripherals market from 2018 to 2026.
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The storage devices segment of the computer peripherals market is estimated to contribute significantly to revenue in the coming years. Rise in need for external storage is primarily creating demand for storage devices. Storage devices was a prominent segment in terms of revenue in 2017, and accounted for over 47% share of the market. The adoption of wireless computer peripheral devices has increased significantly in recent years, owing to their easy-to-use features. Moreover, mobility and lower total cost of ownership of wireless peripherals as compared to traditional computer peripherals is helping companies generate considerable revenue form storage peripherals.
The commercial sector was a prominent end-use sector of computer peripherals in 2017. The commercial segment held market value share of 57.3% in the same year. Further, rise in the adoption of computer output peripherals such as loudspeakers and headphones by individuals in the commercial sector is expected to create lucrative opportunities for companies operating in the market.