Major companies in the computer peripheral equipment market include HP; IBM; Apple; Logitech and Epson.
The global computer peripheral equipment market is expected to grow from $459.03 billion in 2020 to $499.53 billion in 2021 at a compound annual growth rate (CAGR) of 8.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $583.03 billion in 2025 at a CAGR of 4%.
The computer peripheral equipment market consists of sales of computer peripheral equipment by entities (organizations, sole traders and partnerships) that provide computer peripheral equipment such as mouse, keyboard, monitor, printer and scanner that connect to a computer system to add functionality. The computer peripheral equipment market is segmented into mouse; keyboard; monitor; printer and scanner.
North America was the largest region in the global computer peripheral equipment market, accounting for 56% of the market in 2020. Asia Pacific was the second largest region accounting for 23% of the global computer peripheral equipment market. Africa was the smallest region in the global computer peripheral equipment market.
Portable folding keyboards are increasingly becoming popular due to small size and convenience it offers. These keyboards can be connected to devices such as phones, computers, and tablets and are the same size as a regular keyboard when unfolded. Portable folding keyboards are generally compatible with all major operating systems such as Windows, Android and iOS and can be charged using a USB port. Some of the portable folding keyboards include Microsoft’s Universal Foldable Keyboard, iClever wireless folding keyboard, IKOS foldable keyboard.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the computer peripheral equipment market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of ’lock down’ and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, there has been an increased demand for laptops and related computer hardware as companies look to support their employees working from home. This demand is expected to negate some of the negative impact caused by the outbreak. It is expected that the computer peripheral equipment market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Data volume generated from personal devices and various business operations in many industries is rapidly increasing, this is expected to drive the demand for storage devices during the forecast period. For instance, the total data generated worldwide is projected to reach 163 zettabytes (ZB) by 2025. In order to manage this rising data volume, the demand for storage devices from both corporate and individual customers is expected to drive the computer peripheral equipment market in the forecast period.
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