PC Accessories Market Size

PC Accessories Market Analysis

The PC Accessories Market size is estimated at USD 27.58 billion in 2024, and is expected to reach USD 48.90 billion by 2029, growing at a CAGR of 12.13% during the forecast period (2024-2029).

Increased use of computers in many companies to run their daily operations is one of the most important factors for market growth. Furthermore, the growing dependency on digitization, aided by changing lifestyles and technological inventions, is expected to enhance market growth significantly. According to IBEF, in the Union Budget 2023-24, the IT and telecom sector allocation stood at INR 97,579.05 crore (USD 11.77 billion).

• It is expected that the expansion of the market will be stimulated by an increasing number of PC users for recreational purposes, such as gaming. In 2025, there are expected to be 1,262,47 million households using computers according to the OECD's Economic Cooperation and Development Survey. Houses with at least one computer are referred to as computer households. Such a massive growth Market participants will have An opportunity to diversify their product portfolio, PC accessories as a result of the adoption of computers. They will also be able to better position themselves in different regions and gain a larger share of the market.
• The market is driven by better job prospects in IT and communications technology, which require the use of personal computers and mobile devices such as mice and keyboards. In wireless mice for the IT sector, breakthrough technology with a maximum battery life is increasingly being used. According to IBEF, India's IT and business services demand is projected to reach USD 19.93 billion by 2025.
• Wireless mice are rapidly becoming more and more popular, thanks to increasingly innovative features, such as RGB lighting and additional programmable buttons, being added to them by competitive gamers. Work places, homes or the entertainment sector are commonly made use of this Wireless Mouse. For example, in June 2023, Gaming peripheral company Razer launched a new line of gaming mice with the Cobra Pro, a premium-style wireless mouse, and the Cobra, an additional basic wired version that utilizes the same overall design. The Cobra sits alongside Razer's already-wide roster of gaming mice, such as the Viper, Deathadder, and Basilisk. However, this new mouse is intended to cover different preferences that the lineup didn't already offer while having the high-end features of its other top-of-the-line mice.
• Moreover, inflation significantly impacts the studied Market, as it can lead to higher costs for manufacturers. This can be due to various factors, such as higher prices for raw materials, increased shipping costs, and labor costs and shortages. As a result, manufacturers may be forced to raise their prices to maintain profitability, ultimately decreasing product demand.
• The work-from-home and study-from-home trends due to the COVID-19 pandemic have benefited the overall PCmarket, including laptops and desktop systems, with sales.