Computer Peripheral Equipment Market Opportunities and Strategies to 2033

This report describes and explains the computer peripheral equipment market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global computer peripheral equipment market reached a value of nearly $153.98 billion in 2023, having grown at a compound annual growth rate (CAGR) of 4.78% since 2018. The market is expected to grow from $153.98 billion in 2023 to $183.22 billion in 2028 at a rate of 3.54%. The market is then expected to grow at a CAGR of 3.25% from 2028 and reach $215.03 billion in 2033.

Growth in the historic period resulted from growth in the gaming industry, rising cybersecurity threats, growth in remote working, growing adoption of cloud computing technology and expansion of the e-commerce sector. Factors that negatively affected growth in the historic period include fluctuations in raw material prices and economic uncertainties or downturns.

Going forward, the increasing sales of computers and laptops, rising adoption of IoT (Internet of Things) devices, increasing digital transformation, increasing use of augmented reality and increasing government support will drive the market. Factors that could hinder the growth of the computer peripheral equipment market in the future include high initial costs of peripherals and export restrictions.

The computer peripheral equipment market is segmented by type into mouse, keyboard, monitor, printer, scanner, ATM and other types. The monitor market was the largest segment of the computer peripheral equipment market segmented by type, accounting for 43.24% or $66.57 billion of the total in 2023. Going forward, the mouse segment is expected to be the fastest growing segment in the computer peripheral equipment market segmented by type, at a CAGR of 5.40% during 2023-2028.

The computer peripheral equipment market is segmented by connectivity into wired and wireless. The wired market was the largest segment of the computer peripheral equipment market segmented by connectivity, accounting for 57.95% or $89.24 billion of the total in 2023. Going forward, the wireless segment is expected to be the fastest growing segment in the computer peripheral equipment market segmented by connectivity, at a CAGR of 5.26% during 2023-2028.

The computer peripheral equipment market is segmented by end-use into residential and commercial. The commercial market was the largest segment of the computer peripheral equipment market segmented by end-use, accounting for 59.52% or $91.65 billion of the total in 2023. Going forward, the commercial segment is expected to be the fastest growing segment in the computer peripheral equipment market segmented by end-use, at a CAGR of 3.68% during 2023-2028.

Western Europe was the largest region in the computer peripheral equipment market, accounting for 30.91% or $47.6 billion of the total in 2023. It was followed by Asia-Pacific, North America and then the other regions. Going forward, the fastest-growing regions in the computer peripheral equipment market will be the Middle East and South America, where growth will be at CAGRs of 14.88% and 5.71% respectively. These will be followed by Asia-Pacific and Eastern Europe, where the markets are expected to grow at CAGRs of 4.21% and 4.12% respectively.

The global computer peripheral equipment market is fairly concentrated, with large players in the market. The top ten competitors in the market make up 28.25% of the total market in 2023. Lenovo Group Limited was the largest competitor with a 4.34% share of the market, followed HP with 4.19%, Dell Technologies Inc. with 4.18%, Seiko Epson Corp. (Epson) with 4.13%, Apple Inc. with 4.13%, Canon Inc. with 3.70%, Logitech International S.A. with 1.26%, Microsoft Corporation with 0.92%, ASUSTEK COMPUTER INC. (ASUS) with 0.79% and Acer Inc. with 0.60%.

The top opportunities in the computer peripheral equipment market segmented by type will arise in the monitor segment, which will gain $16.51 billion of global annual sales by 2028. The top opportunities in the computer peripheral equipment market by connectivity will arise in the wireless segment, which will gain $18.91 billion of global annual sales by 2028. The top opportunities in the computer peripheral equipment market by end-use will arise in the commercial segment, which will gain $18.15 billion of global annual sales by 2028. The computer peripheral equipment market size will gain the most in China at $5.76 billion.

Market-trend-based strategies for the computer peripheral equipment market include focus on developing and introducing innovative products that enhance user experience, developing AI (artificial intelligence)-enhanced products tailored for hybrid work environments, developing versatile and high-performance gaming peripherals such as gaming mice that cater to a wide range of players and adopting a strategic partnership approach for business expansion.

Player-adopted strategies in the computer peripheral equipment market include focus on new product launches to strengthen product portfolio and focus on strategic partnerships and collaborations.

To take advantage of the opportunities, the analyst recommends the computer peripheral equipment companies to focus on high-performance peripherals, focus on AI-enhanced solutions for hybrid work, focus on high-performance and versatile gaming peripherals, focus on the fastest-growing mouse segment, focus on the wireless segment, expand in emerging markets, focus on strategic partnerships for market expansion, focus on expanding distribution channels, focus on developing competitive pricing strategies, continue to use B2B promotions, focus on leveraging multi-channel marketing, focus on enhancing product demonstrations and reviews and focus on expanding in the commercial segment.