In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
The global programmer/gamer keyboard market is witnessing the launch of various advanced programmer/gamer keyboards. Moreover, the advancement in the programmer/gamer keyboards such as mecha-membrane keyboards, mouse pad attached keyboards along with other advancement in the switches improves the performance, durability and response rate. Further, increasing product awareness among consumers is signaling a promising growth for the development of programmer/gamer keyboards market in the years ahead. The global programmer/gamer keyboards market reached USD 727.5 Million in 2016 and is expected to reach USD 2,371.8 Million by the end of 2022, expanding at a CAGR of 18.7% over the period 2017-2022. Moreover, the growth of the programmer/gamer keyboards market is attributed to the increasing gaming population in the world combined with continuous launch of innovative PC games.
The global programmer/gamer keyboard market is segmented by regions into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa, out of which, the Asia Pacific is slated to account for a leading share of around 38% in terms of revenue by 2022 in the overall programmer/gamer keyboards market owing to the high gaming population in China and Japan. Besides, rising affluent middle class population coupled with increasing number of young generation is also expected to impel the growth of the programmer/gamer keyboards market in the Asia Pacific region. Likely, China, Japan and South Korea have the prominent programmer/keyboard market in the region.
North America is expected to showcase substantial growth by registering a CAGR of 18.1% over the forecast period and is believed to hold the second largest market size by crossing USD 720 Million in the global programmer/gamer keyboard market by the end of 2022. Further, Germany & U.K. are the major contributors towards the growth of programmer/gamer keyboards market in Europe market where Germany is anticipated to flourish at a CAGR of 19.5% over the forecast period. Germany programmer/gamer keyboards market contributed around 21.2% share of the total Europe programmer/gamer keyboards market in 2016 and is projected to capture around 23% market share by 2022 and is further expected to achieve Y-o-Y growth rate of 27.1% in 2022 as compared to previous year.
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The global programmer/gamer keyboard market has been segmented on the basis of connectivity into wireless keyboards and wired keyboards, out of which, the wired keyboards segment with 76.1% share in 2016 occupies the largest market of Programmer/Gamer keyboards across the globe. Further, the wired keyboards segment is expected to dominate the overall programmer/gamer keyboards market during the period 2017-2022 owing to the better response rate during gaming or programming.
The global programmer/gamer keyboard market is divided by key type into mechanical keyboards and membrane keyboards, out of which, the mechanical keyboards segment with 65.0% market share in 2016 is anticipated to have largest share by the end of 2022. Further, the mechanical keyboards segment is expected to achieve Y-o-Y growth rate of 27.4% in 2022 as compared to previous year.
The global programmer/gamer keyboard market is segmented by switches into greentech, chiclet, rubber dome, kailh, cherry MX, mecha-membrane, romer-G, razer and others, out of which, the cherry MX switches segment is anticipated to have the largest share by 2022. Additionally, cherry MX switches segment is forecasted to observe a growth rate of 2.3x over the forecast period.
The global programmer/gamer keyboard market is divided by price range into high price, medium price and low price, out of which, the medium price segment dominated the programmer/ gamer keyboard market during 2016 and is estimated to maintain its dominance throughout the forecast period. Further, abundance of programmer/gamer keyboards in this range with significant features are believed to foster the growth of the medium price segment with a CAGR of 19.3% over the forecast period. Further, High price segment contributed around 20.5% market share of total programmer/gamer keyboards market during 2016 and is expected to observe the growth rate of 3.0x over the forecast period.
The global programmer/gamer keyboard market is segmented by distribution channel into offline store and online store. Among these segments, the online distribution channel segment showed the positive growth across the global programmer/gamer keyboards market. The online retailers are taking various initiatives such as online sales, discounts and cash back offers to grab majority of the population. Such initiatives taken by online retailers are expected to boost the sales of programmer/gamer keyboards through online stores.
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Growing population in urban cities is one of the key factors which are driving the growth of the gaming industry in developing countries. For instance, the urban population in developing countries such as India is expected to reach 41.8% of the world’s total population by 2030, characterized by high income individuals that are expected to fuel the demand for programmer/gamer keyboards over the forecast period. Moreover, growing gaming industry is anticipated to boost the demand for gaming keyboards to play games which is likely to spur the growth of the programmer/gamer keyboards market in upcoming years. Along with that, the rising trend of LAN gaming among the youth is expected to propel the demand for high accuracy electronic goods such as gaming keyboards over the forecast period.
Additionally, increasing adoption of PC games coupled with increasing number of programmers in developing nations such as India, China, and others is creating great demand for programmer/gamer keyboards which is further opening new opportunities for the programmers and gamers around the world.
There is a lack of awareness regarding the benefits of programmer/gamer keyboards such as high speed and better response among others. Further, high cost associated with gaming keyboards is a major challenge which is estimated to obstruct the growth of the global programmer/ gamer keyboards market in future.