“Global Laptop Accessories Market to reach a market value of USD 70.2 Billion by 2031 growing at a CAGR of 6.7%”
The Global Laptop Accessories Market size is expected to reach $70.2 billion by 2031, rising at a market growth of 6.7% CAGR during the forecast period. In the year 2023, the market attained a volume of 6,53,838.9 thousand units, experiencing a growth of 3.9% (2020-2023).
Memory drives contribute to significant performance improvements in laptops by reducing boot times, speeding up application launch times, and enhancing overall system responsiveness. Thus, the memory drives segment acquired $9,823.9 million revenue share in 2023. As users demand faster and more efficient computing experiences, the adoption of memory drives becomes essential.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In, April 2024, Logitech revealed Signature Slim K950 wireless keyboard and the Signature Slim Combo. These new accessories are designed to simplify the experience across personal and work on computers. Additionally, In, November 2023, Logitech launched a wireless ergonomic keyboard- Wave Keys. The keyboard incorporates a wave design for its keys, arranged in a compact layout and complemented by an integrated cushioned palm rest.
Based on the Analysis presented in the KBV Cardinal matrix; Microsoft Corporation is the forerunner in the Laptop Accessories Market. Companies such as HP, Inc., Logitech International S.A, Dell Technologies, Inc. are some of the key innovators in Laptop Accessories Market. In, October 2023, Logitech International S.A. launched Zone Wireless 2, a cutting-edge business headset that employs AI to provide an exceptional, two-way noise-free calling experience. Zone Wireless 2 represents Logitech's premium headset offering tailored for professional users seeking advanced technology.
Technological breakthroughs in wireless charging technology have revolutionized how users power their devices. Wireless charging pads eliminate the need for cumbersome cables and adapters, providing a convenient solution for charging laptops and other compatible devices. Therefore, the market will grow rapidly in the coming years.
With video conferencing becoming the norm for virtual meetings and remote collaboration, webcams have become essential accessories for laptops. High-definition webcams offer clear video quality and reliable performance, allowing users to participate in video calls, virtual meetings, and online presentations with clarity and professionalism. Hence, these factors can increase demand for laptop accessories in the upcoming years.
Consumers face compatibility challenges when upgrading their laptops or purchasing new accessories. They need to ensure that accessories such as chargers, docking stations, external monitors, and peripherals are compatible with their existing devices or risk encountering connectivity issues and functionality limitations. Hence, these aspects will limit the demand for laptop accessories in the coming years.
Based on type, the market is bifurcated into electronic and non-electronic. The electronic segment held 80% revenue share in the market in 2023. In terms of volume, the electronic segment would utilize 7,51,801.7 thousand units of laptop accessories by 2031. With the growing need for seamless connectivity in today's digital world, electronic accessories such as docking stations, USB hubs, and wireless adapters have become essential for expanding laptop connectivity options.
The electronic segment is divided into charger & adapter, battery, memory drives, mouse & keyboard, audio devices, and others. The charger and adapter segment recorded a considerable 15% revenue share in the market in 2023. In terms of volume, the charger and adapter segment would utilize 1,39,331.4 thousand units of laptop accessories by 2031. With the rise of remote work, online learning, and digital entertainment, laptop adoption has reached unprecedented levels worldwide.
The non-electronic segment is further segmented into mouse pad, stand & holder, protective case, and others. In 2023, the stand and holder segment acquired a 34% revenue share in the market. In terms of volume, the stand and holder segment would utilize 1,42,581.3 thousand units of laptop accessories by 2031. The need for adaptable and portable laptop accessories that fit different work contexts has increased due to the advent of remote work and flexible work schedules.
Based on distribution channel, the market is bifurcated into offline and e-commerce. In 2023, the e-commerce segment witnessed a substantial 39% revenue share in the market. In terms of volume, the e-commerce segment would utilize 6,30,494.1 thousand units of laptop accessories by 2031. E-commerce platforms offer an extensive selection of laptop accessories, ranging from essential peripherals like chargers and cables to specialized items such as gaming mice, ergonomic keyboards, and laptop cooling pads.
On the basis of end-use, the market is divided into personal and commercial. The personal segment recorded the maximum 59.1% revenue share in the market in 2023. In terms of volume, the personal segment would utilize 8,17,678.9 thousand units of laptop accessories by 2031. Consumers seek accessories that reflect their unique style and personality, leading to the popularity of customizable laptop skins, keyboard covers, and trackpad stickers.
Free Valuable Insights: Global Laptop Accessories Market size to reach USD 70.2 billion by 2031
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2023, the Asia Pacific segment acquired a 36.4% revenue share in the market. In terms of volume, the Asia Pacific region would utilize 5,54,676.3 thousand units of laptop accessories by 2031. The Asia Pacific region is witnessing widespread adoption of technology, including laptops, across various sectors such as education, business, healthcare, and entertainment.
The competition in the laptop accessories market is typically fierce due to the high demand for various add-ons and peripherals that enhance the functionality and usability of laptops. This market encompasses a wide range of products, including laptop cases, bags, cooling pads, docking stations, external hard drives, and more.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 42.1 Billion |
| Market size forecast in 2031 | USD 70.2 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 6.7% from 2024 to 2031 |
| Quantitative Data | Volume in Thousand Units, Revenue in USD Billion, and CAGR from 2020 to 2031 |
| Number of Pages | 525 |
| Number of Tables | 1073 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Distribution Channel, End-use, Region |
| Country scope |
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| Companies Included | Logitech International S.A, Western Digital Corporation, HP, Inc., ASUSTeK Computer Inc., Dell Technologies, Inc., Eaton Corporation PLC (Tripp Lite), Kingston Technology Company, Inc., Seagate Technology LLC, Microsoft Corporation, Lenovo Group Limited |
By Type (Volume, Thousand Units, USD Billion, 2020-2031)
By Distribution Channel (Volume, Thousand Units, USD Billion, 2020-2031)
By End-use (Volume, Thousand Units, USD Billion, 2020-2031)
By Geography (Volume, Thousand Units, USD Billion, 2020-2031)
This Market size is expected to reach $70.2 billion by 2031.
Prevalence of remote work and remote learning solutions are driving the Market in coming years, however, Technological obsolescence and compatibility issues restraints the growth of the Market.
Logitech International S.A, Western Digital Corporation, HP, Inc., ASUSTeK Computer Inc., Dell Technologies, Inc., Eaton Corporation PLC (Tripp Lite), Kingston Technology Company, Inc., Seagate Technology LLC, Microsoft Corporation, Lenovo Group Limited
In the year 2023, the market attained a volume of 6,53,838.9 thousand units, experiencing a growth of 3.9% (2020-2023).
The Offline segment is leading the Market by Distribution Channel in 2023; thereby, achieving a market value of $40.7 billion by 2031.
The Asia Pacific region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $26.4 billion by 2031.
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