LONDON--(BUSINESS WIRE)--The PC peripherals market is expected to grow by USD 43.42 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio.
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The growing focus on simplifying the teaching and learning process and achieving educational excellence has led many educational institutional institutions to adopt digitization. Some educational institutions are adopting bring-your-own-device (BYOD) policy, virtual education model, and providing online courses to offer convenience to students. The rising digitization has created a strong demand for PCs, laptops, and notebooks among educational institutions. These factors are driving the growth of the global PC peripherals market.
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As per Technavio, the growing preference for client SSDs will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
PC Peripherals Market: Growing Preference for Client SSDs
The growing consumer demand for thinner, lighter, and more sophisticated laptops with advanced functionalities have compelled PC manufacturers to focus on developing laptops embedded with SSDs. PC manufacturers are now introducing new SSDs, which is ideal for business PCs, laptops, desktop PCs, notebooks, and high-performance PCs. For instance, in February 2019, Micron Technology, Inc. added a new cost-efficient SSD called Micron 1300 to its client computing product portfolio, which is ideal for personal computing devices. The use of such SSDs improves the overall performance of laptops, which is crucial in driving sales. With the new product launches, the demand for PC peripherals will increase during the forecast period.
“Rising strategic partnerships as well as acquisitions, and the increasing popularity of smart speakers will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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PC Peripherals Market: Segmentation Analysis
This market research report segments the PC peripherals market by geography (North America, APAC, Europe, South America, and MEA) and end-user (Business and Consumers).
The North American region led the PC peripherals market in 2019, followed by APAC, Europe, South America, and MEA respectively. During the forecast period, North America is expected to register the highest incremental growth due to the increase in the adoption of music libraries in the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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