Mechanical keyboards are the keyboards made of high-quality plastic key switches underneath each of the keycaps. A mechanical keyboard uses switches to send typing/keystroke signals. Such keyboards are expensive when compared to membrane-based keyboards, due to the fact that they comprise additional components. This type of keyboard offers a high degree of responsiveness and tactility. Based on types of switches, these can be categorized into linear, tactile, clicky, and tactile & clicky. Furthermore, membrane keyboards are inexpensive since there are comparatively fewer components. Various types of membrane keyboards include full-travel, scissor-switch, and flat panel.
The global mechanical keyboard market is estimated to be valued at US$ 1,462.59 million in 2021 and is expected to exhibit a CAGR of 20.2% over the forecast period (2021-2028).
Key companies are focused on product launches, in order to enhance the market presence. For instance, in April 2020, Razer Inc. introduced Razer Huntsman Elite keyboard in U.S.
Major companies are involved in product launches, in order to gain a competitive edge in the market. For instance, in November 2017, Rapoo Corporation introduced Rapoo 8900P wireless mouse and keyboard combo.
North America held dominant position in the global mechanical keyboard market in 2020, accounting for 42.1% share in terms of volume, followed by Europe and Asia Pacific respectively.
Figure 1. Global Mechanical Keyboard Market Value (US$ Mn), by Region, 2020
Market Dynamics- Drivers
Although PC consumption has reduced in the recent past, the PC gaming market is expected to witness significant growth in the near future. This, in turn, has increased the demand for gaming accessories such as mechanical keyboards in the market. According to Coherent Market Insights’ analysis, PC games are expected to grow 1.8x during the forecast period 2016-2020. Furthermore, by 2018, revenue generated from sales of PC gaming hardware is expected to reach over US$ 13 Bn. According to the same source, in 2014, the total number of PC gamers was over 700 million globally. Therefore, these factors are expected to drive growth of the global mechanical keyboard market during the forecast period.
As compared to membrane-based keyboards, mechanical keyboards offer richer features sets, which is expected to boost growth of the market in the near future. These features include enhanced performance in terms of response time and tactility required for professionals and gamers, extended durability, i.e. it can support over 50 million strokes as compared to membrane-based stroke that can support 10 million strokes, and augmented user experience with respect to customizable options for key functions, LED backlights, and chassis. Hence, these factors are expected to propel the global mechanical keyboard market growth over the forecast period.
Many market players are introducing advanced features such as synchronization that allows keyboards to communicate efficiently with headsets and mouse. Furthermore, synchronization options with various mobile devices such as smartphones and tablets provide efficient use of devices. Other features such as Cooldown modes to allow countdown on switches since last press is making mechanical boards more and more popular. Furthermore, novel features such as built-in sensor or camera support for movement detection, built-in software support for voice recognition, and slim and quiet appearance can boost the demand for mechanical keyboards.
Major companies are focused on research and development activities, in order to introduce novel products. For instance, in July 2016, Trantek introduced its Raytheon K7 series of metal keycaps, which was previously using transparent keycaps. In July 2016, OMRON Corporation introduced new IO-link products that enable communication down to the sensor level.
|Base Year:||2020||Market Size in 2021:||US$ 1,462.59 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||20.2%||2028 Value Projection:||US$ 5,312.73 Mn|
ZF Friedrichshafen AG – Cherry, Huizhou Greetech Electronics Co. Ltd. – Greetech, Kaihua Electronics Co., Ltd. – Kaihl, Trantek Electronics Co., Ltd. – TTC, OMRON Corporation, Corsair, Razer Inc., Rapoo Corporation, Lenovo, Dell HP Development Company, A4TECH, and SteelSeries
|Restraints & Challenges:||
Certain keyboard manufacturers focus on manufacturing their own keyboard switches in order to reduce their dependency on third-party switch manufacturers and reduce the cost of the overall product. Key manufacturers such as Roccat Studios and Razer Inc. initiated the production of a mechanical keyboard with their own proprietary switches.
Certain keyboard manufacturers lay emphasis on enhancing key switch functionality such as increasing the number of keys in N-key rollover function and inclusion of anti-ghosting features, in order to improve gaming experience and functionalities for various professionals. For instance, in August 2014, Razer Inc. launched ‘Razer Blackwidow’, a mechanical keyboard with features such as 10 key rollover, anti-ghosting, and five additional dedicated macro keys having a lifespan of 60mn strokes.
Figure 2. Global Mechanical Keyboard Market Share, By Application, 2020
Key Takeaways of the Graph:
Market Dynamics- Restraints
Mechanical keyboards are often marketed as premium products with enhanced features such as orientation, adjustability, and layouts, software, and pricing. Basic mechanical keyboards are priced between US$ 50 and US$ 90, while high-end mechanical gaming keyboards offering more advanced features and specifications such as wireless and Bluetooth connectivity, antimicrobial protection, and illuminated keys, carry a price tag exceeding US$ 200. Thus, these factors are expected to hamper the global mechanical keyboard market growth over the forecast period.
Desktop-based PC sales have dipped significantly in the recent past, due to rising demand for smartphones and tablets. According to Coherent Market Insights’ analysis, in 2014, the total shipment of desktop PC was valued at 130 million units. Furthermore, by 2020, total shipments of desktop PC are expected to reach over 120 million units. Therefore, such factors are expected to hinder growth of the global mechanical keyboard market during the forecast period.
Key players operating in the global mechanical keyboard market are ZF Friedrichshafen AG – Cherry, Huizhou Greetech Electronics Co. Ltd. – Greetech, Kaihua Electronics Co., Ltd. – Kaihl, Trantek Electronics Co., Ltd. – TTC, OMRON Corporation, Corsair, Razer Inc., Rapoo Corporation, Lenovo, Dell HP Development Company, A4TECH, and SteelSeries.
Mechanical keyboards are full-sized keyboards, also referred to as full-size keyboards. The advantage of a full-size keyboard is that it provides the user with an extensive amount of home row keys and a comfortable experience. Full-size mechanical keyboards usually have five or six rows of full-sized keys, with individual key clusters for each row. Some full-size keyboards also have macro keys which allow the user to launch different commands at different times; this allows the user to perform complicated operations with just one single keystroke.
Rapid growth in the PC gaming market is a prime factor driving growth of the mechanical keyboard market. Moreover, availability of enhanced features compared to membrane-based keyboards is another major factor fostering growth of the market.
On the other hand, high cost of the mechanical keyboard is expected to hinder growth of the market.
Key features of the study:
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