The global IT peripherals market was valued at around USD 84 billion in 2015 and is expected to surpass USD 68 billion by 2020
Procurement market intelligence analysts have announced its latest market research report on IT peripherals for the period 2016-2020. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the public relations services market during the forecast period. Some of the top vendors listed in this industry analysis include Apple, Samsung, HP, Logitech International, and Dell.
In terms of geographical analysis, APAC is expected to be the fastest-growing region in the global market, with a market share of around 24%. Countries like India, China, and the Philippines are expected to emerge as the key revenue generators in the APAC market during the forecast period.
Click here to request a free sample of this report
According to Angad Singh, a procurement specialist at Technavio for research on category spend intelligence, “The convenience and ease of use will increase the demand for wireless keyboards, mice, and printers in the global market. The suppliers in the market are investing in the research and development of wireless peripherals to sustain the competition in the market and increase their profit margins. The sales of Bluetooth devices are expected to reach around 30 million units by 2019 due to a preferential shift toward wireless peripherals.”
For report customization, click here
The new procurement market intelligence report analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Inadequacy of mobile computing
The demand for IT peripherals is expected to increase due to the inadequacy of mobile computing devices. These devices will excel in performing tasks in which mobile computing is inadequate. Some of these include performing tasks such as spreadsheet editing, record maintenance, and data processing. It is estimated that the demand for laptops is expected to pick up by 1%–2% over the next quarter.
Expansion of operations in emerging economies
The suppliers in the global market are investing in developing countries to expand their consumer base and increase their profitability. The leading companies are expanding their operations to emerging economies such as India, China, Singapore, and Malaysia and this will remove a key driver for the IT peripherals market. The IT peripherals market in APAC is expected to grow at a CAGR of 5%–6% through 2020.
Technological advancements
The emergence of new and effective technologies will lead to the development of the global IT peripherals market over the next four years. The introduction of virtual reality and 3D printing is expected to result in the creation of niche subcategories in this market and will encourage businesses to adopt newer technologies. For instance, VR may evolve from being a mixed reality to being completely immersive technology in the market during the forecast period.
A more detailed analysis is available in the procurement market intelligence report titled, ‘Global IT Peripherals – Procurement Market Intelligence Report 2016-2020.’
