IT Peripherals Market: Introduction
- A computer system consists of three major units that carry out its primary function – input, output, and storage units. Many other internal and external devices connect to the computer directly and add functionality to it. These devices are called IT peripherals.
- The term IT peripherals denote all hardware components that are linked to a computer and are controlled by the computer system but are not the essential components (motherboard, CPU, and power supply, etc.).
- IT peripherals, in other words, can also be defined as devices that can be easily plugged and removed into a computer system. A few examples of peripheral devices are optical disk drive, modem, Bluetooth, memory card reader, digital camera, monitor, printer, and CD-ROM drives.
- A peripheral device provides input/output (I/O) functions for a server and computer as an auxiliary computing device without computing-intensive functionally, and it includes various types of hardware such as mouse, keyboard, monitor, printer, webcam, scanner, and USB flash drives.
IT Peripherals Market: Dynamics
IT Peripherals Market: Key Drivers
- The input device converts instruction and incoming data into a binary code in a pattern of electrical signals that are understandable to a digital computer. The output devices reverse the process, interpreting the digitized signal into a form intelligible to the user.
- The input devices are used to enter the data and information into a computer. For example, a keyboard will adapt keystroke into characters that can appear on the monitor, while a monitor will transform movements of hands into movements of cursor that are used to interrelate with the operating system program. There are various devices in input peripherals that include microphones, optical scanners, joysticks, and webcams.
- The output devices transform digital signals into information that can be utilized or interpreted by the end-users. For example, a display screen or a monitor will display the operating system on the screen, while a laser printer will convert information saved in Word or Excel into a printed hard copy. The various devices in the output peripheral includes the 3D printer, projectors, and speakers.
- The storage devices are used to store and record data, and it includes CD-ROM, flash memory drives, DVD drivers, and internal and external hard drives. The IT peripheral is located in the external or internal part of the computer system.
- Internal storage devices such as hard disk of SSD are connected with a SATA cable, while display port and HDMI are the popular connections for monitors and display.
- The external storage device is connected via many different types of connections and cables. The most used common connection for external peripherals is USB connection because every computer has several ports, and it provides plug and play features
Impact of COVID-19 on the IT Peripherals Market
- Demand for IT peripherals is increasing during the COVID-19 lockdown situation. The wave of COVID-19 has generated a new directive to learn from home and work from home. Therefore, companies dealing with IT peripherals are experiencing a surge in demand for PCs from commercial and consumer end-users.
North America to Hold Major Share of the Global IT Peripherals Market
- In terms of region, the global IT peripherals market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America dominated the global IT peripherals market in 2020. The U.S. is a key market in the adoption of new technologies. Strong financial position enables the country to invest heavily in the adoption of leading tools and technologies to ensure business operations.
Key Players Operating in the Global IT Peripherals Market
- IBM Corporation
IBM Corporation is a prominent technology company that produces software and hardware. It is also an established research company and one of the leading platform providers of Quantum Computing as a Service. IBM Corporation’s product categories include analytics, cloud, Watson, customer engagement, Internet of Things, industry solutions, IT infrastructure, mobile, and security. IBM cloud services include cloud managed services, cloud advisory services, and cloud migration services
- Intel Corporation
Intel Corporation designs and manufactures integrated processors, platforms, chipsets, circuits, and software solutions, such as Intel security, and embedded software. The company offers a wide range of products - desktops, tablets, SSDs, boards & kits, server products, Intel gateways, modems, and radio frequency transceivers. It provides the solutions for embedded applications for healthcare, automotive, energy, and retail market segments.
Other key players operating in the IT peripherals market include Apple Inc., Arista Networks, Inc., Canon Inc., Check Point Software Technologies LTD., Cisco Systems, Inc., Dell Technologies, Inc., Extreme Networks, Inc., Hitachi, Ltd., Huawei Technologies Co. Ltd., Juniper Networks, Inc., Logitech International S.A., Microsoft Corporation, Palo Alto Networks, Inc., SeikoEpson Corporation, The Hewlett Packard Enterprise Company, Toshiba Corporation, and VMware, Inc.
IT Peripherals Market: Research Scope
IT Peripherals Market, by Product Type
- Input Devices
- Image Scanners
- Pointing Devices
- Output Devices
- Storage Devices
- Hard Drives/SSD
- USB Flash Drivers
- Audio-visual Devices
- Data Projectors
IT Peripherals Market, by End-user
- Media & Entertainment
- Designing (Graphics/ Product)
- Others (Research & Development, Service Sector)
IT Peripherals Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.