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Rising Work from Home Culture, and Rise in Gaming Drives New PC Sales
HP, or Hewlett Packard has reported a significant increase in sales as demand for work from home PC devices continues to rise. Moreover, the rising connectivity from home has also forced small businesses to purchase more security accessories to safeguard operation. In the new mobile working culture, organizations, and consumers continue to demand accessories like physical switches to kill webcams, and long-term connectivity accessories. The pandemic has also provided an impetus for PC gamers, thanks to closure of offices, and schools. HP reported over 50% growth in gaming related accessories in some parts.
Electronic PC Accessories Market to Witness Significant Reduction in Costs
The electronic PC accessories market promises robust growth as alloys like Titanium and new methods of fibre binding, and 3D printing promise to drive down costs significantly. Moreover, the market will also prosper significantly, thanks to the new recycling techniques like biohydrometallurgy, leaving behind its counterpart like pyrometallurgy. The new recycling method promises to not only reduce costs but also provide significant benefits with overcoming earlier barriers like toxic waste disposal, high capital costs, and secondary waste generation. This will be a major change in the electronic PC accessories market as the e-waste generation in 2019 reached upwards of 53.6 Mt. Moreover, introduction of more stringent regulations across the world to tackle e-waste have increased the barriers, and subsequently growth to manufacturing low-cost electronics accessories. The e-waste in India in 2019 reached 3.23 Mt, 10.1 Mt in China, 13.1 Mt in the US, and 12 Mt in Europe. The recycling of e-waste also promises myriad of new opportunities as it would drive considerable reduction in raw material produce. In 2019, only 17.4% e-waste generated was recycled, while 44.3 Mt remained unprocessed.
Titanium Promises New Applications and Channels for Growth
The electronic PC accessories market will promise new channels for growth for global players as raw materials like titanium offer new product advancements. The raw material is abundant in supply in earth’s crust. Moreover, it offers new advantages like good corrosion resistance, high specific strength, biocompatibility, among others. The use of titanium in mobile accessories including wireless wearable devices, mobile phones, and computers continues to rise. The low-cost production of titanium alloys remains a concern. However, this is likely to be replaced with rising scales of economy in the market.
3D Printing Promises Major Boost as Personalization Looms on the Horizon
On-demand production, enabled by 3D printing will likely become the wave of next-gen manufacturing in the electronic PC accessories market. On one hand, the PC accessories market is witnessing new products like wearable glasses, and PC-connected healthcare technology which enables monitoring of various key organic vitals. Moreover, current 3D printing production has reached levels where on-demand production is a real possibility. Today, digital templates with key specifications, and instruction designs promise to take manufacturing out of factories, and hand-over it to distributors. This technology will make way for personalization in technology offering new designs, far more vibrant offerings, and a personal touch. Moreover, this technology will make it possible to produce goods within minutes, with inputs from the direct customer. The rising investment in technology, and its incessant appeal to consumers will likely drive robust growth in the electronic PC accessories market in near future.
Impact of Covid-19 on PC Accessories Market
The covid-19 pandemic has brought a mixed fortune for the electronic PC accessories market. On one hand, the fall in global incomes has resulted in slowdown in PC sales among average consumers. On the other hand, new trends like mobile working culture, and gaming fads has increased PC sales among employees, and driven new craze for gaming accessories. The market will likely bounce back with new PC sales as incomes, and job market promises to stabilizes in the near future.
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