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The gaming peripheral market size is estimated to grow by USD 6.87 billion at a CAGR of 10.39% between 2023 and 2028. Market growth hinges on several key factors, including the growing prominence of e-sports, the expanding accessibility of advanced gaming consoles, and the rise of ultra-high definition (HD) TVs and PCs. E-sports have surged in popularity, driving demand for high-performance gaming equipment and platforms. Concurrently, the widespread availability of sophisticated gaming consoles and cutting-edge display technologies like ultra-HD TVs and PCs has enhanced the gaming experience, attracting a broader audience. These trends reflect a dynamic shift towards immersive and visually stunning gaming environments, fostering innovation in hardware and software development. As consumer preferences evolve towards more immersive gaming experiences, the market for gaming technologies continues to expand, supported by advancements in both gaming content and the underlying technological infrastructure.
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The gaming market is thriving with a diverse array of products and experiences catering to gaming enthusiasts worldwide. Peripheral devices and accessories such as mechanical switches and ergonomic chairs enhance the gaming experience, reflecting a trend towards specialized gaming setups. The rise of game streaming platforms has further boosted the industry, allowing gamers to share their gameplay experiences globally. Internet penetration** has been instrumental in expanding the reach of online gaming, particularly on gaming PCs capable of handling high-performance graphics and gameplay. Popular games like PUBG and Minecraft continue to dominate the landscape, attracting players across traditional board games and video games. This growth is particularly evident in emerging markets, where the demand for PC gaming and associated peripherals is rapidly increasing. As the gaming ecosystem evolves, driven by technological advancements and a growing community of gamers, the market for gaming products and experiences is poised for continued expansion and innovation.
The emergence of ultra-high definition (HD) TVs and PCs is a key factor driving the market growth. Gamers prefer efficiency and premium quality as key components of their systems. Images should be sharp and vivid with accurate colors. Ultra HD TVs and PCs also offer better sound quality. Thus, they prefer to play games on HDTVs and PCs, which require the use of gaming peripherals. Consequently, the increasing sales of HDTVs and PCs are driving the sales of the market.
Moreover, several market players are launching new TV models that support controllers, for example in January 2022, Samsung Electronics Co., Ltd. revealed its vision for the next generation of smart TVs, which will include everything from cloud-based services to video chatting while watching TV to non-fungible tokens (NFTs). The increasing availability of these TVs may drive the growth of the market during the forecast period.
The growing advances in gaming mice are a major market trend. Gaming mice include accompanying software that permits gamers to have full control over the mouse's functionality. Gamers can also control RGB and backlight settings as well as tweak settings like polling rate and mouse sensitivity.
Furthermore, many market players are concentrating on launching new mouse variants, for example in September 2022, Logitech launched 3 new G502 X mice with Lightspeed technology in India. Thus, such product launches with additional features may drive market growth during the forecast period.
The growing popularity of mobile gaming is a challenge that affects the growth of the market. The growing adoption of multimedia and smart devices has accelerated in recent years. The penetration of handheld electronic devices such as smartphones and tablets is increasing the demand for mobile games. Smartphones contribute more than three-quarters of the mobile market revenue, while tablets contribute the rest.
Additionally, the availability of gaming apps on smartphones has made it possible for users to play games from anywhere and anytime as most of the apps are completely free and do not require a set of devices. Additional controls. Gaming peripherals are also not necessary to add comfort to these games. Therefore, the growing adoption of mobile gaming will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Skullcandy Inc.: The company offers gaming peripherals such as keyboards, mice, headphones, gaming surfaces, chargers, USB hubs, and cables.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The controllers segment is estimated to witness significant growth during the forecast period. Video game controllers have evolved over time. Some video game controllers, like the Atari, have a single button and a joystick. The joystick provides precise movements while being simple and easy to use. The latest controller gives users the ability to move in any user-specified direction instead of being limited to the right, left, up, and down directions provided by the directional pad.
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The controllers segment was the largest segment and was valued at USD 3.77 billion in 2018. Some market players are increasing sales and extending market share by establishing new variants of gaming controllers. For example, in April 2020, Sony unveiled its new PlayStation 5 (PS5) controller, which is the DualSense controller. It was launched gradually in Q4 2020 worldwide over several weeks. Therefore, the increasing number of product launches with additional features will drive the growth of the market during the forecast period.
Wired gaming peripherals are attached to a computer or PlayStation via a wire or cable. Wired keyboards produce more clicks and are faster than wireless keyboards. Sony LDAC, XBOX wired controller, and Logitech F310 gamepad are some of the most popular wired peripherals available in the market. Casual gamers do not like to spend more on gaming peripherals. Considering the ongoing cost of peripherals and their speed of deployment, an average wired gaming peripheral costs about 40-45% less than an average wireless gaming peripheral. For these reasons, casual gamers prefer wired gaming peripherals, boosting the growth of the market during the forecast period.
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APAC is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The US is an innovator in e-sports tournaments and is home to several other professional gaming companies. Americans regularly buy games. In the US, more than 60% of households have at least one person who plays games regularly. In the United States, more than USD 10 billion is spent by gamers on game content alone. Online gamers spend an average of more than six hours per week playing with others.
Furthermore, the number of gamers is increasing as gaming is considered a career option. The industry in North America is growing rapidly, which is another driving factor driving the growth of the PC peripherals market in this region. Hence, such factors are expected to drive market growth in this region during the market forecast period.
The market report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market for virtual gaming and associated accessories is expanding rapidly, driven by technological advancements and changing consumer behaviors. Virtual games and specialized gaming peripherals such as gaming keyboards, gamepads, body sensors, and headsets are enhancing the immersive gaming experience. Innovations like haptic gloves, high-definition displays, VR cameras, and virtual reality headsets are redefining how players interact with virtual environments. The INZONE brand is leveraging its manufacturing facilities to meet the growing demand, despite challenges posed by lockdowns, social distancing, and the shift towards remote work and e-learning. High-quality headphones are essential for gamers seeking optimal audio performance in competitive settings. Popular games like Fortnite and League of Legends continue to drive investments and expansions in capacity, with periodic plant turnarounds ensuring efficient production. As the market expands, fueled by an increasing number of gamers in emerging markets, the focus on high-end displays and immersive technologies underscores a vibrant and evolving gaming landscape. Drop is exploring expansions of capacity in specialised gaming within emerging market.
Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.39% |
Market growth 2024-2028 |
USD 6.87 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
9.16 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 38% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Corsair Gaming Inc., COUGAR, Creative Technology Ltd., DuckyChannel International Co. Ltd., GoodBetterBest Ltd., Kingston Technology Co. Inc., Logitech International SA, Mad Catz Global Ltd., Microsoft Corp., Plantronics Inc., Razer Inc., Sennheiser Electronic GmbH and Co. KG, Sentey Inc., Sharkoon Technologies GmbH, Shure Inc., Skullcandy Inc., Sony Group Corp., SteelSeries ApS, Thermaltake Technology Co. Ltd., and TURTLE BEACH CORP. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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