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The gaming peripheral market size is estimated to grow at a CAGR of 9.41% between 2022 and 2027. The market size is forecast to increase by USD 5,610.35 million. The growth of the market depends on several factors such as the rising popularity of e-sports, the increasing availability of advanced gaming consoles, and the emergence of ultra-high definition (HD) TVs and PCs.
The market covers geography analysis including North America, APAC, Europe, South America, and Middle East and Africa. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021. The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Corsair Gaming Inc., COUGAR, Creative Technology Ltd., DuckyChannel International Co. Ltd., GoodBetterBest Ltd., Kingston Technology Co. Inc., Mad Catz Global Ltd., Microsoft Corp., Plantronics Inc., Razer Inc., Sentey Inc., Shure Inc., Sony Group Corp., SteelSeries ApS, Thermaltake Technology Co. Ltd., Turtle Beach Corp., Logitech International SA, Sennheiser Electronic GmbH and Co. KG, and Sharkoon Technologies GmbH
Figure 1: Gaming Peripheral Market Share
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
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 gaming 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 global gaming peripherals market.
Moreover, several market players are launching new TV models that support gaming 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 gaming 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.
Growing advances in gaming mice are a major trend in the gaming peripheral market. 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 gaming mouse variants, for example in September 2022, Logitech launched 3 new G502 X gaming 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 gaming 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 gaming 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.
This gaming peripheral market report extensively covers market segmentation by type (controllers, headsets, keyboards, gaming mice, and others), and technology (wired and wireless).
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.
Figure 2: Gaming Peripheral Market by Type (2017-2027)
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The controllers segment was the largest segment and was valued at USD 3,531.31 million in 2017. 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 global gaming peripherals 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 gaming 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 global gaming peripherals market during the forecast period.
Figure 3: Gaming Peripheral Market by Region
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APAC is estimated to contribute 35% 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 gaming industry in North America is growing rapidly, which is another driving factor driving the growth of the PC gaming peripherals market in this region. Hence, such factors are expected to drive market growth in this region during the forecast period.
In 2020, the COVID-19 pandemic had a positive impact on the gaming industry in the region, as lockdowns created demand for recreational activities such as gaming. The adoption of enterprise strategies by major players in the gaming peripherals market and the addition of new products in their portfolio will further drive the growth of the gaming peripherals market. Moreover, with the rise of major e-sports and massively multiplayer online (MMO) games, the market has witnessed high demand for gaming peripherals. The US market is also gathering manufacturers of other gaming products, such as Apple TV and game consoles which is expected to drive the growth of the regional market during the forecast period.
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.
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.
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Gaming Peripheral Market Scope |
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Report Coverage |
Details |
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Page number |
172 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.41% |
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Market growth 2023-2027 |
USD 5,610.35 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
8.67 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 35% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Corsair Gaming Inc., COUGAR, Creative Technology Ltd., DuckyChannel International Co. Ltd., GoodBetterBest Ltd., Kingston Technology Co. Inc., Mad Catz Global Ltd., Microsoft Corp., Plantronics Inc., Razer Inc., Sentey Inc., Shure Inc., Skullcandy Inc., Sony Group Corp., SteelSeries ApS, Thermaltake Technology Co. Ltd., Turtle Beach Corp., Logitech International SA, Sennheiser Electronic GmbH and Co. KG, and Sharkoon Technologies GmbH |
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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, and market condition analysis for the forecast period. |
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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. |
We can help! Our analysts can customize this market research report to meet your requirements.
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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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