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The gaming peripheral market size is estimated to grow by USD 5.61 billion at a Compound annual growth rate (CAGR) of 9.41% between 2022 and 2027. 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.
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 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.
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 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 3,531.31 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 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 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 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 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.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market players, 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 Global Gaming Peripheral Market thrives on the increasing popularity of virtual games and online gaming, driving demand for specialized peripherals like gaming keyboards, gamepads, and headsets. Innovations such as body sensors, haptic gloves, and VR cameras enhance immersive experiences, while high-definition displays and RGB lighting cater to discerning gamers. Key players like Sony Group Corporation and emerging brands like Drop and Cosmic Byte compete with offerings like Equinox Neutrino and Kronos Wireless. Advertising campaigns target the gaming community through gaming forums and servers, amplifying brand visibility. Distribution channels encompass both online platforms and offline retailers, with wired peripherals dominating the market alongside advancements in anti-ghosting technology and programmable macros, catering to competitive gaming needs.
Gaming Peripheral Market Scope |
|
Market Report Coverage |
Details |
Page number |
172 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.41% |
Market growth 2023-2027 |
USD 5,610.35 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
8.67 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 35% |
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., 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 |
Market dynamics |
The market growth and forecasting report includes 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. |
Customization purview |
If our market forecasting 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
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