**Embracing Lucrative Opportunities: The Booming Gaming Peripheral Market**
In a recent groundbreaking report, titled “Gaming Peripheral Market Analysis and Forecast from 2023 to 2031,” industry experts shed light on the impressive growth trajectory and immense potential of the keyword market. This thriving sector has become a hotspot for savvy investors and stakeholders looking to capitalize on its rapid expansion.
The report leaves no stone unturned in its comprehensive analysis, delving into a wide range of factors that drive the market’s impressive growth. It meticulously segments the market based on Regions, Country, Company, and other key segments, providing invaluable insights for businesses seeking to make informed decisions and gain a competitive edge.
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The global gaming peripheral market held a market size of USD 4,541.7 Million in 2020, and the market is expected to reach USD 8,690 Million by 2027. The global gaming peripheral market size by volume accounted for 143.22 Million Units in 2020. The market for gaming peripheral is anticipated to register a CAGR of 10% over the assessment period.
The surging popularity of e-sports and online gaming acts as a major driver for the gaming peripheral market. The growing developments in technologies such as 5G, 4G, RFID, Wi-Fi, and bluetooth is anticipated to positively impact the market growth. Further, the growing implementation of the Internet of Things (IoT) in the gaming sector provides suitable conditions for market growth. For instance, first-party Xbox titles such as Forza and Halo are using IoT for enhancing their games. Further, with the rise of the young population in the workforce, the affordability of gaming peripherals has increased which is also expected to catalyze market growth. Further, the growing penetration of smartphones in developing and underdeveloped economies is expected to bolster market growth in the coming years.
Growth Influencers:
The growing popularity of e-sports or virtual gaming around the world
The number of hardcore/casual gamers has increased in recent years. According to the report published by Accenture, globally, there were about 2.7 billion gamers in 2021. In addition, the report also stated that nearly 400 million new gamers are anticipated by 2023. Thus, the growing number of gamers is expected to generate demand for gaming peripherals, thereby boosting the market growth. The increasing popularity of e-sports is expected to provide favorable conditions for market growth. According to the data published by Roundhill Financial Inc., from 2012 to 2018, the viewership of e-sports grew by nearly 195%. Further, well-established sports teams such as VFL Wolfsburg or FC Schalke 04, Cloud9 are engaged in recruiting esports players. In near future, it is predicted that more teams would join e-sports. Further, sponsorship for e-sports is increasing at a considerable rate. For instance, in June 2017, Intel entered into a partnership with the ESL. As per the partnership, all computers utilized for e-sports will be equipped with devices for Intel.
Further, the adoption of virtual gaming has increased significantly. According to the data published by Forbes, there were about 171 million active virtual reality users globally in 2018. Conclusively, the surging popularity of e-sports and virtual gaming is expected to catalyze market growth over the forecast period.
Increased investments pooling in gaming and e-sports
Investments in the online gaming sector are increasing at a considerable rate in several countries. As per the data published by the National Investment Promotion & Facilitation Agency, the Venture Capital (VC) funding for gaming startups in India stood at USD 350 Million in 2014-2020, and it is expected to grow at a CAGR of 22%. Further, Hangzhou, a Chinese city aims to construct 14 e-sports facilities before 2022 and invest nearly USD 2.22 Billion. The increasing investments in online gaming and e-sports are expected to boost the growth of the global gaming peripheral market.
High device cost coupled with increased availability of counterfeit products
The high cost associated with gaming peripherals is anticipated to pose a challenge for the growth of the global gaming peripheral market. In addition, the growing availability and adoption of counterfeit products are expected to negatively affect market growth. The adoption of counterfeit products owing to their low prices is high in countries such as Indonesia, China, and Taiwan. In addition, consumers with less awareness regarding brand and quality generally opt for counterfeit products at low prices.
Segments Overview:
The global gaming peripheral market has been segmented into the device, platform, connectivity, distribution channel, and end user.
By Device
? Input Device
o Controller
o Gamepads
o Gaming Mice
o Headsets
o Joysticks
o Keyboards
o Steering Wheel
o Web Camera
o Others
? Output Device
o AR/VR Headsets
o Gaming Headsets
o Head-mounted Display
o Printer
o Speakers
o TFT and CRT Monitor
o Others (Graphics Card, Digital Camera, etc.)
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The output device accounts for the largest share of more than 50% in the device segment. The adoption of keyboards among gamers is high as it helps attain high-level precision. Moreover, the adoption of wireless keyboards is increasing among gamers due to the high flexibility and ease while gaming.
The input device segment is anticipated to be the fastest-growing segment over the forecast period.
By Platform
? Gaming Consoles
? PC (Desktop/Laptop)
The gaming consoles account for a major share in the platform segment. The rising number of hardcore gamers globally has led to an increased demand for an improved gaming experience. This factor has led to an increase in the adoption of gaming consoles. In addition, prominent market players are involved in developing innovative gaming consoles to meet the growing demands.
By Connectivity
? Wired
? Wireless
o Bluetooth
o Wi-Fi
o Others
The wired segment accounts for the highest market share in the connectivity segment. In the wireless segment, Wi-Fi is anticipated to be the fastest-growing segment.
By Distribution Channel
? Online
? Offline
The online segment is the preferred distribution channel and accounts for the largest market share. Owing to the high penetration of the internet, many vendors are emphasizing the selling of products through online channels.
By End User
? Individual
? Enterprises
? Commercial
o Game Parlors
o Theme Parks/Amusement Centers
The individual segment holds the largest market share based on end-user owing to the increasing number of gamers globally. The enterprise segment is expected to grow a CAGR of 10.6% over the assessment period.
Regional Overview:
On a regional basis, the global gaming peripheral market is segmented into Europe, North America, Asia Pacific, Middle East & Africa, and South America.
North America dominates the global market with a market share of more than 34% owing to the increasing online gamers population and presence of the largest hardware companies for gaming consoles. Europe accounts for the second-largest market share in the global gaming peripheral market. The market growth in this region is attributed to the popularity of esports and online gaming. E-sports is highly popular in Germany, owing to which many gaming companies are planning to expand their presence in the country. In addition, Germany is considered one of the biggest gaming markets in Europe. Further, the U.K. and France are also lucrative markets for gaming peripherals.
Competitive Landscape
Prominent players operating in the global gaming peripheral market include Alienware, Anker Innovations Limited, Cooler Master Technology, Inc., Corsair Components, Inc., Eastern Times Technology Co., Ltd. (Redragon), Gamdias, Guillemot Corporation S.A, HyperX, Kingston Technology Company, Inc., Logitech International S.A, Mad Catz, Razer, Inc., Reddragon, ROCCAT STUDIOS, Sades, Sennheiser Electronic GmbH & Co. KG, Sharkoon Technologies, Shenzhen Rapoo Technology Co., Ltd. SteelSeries, Thermaltake Technology Co., Ltd., Turtle Beach Corporation, and others. The top 20 market players account for a cumulative market share of nearly 65% in the global market.
Market players are engaged in product launches strategic partnerships, mergers, and acquisitions. For instance, in June 2021, Alienware announced the launch of X-series gaming laptops. In addition, in April 2021, Alienware announced the launch of AMD 5000 series gaming laptops.
The global gaming peripherals market report offers insights on the below pointers:
1. Market Penetration: The research report provides comprehensive data on the market offered by the prominent players
2. Market Development: The report offers detailed analysis about emerging markets and examines penetration across mature and new segments of the markets
3. Market Diversification: The research report provides in-depth information about untapped geographies, recent developments, and investments
4. Competitive Landscape Assessment: Mergers & acquisitions, partnerships, regional expansion, certifications, product launches and innovation, collaborations in the market have been provided in this research report. In addition, the report also includes a SWOT analysis of the key market players.
The global gaming peripherals market research report answers questions such as:
1. What is the market size, market volume, and forecast of the global gaming peripherals market?
2. What are the inhibiting factors and impact of COVID-19 on the global gaming peripherals market during the assessment period?
3. Which are the products/segments/applications/channels to invest in over the assessment period in the global gaming peripherals market?
4. What are the technology trends in the global gaming peripherals market?
5. What strategies are considered suitable for successfully entering the global gaming peripherals market?
1. What is the market size, market volume, and forecast of the global gaming peripherals market?
2. What are the inhibiting factors and impact of COVID-19 on the global gaming peripherals market during the assessment period?
3. Which are the products/segments/applications/channels to invest in over the assessment period in the global gaming peripherals market?
4. What are the technology trends in the global gaming peripherals market?
5. What strategies are considered suitable for successfully entering the global gaming peripherals market?
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Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Key Reasons to Purchase this Report:
Strategic Direction: This research report provides insightful analysis and strategic advice for senior executives, decision-makers, professionals, sales managers, and other market stakeholders working in this space. It aids in decision-making and offers strategic recommendations for product advancements.
Comprehensive Analysis: Both economic and non-economic aspects are taken into account in the report’s thorough qualitative and quantitative analysis of the market. For a complete knowledge of market dynamics, it contains a segment breakdown with market evaluations expressed in terms of value (USD Billion) for each segment.
Growth Opportunities: The research highlights the geographies and market categories predicted to expand at the highest rates, potentially positioning them to dominate their respective markets. It offers a thorough examination of consumption trends in various geographic areas and highlights the variables affecting regional market trends.
Competitive Landscape: The competitive landscape section lists the top market rivals and discusses current business expansions, collaborations, product launches, and acquisitions. This data makes it easier to evaluate significant players’ market positions.
Detailed Company Profiles: These include their company description, insights, product benchmarking, and SWOT analysis, providing a thorough picture of the major market participants. Stakeholders are able to assess the advantages and disadvantages of the leading market players due to these profiles.
Future Market Outlook: The study presents recent trends, growth prospects, drivers, challenges, and restraints in both emerging and developed regions. It also includes current and future market outlooks. It gives stakeholders knowledge of potential industry trends and aids in their prediction of upcoming market dynamics.
Industry Analysis: Using Porter’s Five Forces Analysis, the research provides a comprehensive analysis of the industry, looking at factors such as the bargaining power of customers and suppliers, rivalry among businesses, the threat of alternative products, and the threat of new entrants. This research helps to comprehend how fiercely the market is competitive.
Value Chain Insights: Through a thorough examination of the value chain, the research offers insightful information about the market. This aids stakeholders in comprehending the main processes and actors involved in the creation and supply of the good or service.
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