The global gaming peripherals market is expected to grow rapidly, owing to increase in the number of gamers globally. The headsets sub-segment is expected to be most profitable. The North America region is expected to dominate the market by 2028.
Research Dive has added a new report to its offering titled, “Gaming Peripherals Market by Component (Headsets, Keyboard, Controller, Mice, and Others), Peripheral Device Type (PC and Gaming Consoles), Connectivity (Wired and Wireless), Distribution Channel (Online and Offline), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028”.
According to the report, the global gaming peripherals market is expected to generate a revenue of $10,905.8 million by 2028, growing rapidly at a CAGR of 10.5% during the forecast period 2021-2028.
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Dynamics of the Market
Increasing prevalence of e-sports participation coupled with the surging number of hardcore and casual gamers across the globe is expected to drive the growth of the gaming peripherals market during the forecast period. In addition, surging demand for augmented reality and virtual reality in games is further expected to create tremendous opportunities for the growth of the market during the forecast period. However, extortionate cost of gaming peripheral devices such as joystick, gaming mouse, keyboards, etc. is predicted to hinder the growth of the growth of the gaming peripherals market during the forecast period.
COVID-19 Impact on the Gaming Peripherals Market
The outbreak of coronavirus has had moderate impact on the growth of the global gaming peripherals market, owing to the prevalence of lockdowns in various countries across the globe. Lockdowns adversely affected the production, supply chain, and other operation of the gaming peripherals but the demand for games has significantly increased during the pandemic, driving a consistent demand even in the post-pandemic period. Thus, the pandemic has had a moderate impact on the growth of the gaming peripherals market.
Segments of the Market
The report has divided the market into various segments based on component, peripheral device type, connectivity, distribution channel and region.
- By component, the headsets sub-segment is expected to be most profitable, and generate a revenue of $3,465.5 million during the forecast period. Ability of the gaming headset to block external noise and optimize in-game communication provides an immersive experience for the gamer. This factor is expected to bolster the growth of the gaming peripherals market sub-segment during the forecast period.
- By peripheral device type, the PC sub-segment is predicted to be most beneficial, and generate a revenue of $6,391.0 million during the forecast period. Its immaculate features like gesture-based gaming and facial recognition, along with high quality graphics and enhance playing experience is expected to accelerate the growth of the sub-segment during the forecast period.
- By connectivity, the wired sub-segment is expected to be most lucrative, and generate a revenue of $8,025.1 million during the forecast period. Wired devices are much more reliable as it does not face any battery issues, which is prime aspect among gamers while playing hardcore games. This factor is expected to stimulate the growth of the gaming peripherals market sub-segment during the forecast period.
- By distribution channel, the online sub-segment is expected to be most remunerative, and generate a revenue of $6,159.2 million during the forecast period. Availability of wide range of products and remarkable discounts provided by the online retailers is expected to foster the growth of the gaming peripherals market sub-segment during the forecast period.
- By region, the North America region is expected dominate the market, and generate a revenue of $3,716.7 million during the forecast period. Increasing prevalence of online gaming tournaments in this region is expected to drive the growth of the market. In addition, high standard of living among people, enabling them to extravagantly spend on games is further expected to bolster the growth of the regional gaming peripherals market during the forecast period.
Top 10 Gaming Peripherals Brands and Development Strategies
- Logitech
- Razer
- Mad Catz
- Plantronics Inc.
- Ducky
- Corsair
- HyperX
- ZOWIE
- Cooler Master Technology Inc.
- SteelSeries, and many more.
These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain the market growth.
For instance, in February 2021, HP Inc., an illustrious American multinational information technology company, entered into a definitive agreement to acquire HyperX, the gaming division of Kingston Technology Company, that develops, manufactures, sells and supports flash memory products and other computer-related memory products, in order to assist HP’s strategy to drive growth in its Personal Systems business.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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