The global gaming peripherals market size at USD 4.02 Billion in 2021, and it is estimated to reach USD 6.6 Billion by 2028, with growth at a CAGR of 8.44% from 2022-to 2028. In recent years, the growing popularity of virtual gaming has resulted in the accelerated development of gaming peripherals. The increasing popularity of e-sports and the growing number of gamers globally are anticipated to drive demand for the market. Virtual games and e-sports have also shown the development of gamepads and special gaming keyboards, which can be customized and deliver better ergonomics to the user, which is expected to drive the market growth. The increasing demand for realistic and immersive gaming experiences has created the need for peripheral devices, superior quality gaming consoles, and body sensors.
Gaming peripherals are input and output gadgets connected to a personal computer (PC) or laptop to deliver users a better gaming experience. Users can choose from different peripherals, such as mice, headsets, controllers, and keyboards. Because video games provide an interactive gaming adventure, they have gradually surpassed traditional board games in popularity. It has given the gaming industry growth, particularly among the younger generation worldwide. It has been aided further by the increasing global penetration of the internet and the introduction of gaming laptops and PCs.
The growing interest in e-sports and the increasing number of hardcore or casual gamers are anticipated to propel growth in the PC gaming peripheral market during the forecast period. Hardcore gamers spend a considerable amount of time playing video games and use advanced technology gaming peripherals. The introduction of e-sports and virtual gaming has increased the demand for gaming keyboards and gamepads, enhancing users’ gaming experiences.
Furthermore, committed, competitive, and casual gamers have expended an average of USD 651, USD 179, and USD 14 on gaming PC gear in 2019. As a result, increasing consumer demand for games has increased the demand for gaming consoles, peripheral device types, and other connected products. Similarly, the affordability of these peripheral device types and the rise in youth populations are major factors expected to drive market growth.
The growing number of hardcore or casual gamers and the increasing popularity of e-sports are among the key elements driving the gaming peripherals market. E-sports and virtual games have resulted in the development of specialized gaming keyboards and gamepads that can be customized and deliver the user with better ergonomics. Consumers increasingly require immersive and realistic gaming experiences, resulting in a demand for peripheral device types, high-quality gaming consoles, etc. Furthermore, as the young working population has grown, the affordability of gaming peripheral device types has increased. Furthermore, aspects such as the introduction of augmented reality, virtual reality, high-definition displays, and so on are predicted to catalyze the market’s growth. The demand for gaming peripherals technology in the automotive sector is increasing exponentially, which may create massive opportunities in the coming years.
The increased cost of gaming peripheral device types like gaming mice, keyboards, and joysticks is anticipated to hamper the growth of the peripheral gaming market. Due to the absence of advanced gaming peripherals such as DPI mice and anti-ghost switches, gamers were forced to expend more money on peripherals. It, in turn, is expected to stifle demand for PC gaming peripherals, restraining market growth over the forecast period.
Before the covid-19 period, approximately one-third of the global population formed an active video gamer and is expected to grow in the future, facilitating the demand for gaming peripherals. Moreover, the growing trend for the adoption of gaming as a profession, especially among the youth worldwide, can push the growth of the global market.
During the covid-19 period, the pandemic outbreak has had a moderate effect on the gaming peripherals market, owing to retarded global economy and strict government-led lockdowns in most countries across the globe. It led to a halt in manufacturing and production of the peripherals, thus hampering the market’s growth. In addition, delayed production of gaming peripherals in China further impacted the market, plummeting the customers’ demand for gaming auxiliary devices.
After the covid-19 period, Major companies allocate a sizeable budget for marketing and advertising campaigns to encourage gaming platforms and products that enable the companies to create a high awareness of gaming peripherals among gamers. These techniques help companies access a wider audience with potential opportunities. Additionally, introducing high-end displays and virtual reality headsets, which help improve the gaming experience and the growing demand for the improved gaming experience, encourages key players to develop advanced products.
Based on product, the global gaming peripherals market is segmented into Headsets, Keyboards, Controller, Mica and Others. The headsets segment dominated the global gaming peripheral market. In recent years, mice have undergone many hardware changes and consequences & developments such as plug and play, integral support, and built-in ports are expected to drive demand for the mice segment over the forecast period. For example, since the advent of PlayStation 2, many consoles now have USB built-in ports that support the regular PC hardware/software with ease of installation.
Based on type, the global gaming peripherals market is segmented into Wired and Wireless. The wired segment is expected to expand highest CAGR during the forecast period. Elements such as high-end flash memory and DVD drives are still dominant in the industry. In addition, the industry noticed a high demand for wired devices, specifically among youths, based on preference. Other factors such as low cost and low maintenance are also anticipated to trigger demand.
Based on distribution channels, the global gaming peripherals market is segmented into Online and Offline. Offline distribution channels dominated the market during the forecast period, owing to the importance of the retail market, marketing and publicity. For example, in the US, consoles, peripherals, and PC games are distributed via game stores such as Wal-Mart and specialty game stores such as GameStop. Majorly, the retail distributions deal in large-budget games under a partnership. However, specialty game stores deal in small-budget games under a profit-sharing model.
Based on region, the global gaming peripherals market is segmented into North America, Europe, Asia-Pacific, South America and The Middle East & Africa. North America has the highest share in the global gaming peripheral market. This dominance can be attributed to key works such as Microsoft Corporation, CORSAIR, Mad Catz, and Turtle Beach. The increasing popularity of online games, custom-made devices, and good content production is anticipated to boost the regional market growth. On the other hand, consumer movements such as high spending on video games and peripherals compared with other entertainment platforms have also contributed to its growth.
The companies include Cooler Master Technology Inc., CORSAIR, Logitech, Mad Catz, Plantronics Inc., Rapoo Corporation, Razer Inc., Redragon USA, SteelSeries, Turtle Beach and other prominent players in the global gaming peripherals market.
Key Stakeholders
Report Attribute | Details |
---|---|
Revenue in 2021 | USD 4.02 Billion |
The revenue forecast in 2028 | USD 6.6 Billion |
Growth rate | CAGR of 8.44 % from 2022 to 2028. |
Historical data | 2017 – 2020 |
Base Year | 2021 |
Forecast period | 2022 – 2028 |
Region covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
Key companies Profiled | The key players are cooler Master Technology Inc., CORSAIR, Logitech, Mad Catz, Plantronics Inc., Rapoo Corporation, Razer Inc., Redragon USA, SteelSeries, and Turtle Beach. |
By Product
By Devices
By Type
By Distribution Channel
By Region
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The global gaming peripherals market size at USD 4.02 Billion in 2021, and it is estimated to reach USD 6.6 Billion by 2028, with growth at a CAGR of 8.44% from 2022-to 2028.
The growing interest in e-sports and the increasing number of hardcore or casual gamers are anticipated to propel growth in the PC gaming peripheral market during the forecast period.
The increased cost of gaming peripheral device types like gaming mice, keyboards, and joysticks is anticipated to hamper the growth of the peripheral gaming market.
Cooler Master Technology Inc., CORSAIR, Logitech, Mad Catz, Plantronics Inc., Rapoo Corporation, Razer Inc., Redragon USA, SteelSeries and Turtle Beach are the key players in the global gaming peripherals market.
North America has the highest share in the global gaming peripheral market.
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