The gaming peripherals market is expected to witness a whopping growth due to massive product advancements and widespread expansion of the gaming industry across the world. The PC sub-segment of the market is expected to be most dominant. The North America region is anticipated to have the most market growth opportunities in the 2021-2028 forecast timeframe.
| Source: Research Dive
New York, USA, March 14, 2022 (GLOBE NEWSWIRE) — According to the report published by Research Dive, the global gaming peripherals market is expected to garner a revenue of $10,905.8 million by 2028 and grow at a stable CAGR of 10.5% over the analysis period from 2021 to 2028. The comprehensive report provides a concise outline of the gaming peripherals market’s current scenario including key facets of the market such as growth factors, challenges, restraints, and various opportunities during the estimated timeframe of 2021-2028. The report also provides all the market figures to help new participants analyze the market easily.
Dynamics of The Gaming Peripherals Market
Drivers: Increased product advancements and business expansion by some major market players across the globe is expected to drive the growth of the gaming peripherals market during the analysis period. In addition, the increased adoption of gaming peripherals for entertainment purposes is further expected to bolster the market’s growth during the forecast timeframe.
Opportunities: Surging demand for gaming peripherals among the younger generations across the world to experience an interactive gaming session is expected to offer ample opportunities for the growth of the market during the forecast years.
Restraints: Cloud gaming is predicted to be an impediment to the growth of the gaming peripherals market in the forecast years, owing to its streamed gaming sessions across various devices with no requirement of expensive hardware.
COVID-19 Impact on the Gaming Peripherals Market
The outbreak of the Covid-19 pandemic has had a moderate impact on the gaming peripherals market, owing to retarded global economy and strict government-led lockdowns in most countries across the globe. This 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 demand of gaming auxiliary devices among the customers.
Segments of the Gaming Peripherals Market
The report has divided the gaming peripherals market into various segments based on component, peripheral device type, connectivity, distribution channel, and region.
Component: Headsets Sub-segment to be Most Beneficial
By component, the headsets sub-segment is anticipated to register a revenue of $3,465.5 million during the forecast years. Headsets effectively block out external noise, adds comfort to the gamer, and offer smooth in-game communication among players. In addition, most players are excitedly using multi-platform gaming-specific headsets for better experiences. These characteristics are driving the growth of the gaming peripherals market sub-segment during the analysis period.
Peripheral Device Type: PC Sub-segment to be Most Dominant
By peripheral device type, the PC sub-segment is expected to surpass $6,391.0 million by 2028 and is anticipated to hold a dominant market share during the forecast period. Advanced features like facial recognition, high-quality graphics, and gesture-based gaming in gaming PCs contribute to the growth of the sub-segments in the market. Moreover, custom-built gaming PCs with specifications like high-end processors, liquid cooling, and graphics processing unit are further boosting the growth of the gaming peripherals market’s sub-segment during the analysis timeframe.
Connectivity: Wired sub-segment to be Most Lucrative
By connectivity, the wired sub-segment is estimated to surpass $8,025.1 million by 2028. Unlike wireless gaming peripherals, the wired ones have greater battery capacity and highly reduce the gaming stress of running out of power among players, making them a reliable option among competitive gamers. This factor is booming the gaming peripherals market sub-segment during the forecast period.
Distribution Channel: Online Sub-segment to be Most Profitable
By distribution channel, the online sub-segment is estimated to garner a revenue of $6,159.2 million during the forecast timeframe. The global popularity of online retailers like Flipkart, Amazon, eBay, etc, and soaring usage of smartphones contribute to the growth of the subs-segment of the gaming peripherals market. Furthermore, the all-time availability and support on online portals with exciting discounts on branded gaming devices is expected to further strengthen the expansion of the online sub-segment during the forecast period.
Region: North America Region to Have Enormous Growth Opportunities
By regional analysis, the North America region is anticipated to have the most growth opportunities and is projected to garner a revenue of $3,716.7 million by 2028. The gaming industry in the US is one of the fastest-growing sectors and has registered several online gaming tournaments. In addition, the region’s high disposable income and extensive availability of internet services are the factors that boost the growth of the gaming peripherals market in the North America region during the forecast period.
Major Gaming Peripherals Market Players
The major players of the gaming peripherals market include
- Plantronics Inc.
- Mad Catz
- Cooler Master Technology Inc.
- ZOWIE (BenQ), 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. – Check which companies have Product advancements, innovations, and business expansion are common strategies
For example, in November 2021, HyperX, one of the leading gaming peripherals teams worldwide, and GameTruck, an established online video game, teamed up to deliver 100 trucks full of gaming headsets and controller chargers across the country. This collaboration was initiated to attract more gamers and expand the growth of the market in Arizona.
The report also sums up many crucial aspects including the financial performance of the key players of the market, SWOT analysis, product portfolio, and the latest strategic developments.
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