Gaming Gadgets Market Size Is Expected To Grow At A CAGR Of 9 Percent Through 2021 To 2027, Reaching Nearly USD 65 Billion.
According to the Stellar Market research report “Gaming Gadgets Market with COVID-19 Impact Analysis by Offering, Process, System, Industry and Region- Global Forecast to 2027”, the Gaming Gadgets market size is expected to grow from USD 65 Billion in 2020 to USD 118.82 Billion in 2027; it is expected to grow at a CAGR of 9 Percent from 2021 to 2027.
Gaming Gadgets Market Outlook:
Gaming devices are open-source gaming portable constructions that offer video and sound playback. Gaming has turned into a fantastic and exciting platform. The use of AR and VR is exploding, and businesses are capitalising on these innovations to the fullest extent possible, resulting in explosive industry growth. Customers are becoming increasingly interested in various gaming genres such as action, role play, simulation, and strategy.
The rapid rise of e-sports has boosted demand for advanced gaming keyboards and gamepads, and the gaming accessories market is likely to expand over the forecast period as gaming content improves. Since 2019, China has become the world’s largest, highest-grossing, and most profitable video game market. China has been the world leader in eSports tournament winnings, with some of the greatest players in the world across many video games and one of the largest pools of video gamers.
The rise of eSports has also been a trend that has fueled the region’s games business. In countries other than China, such as Indonesia, Vietnam, and Malaysia, rising viewership and a growing tendency toward e-sports have opened up new potential for gaming accessories. Demand for video games on consoles is increasing as a result of the adoption of eSports, and this trend will continue in the future.
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Gaming Gadgets Market Regional Insights:
Asia-Pacific has the biggest market share, with Southeast Asia accounting for the majority of sales. China, Japan, Australia, and South Korea are the world’s top gaming hotspots, generating more than 40% of the gaming industry’s annual revenue. In addition, the number of mobile internet gamers in Southeast Asia is expected to reach 250 million by 2021. The six most important countries for mobile gaming in Southeast Asia are Indonesia, Malaysia, Thailand, Vietnam, Singapore, and the Philippines.
Various new platforms are also being developed in order to boost Asia-Pacific growth by expanding the scope of local content. Furthermore, the industry is likely to expand further as the number of 5G connections in the country grows. For example, Qualcomm Technologies and ZTE announced a joint demonstration of 5G-powered cloud gaming on a live 5G network in June 2019. As a result of new game releases and increasing players, such developments will drive the expansion of gaming gadgets in the region.
Gaming Gadgets Market Competitive Landscape:
Due to the presence of only a few global vendors with a large market share, the gaming accessories market is extremely competitive. To stay competitive in the global gaming accessories market, manufacturers are largely focused on expanding their line of gaming accessories. Sony Corporation, Microsoft Corporation, and others are key players. January 2021 – Microsoft Corporation announces the release of Pulse red wireless controllers, which can be used to swap between an Xbox console, a PC, and an Android device without having to go through the setup procedure again.
Gaming Gadgets Market Key Players:
Nintendo Co., Ltd. (Kyoto, Japan)
Sony Corporation (Tokyo, Japan)
Microsoft (New Mexico, United States)
Atari, Inc. (California, United States)
Hyperkin, Inc. (California, United States)
Razer Inc. (California, United States)
NVIDIA Corporation (California, United States)
Valve Corp. (Washington, United States)
Dell Technologies (Texas, United States)
Turtle Beach (California, United States)
Corsair Components Inc. (California, United States)
Cooler Master Co. Ltd (Taiwan)
HyperX (California, United States)
SteelSeries (Denmark)
Reddragon (Hongkong)
Gaming Gadgets Market Segmentation:
By Gadget
PlayStation
Xbox
Nintendo Switch
Others
By Product
Handheld Consoles
Home Consoles
By Age Group
Below 25 years
26- 35 years
36-50 years
51 years & Above
By Region
North America
Europe
Asia Pacific
MENU
South America
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Stellar Market Research, an India-based consulting and advisory company, was founded in 2018 with the goal of helping clients reach their business transformation goals through consulting services and strategic business planning. As a strategic knowledge partner, the company’s goal is to be an integral part of the client’s business. The firm makes recommendations to help shape future organizations. Since its establishment in November 2018, the company has been fully funded by revenue. To date, the company has worked with more than 335 companies in 25 industries to provide reliable data with 94% accuracy.
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