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The global gaming peripheral market was valued at US$ 5,219.1 million in 2022 and is expected to see a revenue opportunity worth US$ 13,113.8 million by 2031 at a CAGR of 10.9% from 2023-2031.
The gaming peripheral market is experiencing tremendous growth due to the ever-increasing popularity of e-sports and virtual gaming worldwide. The e-sports industry has seen remarkable growth over the years, with both viewership and revenue reaching unprecedented levels. The rise in the number of e-sports players and tournaments globally has contributed to the growth in popularity of e-sports. Companies are increasingly investing in e-sports marketing, both directly and indirectly, due to the potential to reach a large and engaged audience.
The growth of e-sports has resulted in an impressive surge in revenue growth, especially in the gaming peripheral market. Special gaming peripherals, such as keyboards and gamepads, are being developed to cater to the unique needs of e-sports players. These peripherals offer customized and ergonomic features that provide an improved gaming experience to users. The demand for gaming peripherals is expected to grow at a steady pace as e-sports continues to gain popularity. Manufacturers are constantly innovating to offer advanced and cutting-edge gaming peripherals to cater to the needs of the gaming community. The gaming peripheral market is expected to witness significant growth in the coming years, driven by the rising demand for e-sports and virtual gaming.
With the increasing demand for gaming peripherals, manufacturers are focusing on enhancing the performance and features of their products. They are investing heavily in research and development to create peripherals that offer improved functionality, comfort, and durability. The competition in the gaming peripheral market is intense, and manufacturers are constantly striving to differentiate themselves by offering innovative and unique products.
Popularity of E-sports and Virtual Gaming
The gaming peripheral market is primarily driven by the growing popularity of e-sports and virtual gaming worldwide. The e-sports industry has seen significant growth in recent years, with both viewership and revenue reaching unprecedented levels. This trend has resulted in an increase in the number of e-sports players and tournaments worldwide, driving the demand for specialized gaming peripherals such as keyboards and gamepads.
Advancements in Technology
Advancements in technology have also contributed to the growth of the gaming peripheral market. Manufacturers are constantly innovating and introducing new products with advanced features such as RGB lighting, tactile feedback, and programmable keys. These technological advancements are improving the overall gaming experience and driving demand for gaming peripherals.
High Cost of Gaming Peripherals
One of the significant constraints on the gaming peripheral market is the high cost of gaming peripherals. Specialized gaming peripherals such as mechanical keyboards and high-end gaming mice can be costly, making them inaccessible to budget-conscious consumers. The high cost of gaming peripherals could hinder their adoption and limit the growth of the market.
Competition from Alternative Gaming Platforms
The gaming peripheral market also faces competition from alternative gaming platforms such as mobile gaming and console gaming. Mobile gaming has seen significant growth in recent years, with the availability of powerful smartphones and gaming-focused tablets. Console gaming also remains popular, with companies such as Sony, Microsoft, and Nintendo offering specialized gaming peripherals for their consoles. The increasing competition from alternative gaming platforms could pose a challenge for the gaming peripheral market.
By Device Type
When it comes to device types, the gaming peripheral market is segmented into input devices and output devices. Wherein, the output device segment is leading the market. Some of the most popular gaming peripherals include keyboards, mouse, headsets, game controllers, and VR headsets. Keyboards and mice have been the primary device type for many years, but modern gaming requires more specialized peripherals. Headsets, for example, provide an immersive audio experience, while game controllers and VR headsets enable the user to interact with the game in a more natural way.
By platform the market is categorized into various Platforms such as PC, Xbox, PlayStation, and mobile are important segments in the gaming peripheral market. The gaming console platform is the largest, with a wide range of gaming peripherals available. Wherein, Xbox and PlayStation have their own line of gaming peripherals, while mobile devices have a smaller selection.
Connectivity is another important factor in the gaming peripheral market. Wired peripherals are still the most common, but wireless options are becoming increasingly popular. This allows for more freedom of movement, as well as better sound quality and accuracy. The wired segment is projected to generate more than 60% revenue of the market by 2031.
By End User
End user is a key segment in the gaming peripheral market and is categorized into individual, commercial, and enterprises. Wherein, the individual segment to capture more than 36% revenue of the market by 2031. Professional gamers and esports players require the highest level of performance, while casual gamers and streamers are typically more price conscious. The market is also segmented by age group, with younger gamers and streamers often looking for the latest technology, while the older demographic is more likely to be looking for value products.
North America accounted for the largest share, around 35%, in the global gaming peripheral market in 2022. The United States, in particular, is a significant contributor to the market growth in the region, with a share of more than 80% in 2022. This is attributed to the large-scale investments in video gaming and e-sports and the availability of custom-made devices in the market. Furthermore, the production of high-quality gaming content has also driven the market growth in North America.
In the Asia-Pacific region, the gaming peripheral industry is expected to witness the fastest growth during the forecast period. It is estimated to grow at a CAGR of 12.8% and hold a market share of 22.7% in the global marketplace in 2022. The growth is driven by factors such as the increasing popularity of e-sports and virtual gaming, rising disposable incomes, and growing awareness of gaming peripherals. The increasing number of gaming enthusiasts in countries like China, South Korea, and Japan is also contributing to the growth of the gaming peripheral market in the region.
The Europe market is also growing at a steady pace, with a market share of around 27% in the global market in 2022. The market growth in the region is driven by the increasing number of e-sports players and the demand for advanced gaming peripherals. The Middle East and Africa gaming peripheral market is also expected to witness significant growth in the coming years, driven by the growing number of gaming enthusiasts in the region.
Astute Analytica's comprehensive report on the global gaming peripheral market delves into the competitive landscape of the industry by providing detailed company profiles of the major players operating in the market. The report highlights the strategies, key officials, product portfolio, financial performance, and geographical presence of each company to provide a holistic view of the market.
The global gaming peripheral market includes both local and small-scale players, as well as major industry leaders such as Alienware, Corsair Components, Inc., Logitech International S.A, Razer, Inc., SteelSeries, Sennheiser Electronic GmbH & Co. KG, Kingston Technology Company, Inc., among others. The cumulative market share of the major players is close to 45%, hence there is monopolistic competition in the market
List of Key Companies Profiled:
By Distribution Channel
|Market Size Value in 2022||US$ 5,219.1 Mn|
|Expected Revenue in 2031||US$ 13,113.8 Mn|
|Unit||Value (USD Mn)|
|Segments covered||By Device, By Connectivity, By Distribution Channel, By End-User, By Region|
|Key Companies||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., GIGA-BYTE Technology Co., Ltd., Sades, Sennheiser Electronic GmbH & Co. KG, Sharkoon Technologies, Shenzhen Rapoo Technology Co., Ltd., SteelSeries, Thermaltake Technology Co., Ltd., Turtle Beach Corporation, Other Prominent Players|
|Customization Scope||Get your customized report as per your preference. Ask for customization|
The global Gaming Peripheral market size was US$ 5,219.1 million in 2022.
The global Gaming Peripheral Market is studied from 2018-2031.
Yes, the global Gaming Peripheral Market report includes COVID-19 impact analysis.
The global Gaming Peripheral market is projected to grow at a CAGR of 10.9% during the forecast period 2023-2031 and is expected to reach a value of US$ 13,113.8 million by the end of 2031.
Increased investments pooling in gaming peripheral and e-sports and growing popularity of e-sports or virtual gaming around the world are driving the growth of the global Gaming Peripheral market.
The gaming console segment holds highest CAGR in the global Gaming Peripheral market during the forecast period.
Asia-Pacific region is growing with the highest CAGR during the forecast period.
High device cost coupled with increased availability of counterfeit products is a major limiting factor for the global Gaming Peripheral market growth.
US holds the major share in term of revenue in the North America Gaming Peripheral market.
Increasing penetration of virtual reality and augmented reality technologies in gaming provide a lucrative growth opportunity in the global Gaming Peripheral market.
Device, platform, connectivity, distribution channel, end user, and region are the different segments in the global Gaming Peripheral market.
Alienware, Corsair Components, Inc., Logitech International S.A, Razer, Inc., SteelSeries, Sennheiser Electronic GmbH & Co. KG, Kingston Technology Company, Inc., HyperX, Gigabite, Turtle Beach Corporation (ROCCAT), Mad Catz, Thermaltake Technology Co., Ltd., Anker Innovations Limited, Guillemot Corporation S.A, among others.