24/7 Customer Support
The global gaming peripheral market is projected to grow at compounded annual growth rate (CAGR) of 10%. The global gaming peripheral market was valued at US$ 4,895.7 Mn in 2021 and is expected to see an opportunity to grow to US$ 8,690.0 Mn by 2027.
The growth of the gaming peripheral market is majorly driven by the growing popularity of e-sports or virtual gaming around the world. The e-sports industry has witnessed remarkable growth over the years, both in terms of viewership and revenue. e-sports has often grown dramatically in terms of popularity, because of the rise in the number of e-sports players and tournaments all over the world and the potential of reaching an engaged and large audience, many companies are significantly investing in e-sports marketing, both directly and indirectly. This has contributed to an impressive surge in revenue growth considering the global scenario. Thus, the constant growth in the popularity of e-sports and virtual gaming has led to the significant development of special gaming peripherals, particularly keyboards and gamepads, which can customize and deliver better ergonomics to the user.
The report inspects the study of the global gaming peripheral market from 2017 to 2017, considering 2017 to 2020 as a historic period, 2021 as the base year, and 2022 to 2027 as the forecast period representing market growth opportunity factors and challenges of the market. The report provides an in-depth analysis across 17 chapters, 284 pages, 83 extensive data tables, and 104 figures.
The report provides a 360-degree analysis of the global gaming peripheral market. The report covers regional analysis tracking North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America accounted to have the largest hold, with a share of around 35% in the global gaming peripheral market in 2021. In the North America gaming peripherals market, the United States majorly contributes to the market growth in the region, with a share of more than 80% in 2021. This is owing to the large-scale investments in video gaming and e-sports coupled with the availability of custom-made devices and the production of good content that will drive market growth in North America. Furthermore, the Asia-Pacific gaming peripherals industry is estimated to grow at the fastest CAGR of 12.8% during the forecast period, with a market share of 22.7% in the global marketplace in 2021.
The global gaming peripheral market report provides a detailed analysis covering global market share, recent developments, regional analysis in the gaming industry including market growth opportunities and challenges in the market.
The study report gives a thorough analysis of the market showing growth factors such as increased investments pooling in the gaming peripheral and e-sports. Recently, in March 2021 StrikerVR has signed a partnership agreement with Immersion, a specialist in haptic feedback technology. This initiative was taken by following an investment of US$ 4 million to enter the consumer virtual reality (VR) space. Similarly, in 2017, British e-sports and games companies that depend on the Midlands could manifold benefit from new government funding, which significant expansion plans of SMEs (small and medium-sized enterprises) related to e-sports as a result, the increased number of investments for the development of e-sports and gaming peripheral businesses is leading to a significant boon to the overall industry, thereby aiding the market growth worldwide.
However, the market also faces certain restraints such as high device cost coupled with increased availability of counterfeit products, the higher cost of most of the gaming peripherals, which are not reasonably priced to the mass consumer base, is one of the prime factors that limit the market growth of the gaming peripheral market. The cost of gaming peripherals is high mainly due to the integration of advanced technologies and hardware installed in these devices. The cost of gaming peripherals is slightly higher than any conventional system, which leads them less preference among the consumers.
Impact of Covid-19 on Gaming Peripheral Market
The global demand for the gaming peripheral market is slightly reduced due to a decline in spending by government and private companies in technological development in the gaming industry, which leads to cutbacks in the production of the advanced gaming device. Besides, the pandemic has abandoned an unprecedented crisis for the nations and manufacturing businesses across the world. This has often resulted in lockdowns and business shutdowns across many countries globally, which has compelled workers/individuals to stay at home to control the spread of the epidemic. Moreover, shutdowns of the manufacturing industry have often disrupted the supply chains due to strict lockdown of countries, which has created stress on the supplies of the several products and services offered by this industry. Combined with the global shutdowns, this has often resulted in disruptions in global gaming peripheral, owing to the government putting on hold their investment or spending for e-sports and advanced gaming devices. This, in turn, is expected to limit the growth of the global gaming peripherals market.
The global gaming peripheral market covers company profiles of various key players in the market around the globe to analyze the competitive landscape in the region based on business profiles of service providers, their strategies, and game-changing developments such as collaborations, mergers, and acquisitions, so on.
Company profiling includes business overview, key officials of company, strategic outlook, product listing, financial analysis, and geographical & business segments in the company. The key players included in the report are 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., Reddragon, Roccat Studios, Sades, Sennheiser Electronic GmbH & Co. KG, Sharkoon Technologies, Shenzhen Rapoo Technology Co., Ltd., SteelSeries, Thermaltake Technology Co., Ltd. and Turtle Beach Corporation among others.
As per the reported study, the global gaming peripheral market is observed to have competitive nature and is projected to shift towards consolidated nature. The threat for new entrants is moderate because of the need for high capital investment in terms of development cost, business setup cost, legal cost, and other costs creating an entry barrier for the new entrants that reduce the overall threat level of a new entrant.
By Distribution Channel
|Market Size Value in 2021||US$ 4,895.7 Mn|
|Expected Revenue in 2027||US$ 8,690.0 Mn|
|Unit||Value (USD Mn)|
|Segments covered||By Device, Connectivity, Distribution Channel, End-User, and Region|
|Key Companies||Alienware, Anker Innovations Limited, Corsair Components, Inc., and other prominent players.|
|Customization Scope||Get your customized report as per your preference. Ask for customization|
Global Gaming Peripheral Market is projected to grow at a CAGR of 10% during the forecast period 2022-2027.
The growing popularity of e-sports, increasing number of gamers globally, introduction of high end displays and virtual reality headsets, increased investment in gaming peripheral and increased demand for realistic experience.
Global Gaming Peripheral Market is estimated to generate US$ 8,690 Million by 2027.
Online segment has the highest share in the Global Gaming Peripheral Market in 2022-2027.
Based on the connectivity type, the Global Gaming Peripheral Market is bifurcated into wired and wireless (Bluetooth, Wi-Fi and Others).
The market has been classified into North America, Europe, Asia Pacific, Middle East & Africa (MEA) and South America.
The wired technology accounts for the largest market share in the Global Gaming Peripheral Market.
Factors such as higher initial cost, lack of standardization and increased availability of counterfeit products inhibit the market growth.
Individual end user segment is projected to be the most lucrative segment over the forecast period.
Gaming console segment dominates the global gaming peripheral market due to rapid growth based on growing popularity, accessible compact size for hardware and user-friendly interface.
Asia Pacific region is estimated to grow at the fastest CAGR during the forecast period.
The key players operating in the global market include Alienware (Dell), Anker Innovation Limited, Cooler Mater Technology Inc., Corsair Components Inc, Redragon Zone and Turtle Beach Corporation among others.