Gaming Peripherals Market Outlook
The Global Gaming Peripherals Market was valued at USD 5,975.4 Million in 2022 and is projected to reach USD 11,463.5 Million by 2031, expanding at a CAGR of 7.9% during the forecast period. Factors such as increasing demand for pc gaming, rising e-sports participation & popularity, and technological advancements in gaming are boosting the growth of the market.
Gaming Peripherals comprise headsets, gamepads, joysticks, tablet pens, gaming mice, keyboards, and other devices that are used to enhance the gaming experience on a computer or console.
Gaming Peripherals are meant to provide comfort, match the demands and preferences of gamers, and provide them with the tools they need to better their gaming abilities. They have specialized controls, sensors, and software that allow gamers to have more precision and control.
Gaming Peripherals Market Dynamics
Increasing Demand for PC Gaming
Rising demand for PC gaming is expected to boost the global gaming peripherals market in the coming years. According to Corsair Gaming, Inc., one of the leading gaming peripheral manufacturers, around 524 million PC gamers were registered in 2019, globally, including competitive, and casual PC gamers.
Additionally, nearly 94 million gamers spent over $1,000 on gaming PC systems. These gamers, comprising committed and competitive PC gamers, represented nearly $30 billion of the global gaming PC gear market. As a result, demand from consumers for video games, gaming consoles, gaming peripherals, and other connected devices is growing.
Rising E-Sports Participation and Popularity
Rising participation and popularity of e-sports and the growing number of hardcore or casual gamers are projected to drive the global gaming peripheral market during the forecast period.
Hardcore gamers are people who play video games for extended periods of time and use high-tech accessories and peripherals for gaming. Gaming keyboards and gaming mice are in high demand, due to the rise of e-sports and virtual gaming, which enhances the user experience.
High Pricing of Gaming Peripherals
High cost associated with gaming peripheral devices such as gaming keyboards mice, and joysticks is expected to hinder the growth of the gaming peripheral market during the forecast period. High-performance components are in high demand, as PC gaming becomes popular.
Manufacturers are availing the benefits of the market trend and raising prices to increase profits. Rising demand frequently results in price inflation, which is expected to restrain the market in the coming years.
Growing Demand for AR and VR
Factors such as the introduction of virtual reality, high-definition displays, and augmented reality are anticipated to create opportunities in the global gaming peripherals market in the coming years.
Several companies are looking at AR and VR to deliver immersive experiences for gamers, while other companies want to use the technology as a promotional tool for their games and brands. Demand for technologically advanced gaming peripherals is increasing rapidly, which is expected to create massive opportunities in the gaming peripherals market in the coming years.
Scope of Gaming Peripherals Market Report
The report on the global Gaming Peripherals Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Gaming Peripherals Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016 – 2021
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Forecast Period
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2023 – 2031
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Segmentation
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by Product Type (Keyboard, Mouse, Controller, and Headset), by Connectivity (Wired and Wireless), by Device Used (PC/Laptop, TV/Consumer Game Console, and Mobile), by End-use (Personal and Commercial), by Sales Channel (Online and Offline)
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Regional Scope
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North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered
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Logitech, Razer Inc., Corsair Gaming, Inc., HP Development Company, Turtle Beach, SteelSeries, Lenovo, ASUSTeK Computer Inc., Dell Inc., Mad Catz Global Limited, A4TECH, Sony Group Corporation, Rapoo, NEWMEN, Kuro Gaming
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Gaming Peripherals Market Segment Insights:
Based on product type, the global gaming peripherals market is segmented into keyboards, mice, controllers, and headsets. The gaming keyboards segment held a significant market share in 2022. The need for interactive gaming keyboards and the growing gaming industry is raising the demand for mid-priced gaming keyboards.
Based on connectivity, the gaming peripherals market is segmented into wired and wireless. The wireless segment held a substantial market share in 2022, owing to the availability of wired gaming peripherals at low cost and low maintenance.
Wired gaming peripherals are highly adopted by youths, due to the availability of wired gaming peripherals based on consumer preferences. Moreover, the easy availability of high-speed internet and compatible gaming hardware is bolstering the market growth.
Based on device used, the gaming peripherals market is segmented into PC/laptop, TV/consumer game console, and mobile. The PC/laptop segment is projected to expand at a significant CAGR during the forecast period. Computers are constantly adapting into efficient and reliable devices, due to changes in technology and growing consumer needs, along with the latest developments in tablet innovation, online technology, and the Internet of Things.
Based on end-use, the gaming peripherals market is segmented into personal and commercial. The commercial segment is projected to expand at a substantial CAGR during the forecast period. Factors such as the rising number of e-sports tournaments and competitive events boost the demand for gaming peripherals in the gaming industry, which is driving the commercial segment.
Based on sales channels, the gaming peripherals market is segmented into online and offline. The offline segment held a significant share of the market in 2022. Offline stores employ skilled and knowledgeable employees who assist in suggesting compatible peripherals and addressing the concerns and queries of customers.
Region Outlook
On the basis of region, the Global Gaming Peripherals Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market in North America is growing, due to the rising popularity of virtual games in the region. Growing popularity of virtual games and esports has increased the demand for the development of special gaming keyboards and gamepads that are customized to meet the requirements of gamers and provide superior ergonomics to gamers.
Key Benefits for Industry Participants & Stakeholders
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In-depth Analysis of the Global Gaming Peripherals Market
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Historical, Current, and Projected Market Size in terms of Value.
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Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
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Industry Drivers, Restraints and Opportunities Covered in the Study
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Recent Industry Trends and Developments
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Competitive Landscape & Strategies of Key Players
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Neutral Perspective on Global Gaming Peripherals Market Performance
Segments
By Product Type
- Keyboard
- Mouse
- Controller
- Headset
By Connectivity
By Device Used
- PC/Laptop
- TV/Consumer Game Console
- Mobile
By End Use
By Sales Channel
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
By Key Players
- Logitech
- Razer Inc
- Corsair Gaming, Inc
- HP Development Company
- Turtle Beach
- SteelSeries
- Lenovo
- ASUSTeK Computer Inc
- Dell Inc
- Mad Catz Global Limited
- A4TECH
- Sony Group Corporation
- Rapoo
- NEWMEN
- Kuro Gaming
Competitive Landscape
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Top players in the market include Logitech, Razer Inc., Corsair Gaming, Inc., HP Development Company, Turtle Beach, SteelSeries, Lenovo, ASUSTeK Computer Inc., Dell Inc., Mad Catz Global Limited., A4TECH, Sony Group Corporation, Rapoo, NEWMEN, and Kuro Gaming. The players are adopting key strategies such as acquisition, collaborations, and geographical expansion where potential opportunities for the Global Gaming Peripherals Market.