New York, USA, March 07, 2023 (GLOBE NEWSWIRE) -- According to the newly published Research Dive report, the global gaming peripherals market is expected to garner $14,396.40 million by 2030 and rise at a stable CAGR of 9.9% in the 2022-2030 timeframe. This comprehensive Research Dive report presents a brief outlook of the current framework of the gaming peripherals market including its priority features like growth drivers, growth opportunities, restraints, and hindrances during the forecast timeframe of 2022-2030. The report also contains all the crucial market figures to help new entrants understand the market easily.
Dynamics of the Market
Drivers: In the recent years, there have been quite a few product advancements by the leading players of the gaming peripherals market. These product advancements are predicted to be the primary growth driver of the market in the forecast period. Additionally, the growth in e-sports participation and an increasing number of gamers is anticipated to push the growth rate of the market higher in the analysis timeframe.
Opportunities: Growing demand for augmented reality and virtual reality is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, acquisitions and similar business expansion strategies by key market players is expected to augment the growth rate of the market.
Restraints: However, according to market analysts, high cost of gaming peripherals may become a restraint in the growth of the gaming peripherals market.
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Impact of Covid-19 on the Market
The novel coronavirus had wreaked havoc in the world. The lockdowns put in place to curb the virus affected various industries and their production cycles. The gaming peripherals market faced a moderate impact of the pandemic. The disruption in global supply chains led to decline in the steady supply of semiconductors and other electronic components which brought down the manufacturing rate and sale of finished goods. However, there was an increase in demand for gaming peripherals as people across the world turned to digital entertainment while staying indoors due to the lockdowns. Thus, the market stabilized despite the pandemic onslaught.
Segments of the Market
The Research Dive report has fragmented the gaming peripherals market across different segments such as component, device type, connectivity type, end-use, and region.
Component: Headsets Sub-segment to be the Most Dominant
By component, the headsets sub-segment is expected to have the largest market share and generate a revenue of $4,602.70 million by 2030. Headsets provide immersive gaming experience by blocking out external noises, adding comfort to the gamer, and facilitating in-game communication. This utility of headsets is expected to push the growth of this sub-segment in the forecast period.
Device Type: PC Sub-segment to Have the Highest Market Share
By device type, the PC sub-segment of the gaming peripherals market is predicted to be the most dominant and garner a revenue of $8,345.40 million by 2030. The various advantages provided by PC gaming peripherals such as facial recognition, gesture-based gaming, and high-quality graphics are anticipated to help this sub-segment to grow in the forecast period.
Connectivity Type: Wireless Sub-segment to be the Fastest Growing
By connectivity type, the wireless sub-segment is expected to have the highest CAGR and generate a revenue of $3,904.20 million by 2030. Product developments by leading players such as Corsair, Logitech, Razor, etc., to provide better battery life and better functionality to wireless peripherals is expected to boost the growth of this sub-segment in the forecast period.
End-Use: Online Sub-segment to Have the Highest CAGR
By end-use, the online sub-segment of the gaming peripherals market is predicted to be the fastest growing one and garner a revenue of $8,407.90 million by 2030. The growing popularity of online retailers such as Amazon, Flipkart, eBay, etc., is anticipated to help this sub-segment to grow in the forecast period.
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Market in the North America Region to be Most Profitable
By regional analysis, the gaming peripherals market in North America region is predicted to register a revenue of $4,740.70 by 2030, thereby possessing the highest market share. Gaming industry is one the fastest growing entertainment industries in the US, which is predicted to be the primary driver of the market in the forecast period.
Prominent Market Players
Some prominent players in the gaming peripherals market are
- Logitech
- Razer
- Mad Catz
- Ducky
- HyperX
- Cooler Master Technology Inc.
- Corsair
- ZOWIE (BenQ)
- Plantronics Inc.
- SteelSeries
These players are introducing and coming up with new technological advancements and innovations to gain a primacy in the market.
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For instance, in February 2021, HP, a leading multinational information technology company, announced its plans to acquire HyperX, a leading manufacturer of high-quality gaming peripherals. This acquisition is predicted to boost the market share of HP and will help the company to cater to the demands of the gaming industry in a better way.
Finally, this comprehensive report also summarizes many crucial facets of the global market including product portfolio, latest strategic developments, financial performance of the key players, and SWOT analysis.
More about Gaming Peripherals Market:
- Top 4 Gaming Peripherals That Provide the Ultimate Gaming Experience
- Global Gaming Peripherals Market to Rise at a CAGR of 9.9% and Surpass $14,396.40 Million by 2030, Owing to the Increasing Popularity of E-sports around the World
