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Global Gaming Peripheral Market is Projected to Reach USD 8,690 million by 2027 – Astute Analytica

CHICAGO, UNITED STATES, October 12, 2022 /EINPresswire.com/ -- The global gaming peripheral market size was US$ 4,895.7 million in 2021. The global gaming peripheral market is expected to grow to US$ 8,690 million by 2027 by registering a compounded annual growth rate (CAGR) of 10% during the study period, i.e., 2022-2027.

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Factors like growing investments in the gaming peripheral, e-sports, and a significantly rising number of gamers globally are expected to pave the growth path for the gaming peripheral market. Additionally, the growing demand for realistic and immersive gaming experiences is expected to bring untapped growth opportunities for the global gaming peripheral market during the study period. Apart from that, the e-sports industry has strong potential in the future due to growing internet penetration, which is opening doors of opportunities for the global gaming peripheral market. For instance, Saudi Arabia pulled the veil off its investment worth 142 billion riyals (US$ 38 billion) in September 2022, dedicated to transforming the kingdom into a hub for esports by 2030. However, factors like high initial cost and the presence of counterfeit products may impede the market's growth.

Market Segmentation
Output devices segment holding the lion's share
Output Devices are leading with a massive share of 54.9% in 2021, while the input devices segment is expected to grow at a significant growth rate of 11.2%. Input gaming peripheral devices include controllers, gamepads, gaming mice, headsets, joysticks, keyboards, etc., while output devices include AR/VR headsets, gaming headsets, printers, speakers, and others. The output gaming peripheral devices segment holds the lion's share of 55% and is expected to maintain its lead in the industry in the coming years, owing to the growing popularity of e-sports and virtual gaming.

The gaming console segment maintains its lead, based on platform type
On the basis of platform, the gaming console segment is expected to maintain its lead in the coming years, owing to the growing popularity of gaming consoles, combined with the factors like the rising trend of compact size consoles for hardware and user-friendly interface. The gaming console market is expected to exhibit the highest CAGR of 10.5% during the study period. The majority share of the segment is also attributable to the growing number of launches attracting more opportunities. For instance, Zilliqa pulled the veil off the prototype version of its Web3 gaming console in September 2022.
Wireless connectivity exhibits the highest growth rate of 11%

The wired segment is leading with the highest share 62.7%, while the wireless connectivity segment is expected to grow at an excellent CAGR of 11.1%. Based on connectivity, the wireless connectivity segment is expected to register the highest growth rate, owing to the growing inclination towards smart and wireless peripherals. Additionally, the rising demand for virtual video games and smart PC will present opportunities for the market. Additionally, vendors and key market players are also focusing on the development of wireless devices as they reduce the risk of wire damage and are more convenient, which will contribute to the industry's growth.

The online segment is gaining significant popularity, in terms of distribution channel
The gaming peripheral market is divided into online and offline channels, in which the online segment is holding a massive share. Market leaders are concentrating on digital sales and online offerings due to high internet usage across the globe and the emerging 5G trend. Additionally, the online distribution channel is seeing tremendous market growth owing to the rapid expansion of web platforms and the internet.

Individual segment leading with the highest market share
Based on end-users, the individual segment is leading with the lion's share of 51.1% in 2021, while the enterprise will grow at the highest CAGR of 10.6% during the analysis period. The massive share of the individual segment is linked to the growing interest of users in e-sports and growing government initiatives to promote the development of e-sports.

North America is maintaining its dominance with a high share of 34.4%
North America is maintaining its lead in the gaming peripheral market with a massive share of 34.4%, owing to the growing investments in video gaming and e-sports, along with the rising trend of custom-made devices. The region is also home to a large number of industry giants such as Kingston Technology Company Inc., Razer Inc, Turtle Beach Corporation, etc., which is also contributing to the regional market's growth.

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Competitive Landscape
Some of the leading industry players in the gaming peripheral market include Mad Catz, Sharkoon Technologies, HP Development Company L.P., Kingston Technology Company Inc, Cooler Mater Technology Inc., Redragon Zone, Corsair Components Inc, Logitech International S.A, SADES Technological Corporation, Rapoo, Razer Inc, Alienware (Dell), Anker Innovation Limited, Gamdias, Guillemot Corporation S.A., Sennheiser electronic GmbH & Co. KG, SteelSeries, Thermaltake Technology Co. Ltd., Turtle Beach Corporation, GIGA-BYTE Technology Co Ltd, etc.

Companies in the industry are working on expanding their geographical hold and increasing their user base through new launches. For instance, Anker Innovations established its first flagship store in the UAE in September 2022, which is located in City Centre Mirdif and holds the brand's new collection of innovations. Moreover, Alienware, one of the prominent industry giants dealing in the gaming peripheral market, launched its low-cost variant of the QD-OLED gaming monitor with FreeSync. Therefore, such efforts are expected to invite opportunities for the gaming peripheral market.

Segmentation Overview
Global Gaming Peripheral Market is segmented based on the input device, output device, platform, connectivity, distribution channel, end user, and region. The industry trends in the global marketplace are subdivided into different categories in order to get a holistic view of the gaming peripheral market.

Following are the different segments of the Global Gaming Peripheral Market:
By Device Segment:
Input Device
 Controller
 Gamepads
 Gaming Mice
 Headsets
 Joysticks
 Keyboards
 Steering Wheel
 Web Camera
 Others
Output Device
 AR/VR Headsets
 Gaming Headsets
 Head-mounted Display
 Printer
 Speakers
 TFT and CRT Monitor
 Others (Graphics Card, Digital Camera etc.)

By Platform Type:
Gaming Consoles
PC (Desktop/Laptop)

By Connectivity:
Wired
Wireless
 Bluetooth
 Wi-Fi
 Others

By Distribution Channel:
Online
Offline

By End User:
Individual
Enterprises
Commercial
 Game Parlors
 Theme Parks/ Amusement Centers

By Region:
North America
U.S.
Canada
Mexico

Europe
Western Europe
UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe

Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific

Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA

South America
Argentina
Brazil
Rest of South America

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About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

Aamir Beg
Astute Analytica
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