Gaming Accessories Market Size to Achieve USD 16,774 Million by 2030 growing at 10.8% CAGR due to the Rapidly Rising Youth Gamers Worldwide - Exclusive Report by Acumen Research and Consulting
Acumen Research and Consulting
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Acumen Research and Consulting
Acumen Research and Consulting recently published report titled “Gaming Accessories Market Size, Share, Analysis Report and Region Forecast, 2022 - 2030”
BERLIN, July 14, 2022 (GLOBE NEWSWIRE) -- The Global Gaming Accessories Market size accounted for USD 6,708 Million in 2021 and is projected to reach a market size of USD 16,774 Million by 2030; growing at a CAGR of 10.8%.
One of the gaming accessories market trends driving industry demand is the growing number of online games. The number of gamers worldwide grows as the number of games increases. For example, according to the most recent 2022 data, over 1 billion people have downloaded Player Unknown’s Battlegrounds (PUBG). As a result, such a large population necessitates a large number of gaming accessories, driving the market value. The gaming accessories industry is also expected to grow as smartphones become more popular around the world. Furthermore, according to our gaming accessories industry analysis, the introduction of augmented reality (AR) and virtual reality (VR) in gaming is supporting market growth.
COVID-19 Impact on the Global Gaming Accessories Market Value
While the COVID-19 pandemic affected the majority of the entertainment industry, the gaming industry as a whole had a minor impact. This was due to government regulations governing the manufacture, production, and distribution of all non-essential products. As a result, this factor had a minor impact on the industry. However, the emergence of the COVID-19 pandemic has given rise to a large number of gaming enthusiasts all over the world. People were trapped inside their homes due to recurring lockdowns, prohibited travel, and work-from-home and study-from-home policies. This factor prompted the sale of PCs, laptops, ergonomic chairs, headsets, and so on. In India, for example, PC sales increased dramatically this year, accounting a record of 4.5 million shipments, the majority of which were credited to gaming laptops and components.
Global Gaming Accessories Market Growth Aspects
The increase in the number of youth gamers across the world primarily boosts gaming accessories sales
According to a recent study, there will be more than 3.2 billion gamers in the world by 2023. 21 percent are under the age of 18, while 26% are between the ages of 34 and 54 in the United States. According to US video game industry statistics, 64% of US adults and 70% of those under the age of 18 regularly play video games. The average age of a gamer is around 34, and more than 70% of gamers are 18 or older. Furthermore, 70% of parents believe video games have a positive impact on their children's lives. As a result of the increased number of gamers worldwide, there is a significant demand for gaming accessories.
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Rising penetration of Smartphone’s fuels the gaming accessories market growth
Over the last decade, Gen Z gamers have shifted from desktops and laptops to portable devices such as Smartphone’s and tablets. So it's no surprise that India will be ranked fifth in the global mobile gaming sector by 2021. According to one report, a young mobile gamer in India spends about USD 3 to 5 per month on average. With mobile games becoming increasingly popular in recent years, as well as a surge in cloud gaming, it's no surprise that demand for comfortable hands-on gaming is on the rise. Keeping this in mind, tech behemoths have begun projects to create their collection of mobile games and other gaming accessories in order to improve the gaming experience for young game enthusiasts.
Gaming Accessories Market Segmentation
The global market has been divided into five sections: component, device type, connectivity type, sales channel, and region. The component segment is further split into controllers, headsets, keyboards, mice, and others. As per our gaming accessories industry analysis, the headsets segment will hold a significant market share during the forecast timeframe from 2022 to 2030.
The device type segment is categorized into gaming PC and gaming console. Among them, the gaming PC sub-segment is likely to attain a considerable market share in 2021 and is expected to continue its dominance over the projected years.
The connectivity segment is divided into two parts: wired and wireless. The wired sub-segment accounted for a sizable portion of the gaming accessories market. Greater connectivity of wired accessories, combined with lower latency and higher sensitivity, is contributing to these devices' larger revenue share in the global gaming accessories market.
Furthermore, the two sales channels considered in this report are online and offline. This type of sales channel is being fueled by consumers' growing preference for online shopping. Furthermore, the growing e-commerce sector and the COVID-19 pandemic have contributed to the leading share of online sales channels.
Gaming Accessories Market Regional Outlook
North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa account for the majority of the global gaming accessories market. According to our gaming accessories market forecast, Asia-Pacific will have the largest market share from 2022 to 2030. The Asia-Pacific gaming accessories industry is being driven by the growing online gaming industry, an increase in the number of young gamers, improved internet infrastructure, increased Smartphone adoption, and rising disposable income.
North America and Europe, on the other hand, are expected to capture a significant market share due to the presence of key players, high purchasing power, and growth in streamers on popular streaming platforms such as Twitch, YouTube, and DLive.
Some key gaming accessories companies covered in the industry include Alienware (Dell), Anker, Cooler Master Co. Ltd, Corsair Components Inc., Logitech International SA, Mad Catz Global Limited, Nintendo Co. Ltd, Nvidia Corporation, Razer Inc., Red dragon, Sennheiser Electronic GmbH & Co. KG, Sony Corporation, SteelSeries, and Turtle Beach Corporation.
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