Gaming Hardware Market Insights
The Gaming Hardware Market is projected to witness rapid growth across the globe. The increasing adoption of gaming platforms will boost the market demand in the next few years. Market Research Future (MRFR) asserts that the global gaming hardware market will escalate from USD 35.2 BN in 2022 to USD 62.04 BN by 2032, growing at a 6.50% CAGR during the assessment period (2023-2032).
Considering the rise in the number of professional gamers and the demand for high-end gaming gear, gaming hardware manufacturers are increasingly working on developing new and innovative devices. Besides, the accelerating online gaming market and advances in VR, AR, and AI technologies fuel the gaming hardware market growth.
Also, the growing penetration of high-speed Internet and smart devices, alongside the digital transformation in the media & entertainment industry, has impacted the gaming industry positively. All these factors support the gaming hardware market. Advancements in technology and high Internet penetration have significantly impacted the gaming hardware market revenues.
Conversely, the high costs of gaming peripherals like DPI mouses and anti-ghost switches are major headwinds restraining the gaming hardware market growth. Nevertheless, the emergence of wireless headsets compatible with PCs and PlayStation consoles with a huge reception range would support the market growth throughout the assessment period.
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Major Players
Leading gaming hardware market players are
- Nintendo Co Ltd.,
- Microsoft Corporation,
- NVIDIA Corporation,
- Logitech International S.A,
- Sony Corporation,
- Venom UK Ltd.,
- PlayStation,
- Oculus VR,
- Sega Games, and
- Linden Research, among others.
Global Gaming Hardware Market – Segments
The market is segmented into product types, end-user, and region. The product type segment is sub-segmented into consoles, accessories, and others. The end-user segment is sub-segmented into commercial and residential. By region, the gaming hardware market is segmented into the Americas, Asia-Pacific, Europe, and the rest of the world.
Global Gaming Hardware Market – Geographical Analysis
North America is the largest market for gaming hardware due to the huge base of gaming enthusiasts. Various gaming companies operating in the regional market are expanding their product offerings resulting in the rapid growth of the market. Besides, the high adoption of online games, alongside the presence of gaming platform providers and professional gamers, boosts the market size.
Also, increased investments to advance cloud computing and related technologies, alongside the increasing penetration of smartphones and high-speed Internet connectivity, substantiate the region's market shares. Moreover, the high penetration of gaming consoles such as PlayStation and Xbox in this region escalates the market value. The growing developments of 5G infrastructures, alongside the rising initiatives and investments by industry players, influence market growth.
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Gaming Hardware Market - Competitive Landscape
The market appears widely expanded and highly competitive due to numerous major players operating at the international and regional levels worldwide. The market is likely to witness fierce competition, with the expected extensions in products, services, and innovations. Gaming hardware manufacturers strive to develop their devices with adept technologies and unrivaled designs & features.
Industry/ Innovation/ Related News
Aug.18, 2023 --- Bethesda Game Studios, an American video game developer, announced that its latest role-playing game can be accessed on Sony Hardware through Xbox App. Though it is not available on PlayStation consoles, Bethesda's open-world RPG can be played on Sony hardware, specifically on compatible Sony Android TVs. Those who cannot afford a new console can still experience the highly anticipated game.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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