Gaming Hardware Market Size, Share and Global Trend By Product Type (Consoles & Accessories), By End User (Commercial & Residential) and Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
Gaming hardware includes a wide range of peripherals or consoles which are used to enhance the gaming experience of users. High-end joypads, mechanical keyboards, pro headsets, dedicated monitors, etc. are some gaming hardware available for gamers. The video games industry generated a revenue of around US$ 135 Bn in 2018 contributing in the growth of the gaming console market which witnessed the most significant growth with revenues increasing by 15.2% in the year 2018.
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The increasing internet penetration and rise in E-sports across major regions, a large number of advanced multiplayer games are urging gamers to opt for high-end consoles and peripherals owing to massive public coverage and high sponsorship as established teams are recruiting e-sports players.
Games with superfast frame speeds and the introduction of the Internet of Things (IoT) in gaming would create new enthusiasm is gamers to opt for high-end consoles and peripherals. Moreover, the need for real-life representation in the gaming experience and advanced consoles such as PlayStation 4 Pro Xbox One X, etc. with advanced features would also create new opportunities for the global gaming market.
KEY PLAYERS COVERED
The Key players of the gaming hardware market include Microsoft Corporation, Nintendo Co Ltd., NVIDIA Corporation, Sony Corporation, Logitech International S.A, and Venom UK Ltd, Oculus VR, Playstation, Linden Research, Sega games, etc.
SEGMENTATION
Segmentation | Details |
By Product Type | · Consoles · Accessories |
By End User | · Commercial · Residential |
By Geography | · North America (USA and Canada) · Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe) · Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific) · Latin America (Brazil, Mexico and Rest of Latin America) · Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa) |
The market and demand for gaming hardware from residential end-users are expected to rise during the forecast period as compared to commercial owing to increased penetration of gaming hardware globally backed by interest and ability to invest in equipment.
REGIONAL ANALYSIS
Due of an entrenched PC gaming culture, sizeable young population, and growing consoles popularity, the Asia Pacific Region particularly China, India and Japan would lead the world in both growth and market size of gaming hardware. Citing this growth opportunity, Nvidia to add more than 100 new gaming cafes in India. Europe is also expected to experience good growth in the gaming hardware market owing to high purchasing power and faster adoption of gaming systems in the residential and commercial sectors. The sales of gaming hardware rose more than 1 Bn in 2017 across the region becoming the second largest user base of gaming consoles. UK, France, and Germany dominate the gaming hardware market in this region as Germany has the highest number of gaming hardware producers.
In North America, the US accounted for sales of more than 1.3 million units of gaming hardware as the overall total consumer spending on video gaming reached around $9 billion in 2018 across the region becoming the region having the largest users of different gaming consoles.
Key Industry Developments |
· June 2017: Apple’s acquired eye tracking pioneer SensoMotoric Instruments for a better experience of gaming. · February 2017: Kolor and Microsoft’s purchase of automated 3D optimization software vendor Simplygon to improve its already existing HoloLens technology. · January 2016: Magic Leap raised US$ 827 Mn to develop a head-mounted virtual retinal display that superimposes 3D computer-generated imagery over real-world objects. |
- Ongoing
- 2023
- 2019-2022
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