DUBLIN–(Business Wire)–The “Gaming Accessories Market – Growth, Trends, and Forecast (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.
The gaming accessories market is expected to reach a CAGR of 9.5% during the forecast period of 2020 – 2025.
Increasing adoption of smartphones, rapidly evolving technologies such as virtual reality (VR) and artificial intelligence (AI) are fueling the growth of the market across the globe.
- Alienware (Dell)
- Logitech International SA
- Razer Inc.
- Mad Catz Global Limited
- Turtle Beach Corporation
- Corsair Components Inc.
- Cooler Master Co. Ltd
- Sennheiser electronic GmbH & Co. KG
- Reddragon (Eastern Times Technology Co. Ltd)
- Nintendo Co. Ltd
- Sony Corporation
- Nvidia Corporation
Key Market Trends
Console Segment to Witness Significant Growth
Home consoles primarily dominate the market with various players, such as Sony, Microsoft, and Nintendo dominating the market. Sony has been leading the market with about 70,599 3D gaming consoles sold in North America alone. The increasing demand for gaming console will drive the growth of the gaming accessories market in the forecast period.
- Launch of new gaming content with high graphic requirements? is driving the market. Console gaming is in the transition to on-demand visual content, and this transition has already begun. Microsoft announced the launch of Xbox Series X (the successor of its range-topping Xbox One X gaming console). It will pack vastly more powerful hardware, adding a 4K gaming experience at up to a mind-boggling 120 frames per second, support for gameplay with variable refresh rate, compatibility with 8K displays.
- Coming to innovation, in Sep 2019, NEOGEO Arcade Stick Pro Merged both Gaming Console and Controller in one part where the controller also comes with “start/select” buttons, a turbo switch and ports for HDMI and USB. This innovation will help the user to penetrate more on the console segment due to its unique features.
- Further, social channels are making gaming content easier to access than ever before. Among the weekly users surveyed, 78% of US console gaming buyers use Facebook for gaming-related activities, and 69% use Instagram for gaming-related activities. Increasing accessibility will fuel market growth.
- Diminishing the lines between fantasy and reality, VR is helping create gaming worlds that are more realistic and immersive for today, technology-obsessed gamers. Oculus in the United States sees its future in cordless, self-contained headsets that operate like gaming consoles. This standalone Quest virtual reality headset has 80 percent media and 20 percent gaming, where the Oculus Quest is emphatically gaming-focused.
Asia-Pacific to Witness the Highest Growth
Asia-Pacific holds the largest market share, where Southeast Asia holds the most significant revenue share. Countries, like China, Japan, Australia, and South Korea, are the prime gaming hot spots of the world, which are estimated to generate more than 40% of the gaming industry’s revenues annually.
- Also, by 2021, the number of mobile online gamers in Southeast Asia will rise to 250 million. Indonesia, Malaysia, Thailand, Vietnam, Singapore, and the Philippines are the six most significant countries for mobile gaming in Southeast Asia.