Global Gaming Peripherals Market to Rise at a CAGR of 9.9% and Surpass $14,396.40 Million by 2030, Owing to the Increasing Popularity of E-sports around the World
A gaming peripheral is an input and output device that is connected to a personal computer or a laptop that assists in providing an optimized gaming experience for the user. There are a wide range of peripherals used in gaming such as keyboards, mouse, joystick, specialized controllers, headsets, ergonomic chairs, 4K webcams, and many more. They are capable of substantially enhancing the overall gaming experience for the users whilst increasing their performance levels in the game with minimum or negligible complications.
Forecast Analysis of the Global Gaming Peripherals Market
Surging prevalence of e-sports participation among gamers across the globe is expected to drive the growth of the market. In addition, an increase in the number of hardcore as well as casual players across the globe is expected to bolster the growth of the gaming peripherals market during the forecast period. Furthermore, the growing popularity of augmented reality and virtual reality in games is expected to create massive opportunities for the growth of the market. However, high cost of gaming peripherals is expected to impede the growth of the gaming peripherals market during the forecast period.
According to the report published by Research Dive, the global gaming peripherals market is anticipated to generate a revenue of $14,396.40 million by 2030, growing rapidly at a CAGR of 9.9% during the forecast period 2022-2030. The prominent players of the market include Logitech, Corsair, Ducky, SteelSeries, HyperX, Razer, ZOWIE (BenQ), Cooler Master Technology Inc., Mad Catz, and Plantronics Inc.
Gaming Peripherals Market Trends and Developments
The key companies operating in the industry are adopting various growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, which is subsequently helping the global gaming peripherals market to grow exponentially. For instance,
In March 2020, University of New Haven, a private university in West Haven, Connecticut, USA collaborated with HyperX, a global manufacturer of computer peripherals used by professional gamers and esports organizations, in order to support the University’s pioneering academic programs in esports.
In May 2020, HyperX, the gaming division of Kingston Technology Company, Inc., entered into a strategic collaboration with DuckyChannel International Co., the keyboard manufacturing company, to launch ‘HyperX x Ducky One 2 Mini.’ The new mechanical gaming keyboard features HyperX red linear mechanical switches that are built for performance, longevity, and an 80 mn lifetime click rating per switch.
In October 2021, 100 Thieves, a leading gaming lifestyle organization, acquired Higround, a technology hardware company specializing in design-forward gaming keyboards, in order to strengthen their shared mission and goal of pushing gaming culture forward and reach a growing audience.
In October 2021, GN Group, a Danish manufacturer of hearing instruments and audiological diagnostics equipment and headsets, acquired SteelSeries, a leading manufacturer of gaming peripherals and accessories, including headsets, keyboards, mice, and mousepads, in order to maximize GN Group’s presence in the gaming peripherals market.
Most Profitable Region of the Market
The North America region is expected to be most lucrative, and generate a revenue of $4,740.70 million during the forecast period. Growing expenditure on games by professional gamers due to the high disposable income of the people living in this region is expected to drive the growth of the market. In addition, the presence of prominent players of the market in this region is further expected to accelerate the growth of the regional gaming peripherals market during the forecast period.
COVID-19 Impact on the Market
The outbreak of coronavirus has moderately impacted the growth of the global gaming peripherals market, owing to the occurrence of lockdowns in numerous countries across the globe which adversely affected the manufacturing, production, supply chain, and other operations of the gaming peripherals. On the other hand, the demand for gaming have considerably increased during the pandemic, and hence the market is expected to grow exponentially in the post-pandemic period. Thus, the pandemic has had a moderate impact on the growth of the market.
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