Gaming Accessories Market Size to Grow USD 23620 Million by 2029 at a CAGR of 11.2% | Valuates Reports

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Nov 08, 2023, 11:28 ET

BANGALORE, India, Nov. 8, 2023 /PRNewswire/ -- Gaming Accessories Market is Segmented by Type (Headset, Mouse, Keyboard, Controller), by Application (Online Sales, Offline Sales): Global Opportunity Analysis and Industry Forecast, 2023-2029. It is Published in Valuates Reports Under the Category of Gaming.

The Global Gaming Accessories market is expected to reach USD 12490 Million in 2023, with a positive growth of %, compared with USD 11350 Million in 2022 which suffered dual impact of COVID-19 and Russia-Ukraine War in the year. Backed with the increasing demand from downstream industries, the Gaming Accessories industry is estimated to reach USD 23620 Million in 2029. The CAGR will be 11.2% during 2023 to 2029.

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Major Factors Driving the Growth of Gaming Accessories Market:

The release of new game content with demanding graphics requirements is a major factor driving the growth of the gaming accessories industry. Moreover, a significant factor propelling the gaming accessories market opportunity is the declining costs of these items. Additionally, the rising number of gamers choosing to pursue careers in e-sports, together with the leagues' continued development, offer lucrative opportunities for the expansion of the gaming accessory industry.

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TRENDS INFLUENCING THE GROWTH OF THE GAMING ACCESSORIES MARKET

The gaming business is growing rapidly worldwide, which is mainly fueling the market for gaming accessories. The global gaming community is growing as a result of the widespread usage of PCs, gaming consoles, and mobile devices. As more people look to improve their gaming experiences, the market for gaming accessories—which may range from specialised controllers and headphones to high-performance keyboards and mice—is growing. One major factor propelling the gaming accessories market is the explosive growth of esports and competitive gaming. To have a competitive advantage, gamers need accessories that are both high-quality and responsive. Professional and amateur gamers alike now consider gaming accessories indispensable, thanks to the rise of esports competitions and the increasing popularity of internet broadcasting.

The industry is expanding due to technological advancements in gaming accessories. The functionality and designs of gaming accessories are always being improved by manufacturers. This includes the incorporation of noise-cancelling microphones in headsets, high-resolution sensors in mice, and mechanical switches in keyboards. These developments improve players' gaming experiences by meeting their varied demands and preferences. The need for universal gaming accessories is being driven by the development of cross-platform gaming, which enables gamers to interact with one another across various gaming platforms. Accessories for gamers must work with a variety of platforms, including PCs, mobile devices, and consoles. The market for gaming attachments that provide cross-compatibility, ease, and adaptability has grown as a result of this.

Consumers are becoming increasingly ready to spend money on high-end gaming accessories as disposable income rises in many areas. There is a strong demand for high-end gaming peripherals with features like RGB lighting and mechanical switches. The industry is growing because gamers are prepared to spend more money on accessories that improve their gaming experiences.

One of the main factors propelling the gaming accessories market is the growing appeal of virtual reality gaming. Specialised accessories including motion controllers, haptic feedback devices, and VR headsets are needed for VR gaming. There will likely be a large increase in demand for these accessories as virtual reality technology develops and becomes more popular.

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GAMING ACCESSORIES MARKET SHARE ANALYSIS

Over the course of the projection period, the Asia-Pacific area is expected to continue developing at the quickest rate. The increasing number of professional gamers in the Asia-Pacific region is one of the main drivers propelling market expansion. In addition, the industry is expanding due to improvements in wireless technology and a rise in the popularity of online gaming.

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Key Players:

A4Tech
Rapoo
Samsung Electronics
Genius (KYE Systems Corp)
Sony Group Corporation
Corsair Gaming
MADCATZ
Roccat
Mionix
Cougar
AZio
Cooler Master Technology
Dell Technologies
HP
Logitech International
Razer
Sennheiser Electronic
Turtle Beach Corporation
Mad Catz Global Limited

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