In 2022, the market for gaming hardware is expected to be worth US$35,566 million. Sales of gaming gear are anticipated to increase at a CAGR of 5.1% from 2022 to 2032, reaching a value of US$ 58,662.4 Million.
Sales of virtual reality headsets in the commercial market will increase dramatically in the years to come. As the demand for mobile game applications rises, gaming hardware’s market share will continue to climb. The historical period from 2016 to 2021 saw a 4% value CAGR in the demand for gaming hardware.
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Global Gaming Hardware Market: Drivers and Restraints
The prime factor driving the growth in the global gaming hardware market is the increasing expenditure by gamers on advanced next generation gaming consoles. Moreover, the advent of high definition TV’s and high graphic PC’s and laptops is another factor fuelling more demand for gaming hardware.
This coupled with an increase in number of AAA games requiring high computing and display power, will further fuel the gaming hardware market. Increasing demand for VR is set to drive revenues in the global gaming hardware market, as gamers are showing high inclination towards games which have superfast frame speeds.
Furthermore, with increasing internet penetration and the advent of Internet of Things (IoT), a large number of advanced multiplayer games is creating new enthusiasm is gamers to opt for high end consoles and peripherals. With a large number of gamers still stuck to PC gaming, regular hardware consoles are a reality, as these users shows high inclination towards technology updates, thus driving continuous revenues in the global gaming hardware market.
Global Gaming Hardware Market: Regional Outlook
The Global gaming hardware market is segmented into the seven key regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). APEJ is expected to dominate the global demand for gaming hardware throughout the forecast period, followed by North America and Western Europe.
In APEJ a prominent share of demand is anticipated to come from China, followed by South Korea. However, Japan is also anticipated to account a significant market share for gaming hardware over the forecast period. Western Europe and North America are anticipated to execute a sluggish growth in demand for gaming hardware.
Increasing penetration of PC and Consoles in Latin America is expected to translate into a significantly higher growth rate over the forecast period. Moreover, Eastern Europe and Middle East and Africa are also anticipated to exhibit moderate CAGR over the forecast period compared to the matured markets of North America and Western Europe.
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Global Gaming Hardware Market: Key Players
Some of the major players identified in the global gaming hardware market include
- Sony Corporation
- Microsoft Corporation
- Apple Inc.
- HTC Corporation
- Nintendo
- Linden Research, Inc.
- Activision Blizzard, Inc.
- Sega Games Co., Ltd.
- Oculus VR, LLC
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Argentina, Brazil, rest of Latin America)
- Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
- Asia Pacific (China, India, Japan, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, Rest of MEA)
Global Gaming Hardware Market: Segmentation
The global gaming hardware market is segmented:
On the basis of hardware type,
- Gaming Platform
- PC
- TV
- Smart Phones/Tablets gaming
- Accessories
- Peripherals
- Consoles
- TV Gaming Consoles
- Handheld Gaming Consoles
- Android Gaming Consoles
- Others
- Handhelds
- VR Glass
- Others
On the basis of distribution channel,
- OEM
- Aftermarket
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