Gaming Accessories Market Current Generation Video Game Console Unit Sales Worldwide 2021 Million Units
Gaming Accessories Market Gaming Accessories Market Growth Rate By Region
Dublin, Aug. 18, 2023 (GLOBE NEWSWIRE) — The “Gaming Accessories Market – Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)” report has been added to ResearchAndMarkets.com’s offering.
The global gaming accessories market is projected to experience a strong compound annual growth rate (CAGR) of approximately 12.2% during the forecast period. The growth in the market can be attributed to several key factors and trends.
During the COVID-19 pandemic, the gaming accessory manufacturers faced shipping delays due to the lack of components and raw materials, as many manufacturing plants are located in China. However, the strong revenue growth year over year was supported by increased demand for gaming accessories from consumers who were subject to ‘shelter-in-place’ restrictions. With limited access to alternative forms of entertainment and social interaction, more people turned to gaming, leading to higher demand for gaming accessories.
The increasing adoption of smartphones and the rapid evolution of technologies like virtual reality (VR) and artificial intelligence (AI) are fueling the growth of the gaming accessories market worldwide. Major gaming console manufacturers such as Nintendo and Microsoft are recognizing the potential of augmented reality (AR) and leading the charge in its adoption. AR technology can provide unique gaming experiences by blending virtual elements with the real world.
The rapid growth of e-sports is also driving demand for advanced gaming keyboards and gamepads. The continuous enhancement of gaming content is expected to further boost the market. China, in particular, has been the world’s largest, highest-grossing, and most profitable video game market, with a significant presence in e-sports.
The console segment is witnessing significant growth, dominated by major players like Sony, Microsoft, and Nintendo. Innovations in gaming keyboards and controllers are intensifying competition among manufacturers and offering gamers various choices to enhance their gaming experiences.
Asia-Pacific holds the largest market share