Gaming Peripheral Market Size, Share & Trends Report

Gaming Peripheral Market Size, Share & Trends Analysis Report By Product (Headsets, Keyboard, Mice, Controller), By Device, By Type, By Distribution Channel, By Region, And Segment Forecasts, 2020 - 2025

  • Published Date: May, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68038-557-1
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2018
  • Number of Pages: 120

Report Overview

The global gaming peripheral market size was valued at USD 3.88 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 10.4% from 2020 to 2025. Growing popularity of virtual gaming in the recent years has resulted in an accelerated development of gaming peripherals. Growing popularity of e-sports and increasing number of gamers globally are expected to drive demand for the market. Virtual games and e-sports also have led to the development of gamepads and special gaming keyboards, which can be customized and provide better ergonomics to the user, which is expected to drive the market growth. Increasing demand for realistic and immersive gaming experience has created the need for peripheral devices, superior quality gaming consoles, and body sensors. 

U.S. gaming peripherals market size

In the recent years, with inception of new games and formats for a vast audience, the trend of online games has had a far reaching impact on the market growth. For instance, Nintendo continues to dominate the market with the series of switch console since its launch in 2017. In addition, access to a wide variety of generation of games has developed a trend wherein the games are designed according to gamer’s preference, interests, and platforms.

Prominent companies allocate a sizeable budget for marketing and advertising campaigns to promote gaming platforms and products that enable the companies to create a high awareness for gaming peripherals among gamers. These strategies help the companies with access to a wide reach of audience with potential opportunities. Additionally, introduction of high-end displays and virtual reality headsets, which helps in enhancing gaming experience and growing demand for enhanced gaming experience are encouraging key players to develop advanced products. For instance, in June 2019, Valve Corporation, a developer of games and gaming peripherals, launched Valve Index, a virtual reality headset for gamers. The headset utilizes 1440×1600 LCD panel having resolution of 2880×1600, which provides enhanced gaming experience.

Gamers are now spending heavily on consoles and peripherals as gaming has become a mainstream market owing to the creation of social apps as gamers have created social groups to enhance the experience. The growing popularity of e-sports and various gaming tournaments such as League of Legends World Championship, PUBG Global Championship, and Call of Duty World League (CWL) are further driving demand for advanced peripherals, which help gamers to improve their gaming skills. In addition, hardware developments have gained a huge attention as currently 8th Gen Consoles has gained popularity in the market owing to its upgradable hardware, which supports games at up to 4K resolution. Availability of a wide range of entertainment options enables new avenues for market growth over the forecast period.

However, high cost is expected to pose as a challenge to the gaming peripheral market growth. The increasing availability of counterfeit products may act as a major hurdle to the growth over the forecast period. Consumers with a lack of awareness about the brand and quality usually opt for products offering similar features at a considerably low price. The increasing adoption of these counterfeit products, owing to their low prices, especially in emerging countries such as China, Indonesia, and Taiwan, is expected to hamper the growth. Growing COVID-19 pandemic across the globe is causing ripple effects on the market. The pandemic has impacted the manufacturing and supply of these peripherals across the globe owing to the shutdown of manufacturing facilities. For instance, in March 2020, Konami Holdings Corporation announced delay in the production of TurboGrafx-16 Mini console for indefinite time due to the spread of COVID-19.

Product Insights

The headsets segment dominated the market with a share of over 30% in 2019. On the basis of product, the market is segmented into headsets, keyboard, controllers, mice, and others. In the recent years, mice has undergone several hardware changes and developments such as plug and play, integral support and built-in ports is anticipated to drive demand for mice segment over the forecast period. For instance, since the advent of PlayStation 2 many consoles now have USB built-in ports that support the regular PC hardware/software with ease of installation.

Keyboards segment is expected witness a considerable growth over the forecast period. Simulation techniques used in the gaming models require gamer’s precision that helps them to level up within the game environment. Hence, keyboards are effective in helping the gamer to attain a high level precision. In another instance, the wireless keyboards are gaining a wide popularity among gamers owing to high flexibility and ease while playing games.

Device Insights

The PC segment dominated the market in 2019 with a share of over 60% and is expected to maintain its dominance over the forecast period. Various features such as facial recognition and gesture-based gaming, coupled with high-quality graphics and improved playing experience, are expected drive the demand for PC segment. Vendors emphasize on mid-level gaming PCs for revenue generation based on availability of graphics and computing. Gaming PCs are generally custom-made with requirements such as high-end processor, Graphics Processing Unit (GPU), overlocked processor, and liquid cooling, among others with an objective to generate a high interest and enthusiasm among gamers.

Gaming consoles exhibit a high probability for rapid growth in near future based on increasing popularity, availability of compact size for hardware, and demand for user-friendly interface. Increasing number of hardcore gamers across the globe is driving the demand for an enhanced gaming experience. This in turn is expected to encourage console developers to introduce innovative and advanced consoles. For instance, Microsoft Corporation’s upcoming next-generation console Project Scarlett will offer advanced gaming console. Through the new architecture of console, the games on Xbox 360 and original Xbox Games will experience improved boot and load times, improvement in performance, and stable frame rates.

Distribution Channel Insights

Offline distribution channel dominated the market in 2019 with over 52% of revenue share, owing to the significance of retail market, marketing and publicity. For instance, in U.S. console, peripherals, and PC games are distributed through game stores such as Wal-Mart and specialty game stores such as Gamestop. Majorly, the retail distributions deal in large-budget games under a partnership. However, specialty game stores deal in small-budget games under a profit sharing model.

Europe gaming peripherals market share

Online distribution is also termed as digital distribution, which is anticipated to witness a high-growth in near future. Digital distribution is gaining traction as several vendors are emphasizing on digital sales such as Amazon.com; PlayStation Store; Flipkart Private Limited; and eBay Inc. In addition, vendors are now facilitating the sale of peripherals through centralized services by creating their own platforms for users. Internet proliferation and increase in number of web platforms for buying gaming platforms tends to be pivotal in the growth of the online segment.

Type Insights

The wired segment is expected to expand at a CAGR of over 10% from 2020 to 2025. On the basis of type the market is segmented into wired and wireless. Factors such as use of high-end, flash memory, and DVD drives are still prevalent in the industry. In addition, the industry witnessed a high demand for wired devices especially among youths based on preference. Other factors such as low cost and low maintenance are also expected to trigger its demand.

Rising preference for wireless and smart peripherals as it offers benefits such as compatibility and ease-of-use is anticipated to drive the demand for wireless segment. Rising popularity of video games and computers have created a niche demand for wireless peripherals. Furthermore, vendors in the market are continuously focusing on the developing advanced and wireless peripherals. For instance, in August 2019, CORSAIR launched a wireless keyboard, CORSAIR K57 RGB. The keyboard is integrated with SLIPSTREAM WIRELESS and CAPELLIX RGB LED technology.

Regional Insights

North America region dominated the market with a share of over 35% in 2019. This dominance can be attributed to presence of key manufacturers such as Microsoft Corporation, CORSAIR, Mad Catz, and Turtle Beach. Increasing popularity of online games, availability of custom-made devices and production of good content is anticipated to boost the regional market growth. On the other hand, consumer trends such as high spending on video games and peripherals as compared with other entertainment platforms have also been contributing to its growth.

Asia Pacific is anticipated to register significant growth over the forecast period, attributed to the increasing number of gamers and strong presence of market vendors in the region. Increasing number of gaming competitions organized by various vendors in the region to advertise their gaming peripherals in further anticipated to drive the growth. For instance, in September 2019, Acer Inc. and its gaming laptops and peripherals brand Predator organized Asia Pacific Predator League.

Key Company & Market Share Insights

Mergers and acquisitions, product launches, and collaborations are some of the growth strategies adopted by major vendors. For instance, in September 2019 Logitech announced the acquisition of Streamlabs. The acquisition would allow the former company to integrate all their hardware with Streamlabs OBS to offer better playing experience to users.

Key players are also investing in research and development activities to expand and develop peripherals and accessories. The companies are focusing on developing new or substantially improved products and processes. For instance, in 2018, Razer Inc. invested USD 76.3 million in research and development activities to develop advanced peripherals, software, solutions, and accessories. The company’s research and development team continuously tracks the development of new technologies to develop new products and services that meet the market standards. Some of the prominent players in the gaming peripheral market include:

  • Cooler Master Technology Inc.

  • CORSAIR

  • Logitech

  • Mad Catz

  • Plantronics Inc.

  • Rapoo Corporation

  • Razer Inc.

  • Reddragon USA

  • SteelSeries

  • Turtle Beach

Gaming Peripheral Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 4.25 billion

Revenue forecast in 2025

USD 6.96 billion

Growth Rate

CAGR of 10.4% from 2020 to 2025

Base year for estimation

2019

Historical data

2014 - 2018

Forecast period

2020 - 2025

Quantitative units

Revenue in USD million and CAGR from 2020 to 2025

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, device, type, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil

Key companies profiled

Cooler Master Technology Inc.; CORSAIR; Logitech; Mad Catz; Plantronics Inc.; Rapoo Corporation; Razer Inc.; Reddragon USA; SteelSeries; Turtle Beach

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2020 to 2025. For the purpose of this study, Grand View Research has segmented the global gaming peripheral market report based on product, device, type, distribution channel, and region.

  • Product Outlook (Revenue, USD Million, 2014 - 2025)

    • Headsets

    • Keyboard

    • Controller

    • Mice

    • Others

  • Device Outlook (Revenue, USD Million, 2014 - 2025)

    • PC

    • Gaming Consoles

  • Type Outlook (Revenue, USD Million, 2014 - 2025)

    • Wired

    • Wireless

  • Distribution Channel Outlook (Revenue, USD Million, 2014 - 2025)

    • Online

    • Offline

  • Region Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Brazil

    • Middle East & Africa

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