Gaming Accessories Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026) – GlobeNewswire
New York, May 03, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Gaming Accessories Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” – https://www.reportlinker.com/p06067806/?utm_source=GNW
– Major gaming console manufacturers like Nintendo and Microsoft have realized the potentiality of AR and are leading the charge. AR can free gamers from ‘their world’ and usher them into the real world to play. For instance, Human Pac-Man is a game that allows the users to wear goggles and chase each other in real life, just resembling the characters in Pac-Man. Such developments are aiding the development of gaming accessories to provide enhanced gaming experience to gamers.
– The rapid growth of e-sports has up-surged the demand for advanced gaming keyboards and gamepads, and the gaming accessories market is expected to grow over the forecast period with the continuous enhancement in gaming content. China is the largest, highest grossing, and the most profitable video game market in the world, since 2015. In esports, China has been the world leader in terms of tournament winnings, possessing some of the best talents in the world across multiple video games, as well as one of the largest pool of video gamers.
– Further, the low supply chain distribution due to coronavirus pandemic could challenge the market growth currently. Nearly 90% of video game consoles imported into the United States in 2019 were manufactured in China. Many gaming companies, especially those that rely on Chinese manufacturers to produce their products, continue to have supply chain disruptions. These include Nintendo Co. Ltd., which is currently struggling to meet the demand for its Switch consoles in the United States. Most of the Switch’s components come from some of the factories in Wuhan, China. Also, Facebook Inc. is facing severe shortages of its Oculus virtual reality headsets in the United States.
Key Market Trends
Console Segment to Witness Significant Growth
– Home consoles primarily dominate the market with various players, such as Sony, Microsoft, and Nintendo dominating the market. Sony has been leading the market with about 70,599 3D gaming consoles sold in North America alone. The increasing demand for gaming console will drive the growth of the gaming accessories market in the forecast period.
– Launch of new gaming content with high graphic requirements? is driving the market. Console gaming is in the transition to on-demand visual content, and this transition has already begun. Microsoft announced the launch of Xbox Series X (the successor of its range-topping Xbox One X gaming console). It will pack vastly more powerful hardware, adding a 4K gaming experience at up to a mind-boggling 120 frames per second, support for gameplay with variable refresh rate, compatibility with 8K displays.
– Coming to innovation, in Sep 2019, NEOGEO Arcade Stick Pro Merged both Gaming Console and Controller in one part where the controller also comes with “start/select” buttons, a turbo switch and ports for HDMI and USB. This innovation will help the user to penetrate more on the console segment due to its unique features.
– Further, social channels are making gaming content easier to access than ever before. Among the weekly users surveyed, 78% of US console gaming buyers use Facebook for gaming-related activities, and 69% use Instagram for gaming-related activities. Increasing accessibility will fuel market growth.
– Diminishing the lines between fantasy and reality, VR is helping create gaming worlds that are more realistic and immersive for today, technology-obsessed gamers. Oculus in the United States sees its future in cordless, self-contained headsets that operate …….