Global Gaming Accessories Industry Landscape Analysis, 2021-2026; Featuring Company Profiles of Alienware, Logitech, Razer, Mad Catz, Turtle Beach, Corsair, and More – GlobeNewswire
Dublin, Dec. 23, 2021 (GLOBE NEWSWIRE) — The “Gaming Accessories Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021-2026)” report has been added to ResearchAndMarkets.com’s offering.
The Global Gaming Accessories Market was valued at USD 7.75 billion in 2020, and it is expected to reach USD 15.4 billion by 2026, registering a CAGR of approximately 12.2% during the forecast period (2021-2026).
During the COVID-19 pandemic, several gaming accessory manufacturers experienced shipping delays due to the lack of manufacturing components and raw materials, as most of the manufacturing plants are in China. Once sold the existing inventory, the companies faced insufficient supply of the product.
However, the first quarter of 2020 sales were offset by strong revenue growth year-over-year due to an increase in demand for Corsair Gaming accessories as more people in more countries are under shelter-in-place restrictions. According to the company, shelter-in-place and other similar restrictions have resulted in increased demand for its products because such conditions limited people’s access to alternative forms of entertainment and social interaction. A similar trend is being witnessed by several companies operating in the market.
Further, the increasing adoption of smartphones, rapidly evolving technologies such as virtual reality (VR) and artificial intelligence (AI) are fueling the growth of the market across the globe. 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 e-sports, 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.
Key Market Trends
- Consoles to Witness Significant Growth
- Asia-Pacific to Witness the Highest Growth
The gaming accessories market is highly competitive due to the presence of very few global vendors who hold a high market share. The manufacturers in the worldwide gaming accessories market are primarily focused on improving their portfolio of gaming accessories to stay competitive in the market. Key players are Sony Corporation, Microsoft Corporation, etc.
- January 2021 – Microsoft Corporation announced the launch of Pulse red wireless controllers that can run on multiple devices to switch between an Xbox console, PC, and Android device without having to repeat the setup process every time.
- February 2020 – Logitech G, a brand of Logitech and Herman Miller, announced an exclusive partnership to research, design, and manufacture the next generation high-performance furniture solutions for gamers. Both companies bring years of design and engineering expertise in their respective fields, and combined will address the needs of e-sports athletes, players, and streamers.
Key Topics Covered
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE …….