Global Gaming Gadgets Market Size, Share & Trends Analysis Report By End Use, By Gadget Type, By Distribution Channel, By Age Group (21 to 35, Below 20, and 35 & Above), By Regional Outlook and Forecast, 2024 - 2031

Global Gaming Gadgets Market Size, Share & Trends Analysis Report By End Use, By Gadget Type, By Distribution Channel, By Age Group (21 to 35, Below 20, and 35 & Above), By Regional Outlook and Forecast, 2024 - 2031

The Global Gaming Gadgets Market size is expected to reach $158.3 billion by 2031, rising at a market growth of 12.3% CAGR during the forecast period.

This region's dominance can be attributed to several factors, including its large and growing population of gamers, the increasing popularity of esports, and the widespread adoption of mobile gaming. Countries like China, Japan, and South Korea are major hubs for gaming culture, with well-established gaming communities and significant investments in gaming infrastructure. Additionally, the region's technological advancements and strong manufacturing capabilities have made it a key player in the production and innovation of gaming hardware. Thus, the Asia Pacific region acquired 41% revenue share in the market 2023.

The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In August, 2024, Sony Corporation unveiled Sony PlayStation Portal, a handheld gaming device. This handheld device lets gamers play PS5 games over home Wi-Fi with console-quality controls and DualSense features. It features an 8-inch full HD screen, up to 60fps gameplay. Additionally, In July, 2024, Logitech G unveiled the G309 LIGHTSPEED Wireless Gaming Mouse, featuring dual-wireless connectivity, HERO 25K sensor, and LIGHTSPEED technology for precise, low-latency performance. Weighing 86g with a battery, it's POWERPLAY compatible, offers 300 hours of gameplay, and integrates LIGHTFORCE hybrid switches.

Based on the Analysis presented in the KBV Cardinal matrix; Microsoft Corporation is the forerunner in the Gaming Gadgets Market. Companies such as Sony Corporation, HP, Inc. and Dell Technologies, Inc. are some of the key innovators in Gaming Gadgets Market. In August, 2024, Sony Corporation unveiled Sony PlayStation Portal, a handheld gaming device. This handheld device lets gamers play PS5 games over home Wi-Fi with console-quality controls and DualSense features. It features an 8-inch full HD screen, up to 60fps gameplay.

Market Growth Factors

Modern graphics cards, such as those from NVIDIA's RTX series and AMD's Radeon line, offer real-time ray tracing and AI-driven enhancements that provide unprecedented realism and detail in gaming environments. These enhancements enable the creation of more immersive and visually striking gaming experiences by enabling lifelike shadows, reflections, and textures.

Additionally, the visibility of these events on streaming platforms drives interest in eSports and encourages viewers to purchase gaming gadgets to improve their gaming and viewing experiences. Thus, these factors contribute to the sustained growth and dynamism of the gaming gadgets market.

Market Restraining Factors

The constant need to innovate and stay ahead of competitors places substantial pressure on research and development budgets, potentially diverting resources from other critical business areas. Hence, rapid technological advancements present challenges for the growth of the market.

The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Product Launches and Product Expansions.

End Use Outlook

On the basis of end use, the market is classified into residential and commercial. The residential segment recorded 47% revenue share in the market in 2023. The accessibility of gaming gadgets and the availability of a wide range of price points have made it easier for families and individuals to purchase these products.

Gadget Type Outlook

Based on gadget type, the market is bifurcated into console, smartphone, and PCs & laptops. The console segment garnered 47% revenue share in the market in 2023. Continuous innovation and the introduction of next-generation consoles, including the PlayStation 5 and Xbox Series X, have contributed to the console segment's dominance in the gaming devices industry.

Distribution Channel Outlook

Based on distribution channel, the market is segmented into specialty stores, independent retailers, online sales channels, and others. The independent retailers segment acquired 12% revenue share in the market in 2023. Independent retailers, which include small local shops and boutique stores, offer a more personalized shopping experience and often carry a curated selection of gaming gadgets.

Age Group

By age group, the market is divided into below 20, 21 to 35, and 35 & above. The 21 to 35 segments witnessed 48% revenue share in the market in 2023. This segment includes young adults who grew up during the rise of modern gaming and have now reached an age where they possess significant disposable income.

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment witnessed 29% revenue share in the market in 2023. The North American market benefits from strong consumer spending power, with many gamers willing to invest in high-end gaming equipment and accessories.

Market Competition and Attributes

The gaming gadget market is fiercely competitive, driven by innovation and technological advancements. Key attributes include high-performance hardware, immersive user experiences, and integration with emerging technologies like VR and AR. Market leaders focus on ergonomic design, wireless connectivity, and compatibility across multiple platforms to cater to diverse gamer preferences. Continuous R&D and strategic partnerships are pivotal in maintaining market dominance amidst rapidly evolving consumer demands and competitive pressures.

Recent Strategies Deployed in the Market

• In July, 2024, Logitech released the G515 Lightspeed TKL wireless keyboard in India, featuring noise-reducing foam, pre-lubricated switches, built-in stabilizers, and low-profile keys. Available in black and white, it integrates with Lightspeed, Lightsync, and Keycontrol software.
• In June, 2024, Lenovo Group Limited announced the launch of Legion Go, a handheld gaming console. Powered by an AMD Ryzen processor, it features an 8.8-inch display, 16GB LPDDR5X RAM, 1TB storage, detachable controllers, and runs Windows 11.
• In June, 2024, Acer launched the ALG Gaming Laptop in India, featuring a 12th Gen Intel Core i5 processor, up to 16GB DDR4 RAM, Nvidia GeForce RTX 3050 GPU, and up to 512GB SSD storage. It includes a 15.6-inch full-HD display with 144Hz refresh rate and various connectivity options, available on multiple retail platforms.

List of Key Companies Profiled

• Corsair Gaming, Inc.
• ASUSTeK Computer Inc.
• Sony Corporation
• Dell Technologies, Inc.
• Microsoft Corporation
• Lenovo Group Limited
• HP, Inc.
• Nintendo Co., Ltd.
• Acer, Inc.
• Logitech International S.A

Global Gaming Gadgets Market Report Segmentation

By End Use

• Commercial
• Residential

By Gadget Type

• Console
• PCs & Laptops
• Smartphone

By Distribution Channel

• Specialty Stores
• Independent Retailers
• Online Sales Channels
• Others

By Age Group

• 21 to 35
• Below 20
• 35 & Above

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA