Global Gaming Devices Market 2023-2030

Global Gaming Devices Market 2023-2030

Global Gaming Devices Market Size, Share & Trends Analysis Report by Technology (Console Gaming, PC Gaming, Mobile Gaming, and Cloud Gaming), by Device Type (Gaming Consoles, Gaming PCs, Handheld Gaming Devices, Virtual Reality (VR) Gaming Devices, and Others), by End-Users (Home Users/Gamers, eSports Players, Gaming Arcades, and Others), and by Peripherals (Gaming Controller, Earphones, Joystick, Steering Wheels, and Others) Forecast Period (2023-2030)

The global gaming devices market is anticipated to grow at a significant CAGR of 7.5% during the forecast period. The growth of the market is attributed to factors such as technological advancements in gaming devices, the increasing popularity of esports, and the growing number of gamers worldwide. Further, the rising penetration of smartphones and high-speed internet connectivity has boosted the demand for mobile and cloud gaming. For instance, in recent years, the gaming industry has witnessed a surge in cloud gaming services, allowing gamers to stream and play high-quality games without the need for expensive hardware. For instance, in September 2022, M1 launched a cloud gaming service called Zolaz. The subscription is priced at $11.08/month with no contract, and customers who sign up now will receive one free month. M1 customers can sign up for Zolaz online and in the My M1 App. Zolaz is a cloud gaming subscription service that allows customers to play anywhere, anytime, and on any device. The service is designed to work on M1's speedy 5G networks.

Segmental Outlook

The global gaming devices market is segmented based on its technology, device type, end-users, and peripherals. Based on technology, the market is segmented into console gaming, PC gaming, mobile gaming, and cloud gaming. Based on device type, the market is categorized into gaming consoles, gaming PCs, handheld gaming devices, virtual reality (VR) gaming devices, and others. Based on end-users, the market is segmented into home users/gamers, esports players, gaming arcades, and others. Further, based on peripherals, the market is categorized into gaming controllers, earphones, joysticks, steering wheels, and others. Console gaming, which includes gaming consoles such as PlayStation and Xbox, has traditionally been a dominant segment. Among, technology, the mobile gaming sub-segment has witnessed significant growth due to the widespread availability of smartphones and mobile gaming apps.

The Device Type, Gaming Consoles Sub-Segment, Holds a Significant Market Share

The device type, gaming consoles sub-segment, including PlayStation, Xbox, and Nintendo Switch, hold a significant market share, driven by their advanced features and immersive gaming experiences. The growth of the sub-segment is attributed to its advanced features and immersive gaming experiences with the help of powerful hardware capabilities, stunning graphics, extensive game libraries, and exclusive titles. Additionally, the growing demand for online multiplayer gaming and integration with digital services, such as online subscriptions and content streaming, further propels the adoption of gaming consoles among both casual and hardcore gamers. For instance, in August 2022, Reliance Jio launched a game streaming platform called JioGamesWatch. The platform is available on Android, iOS, and set-top boxes. To access JioGamesWatch, users need to download the JioGames app. JioGamesWatch provides users with an array of gaming content, including live gameplay and video-on-demand streaming. The platform is designed to enable creators to go live with any device under low latency and showcase the best of their content to millions of viewers.

Regional Outlooks

The global gaming devices market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). The market can be analyzed at a regional or country level as per the requirement. Among these, the Europe market is anticipated to witness prominent growth over the forecast period, driven by the presence of major gaming device manufacturers and the strong gaming culture in the region. However, the Asia-Pacific region is projected to experience considerable growth in the gaming devices market due to the large population of gamers, increasing disposable income, and growing esports industry in countries like China

Global Gaming Devices Market Growth, by Region 2023-2030

Source: OMR Analysis

The North American Region is Anticipated to Hold a Significant Share in the Global Gaming Devices Market

The North American region is anticipated to hold a significant share of the global gaming devices market. The growth of the market in this region is primarily driven by factors such as a high level of disposable income, a large population of gamers, and a strong gaming culture. North America is home to major gaming console manufacturers, game developers, and esports organizations, contributing to the overall growth of the gaming devices market in the region. Additionally, technological advancements and increasing investments in gaming infrastructure further propel the market growth. For instance, in May 2022, Andreessen Horowitz invested to launch a new vertical fund called Games Fund One, which is exclusively focused on opportunities in the games industry. The fund is worth $600 million and brings a pool of dedicated capital and a new internal structure dedicated to sourcing deals inside the games vertical. The fund will focus on a mix of game studios, gaming infrastructure companies, and metaverse games.

Market Players Outlook

The major companies serving the global gaming devices market include prominent players such as Sony Interactive Entertainment Inc., Microsoft, Nintendo, Dell Inc., and ASUSTeK COMPUTER INC., among others. These market players are considerably contributing to the market growth by adopting various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches to stay competitive in the market. For instance, in June 2022, Sony announced a new gaming gear line called Inzone, which is aimed primarily at PC players. The Inzone line includes several gaming monitors and headsets that are also compatible with PlayStation 5 and other consoles. The monitors and headsets are designed to blend in with the PS5 aesthetically. The Inzone line is Sony's first big attempt at a PC kit since mothballing their Vaio laptop and all-in-one brand way back in 2014. The Inzone H9 wireless noise-canceling gaming headset provides personalized 360 spatial sound for gaming, dual noise sensor technology, a soft headband cushion, and synthetic leather ear pads for wearing comfort.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global gaming devices market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who stands where’ in the market