Gaming Peripheral Market

Gaming Peripheral Market – Global Industry Size, Share, Trends, Opportunity, and Forecast,

Global Gaming Peripheral Market was valued at USD 42.4 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 10.8% through 2028. The Global Gaming Peripheral Market is undergoing a significant transformation, propelled by the burgeoning gaming industry and the ever-expanding community of gaming enthusiasts. Gaming peripherals, including keyboards, mice, headsets, and controllers, have evolved beyond conventional functionality to offer advanced features such as customizable RGB lighting, ergonomic designs, and high precision sensors. This market is primarily driven by the increasing popularity of esports, where professional gamers demand top-tier peripherals for competitive advantage. Additionally, the rising disposable income among consumers, coupled with a growing interest in high-quality gaming experiences, has led to a surge in demand for gaming peripherals. Technological advancements like haptic feedback, wireless connectivity, and virtual reality integration have further augmented the market's appeal. E-commerce platforms and online retail channels have made these peripherals easily accessible to a global audience, fostering market growth. With gaming becoming a mainstream form of entertainment, the Global Gaming Peripheral Market is poised for continued expansion, driven by innovation, competitive gaming trends, and the constant quest for an immersive gaming experience.

Key Market Drivers

Gaming Revolution and Technological Advancements

The Global Gaming Peripheral Market is witnessing a thriving expansion, propelled by the gaming revolution and rapid technological advancements. With the gaming industry evolving into a mainstream form of entertainment, the demand for high-performance gaming peripherals has soared. Gamers, both casual and professional, seek immersive experiences, driving the market for cutting-edge peripherals such as gaming keyboards, mice, controllers, and headsets. Technological innovations have played a pivotal role, integrating features like customizable RGB lighting, ultra-responsive sensors, ergonomic designs, and haptic feedback. These advancements cater to the discerning needs of gamers, enhancing gameplay and providing a competitive edge. The rise of esports has further fueled the demand, as professional gamers demand precision and reliability from their peripherals. Additionally, the shift towards wireless gaming peripherals has simplified setups and improved mobility, appealing to gamers worldwide. E-commerce platforms and online retail channels have democratized access to a wide array of gaming peripherals, enabling consumers to compare products, read reviews, and make informed choices. As the gaming industry continues to flourish, the Global Gaming Peripheral Market is set to experience sustained growth, driven by technological prowess, competitive gaming trends, and the relentless pursuit of unparalleled gaming experiences.

Growing Esports Industry

The global gaming peripheral market is experiencing significant growth, driven by the rapid expansion of the esports industry. Esports, or competitive video gaming, has gained immense popularity worldwide, attracting millions of viewers and participants. As the esports industry continues to grow, the demand for high-performance gaming peripherals has surged. Gaming peripherals include devices such as keyboards, mice, headsets, controllers, and monitors, which are specifically designed to enhance the gaming experience and provide competitive advantages to players. Professional esports players and enthusiasts are increasingly seeking advanced gaming peripherals that offer precision, responsiveness, comfort, and durability. These peripherals are essential for achieving optimal performance and maintaining a competitive edge in esports tournaments. Manufacturers in the gaming peripheral market are focusing on developing innovative and technologically advanced products to cater to the specific needs of esports players. Features such as customizable RGB lighting, programmable buttons, ergonomic designs, and high-resolution displays are becoming increasingly common in gaming peripherals. Additionally, the growing popularity of streaming platforms and content creation in the esports industry has further fueled the demand for gaming peripherals. Streamers and content creators require high-quality audio and video equipment, such as microphones, cameras, and capture cards, to deliver engaging and professional content to their audiences. The increasing number of esports events, both online and offline, has also contributed to the growth of the gaming peripheral market. These events attract a large number of participants and spectators, creating a need for reliable and high-performance gaming peripherals. Furthermore, the rising investments in esports infrastructure, including gaming arenas, training facilities, and sponsorships, have boosted the demand for gaming peripherals. Companies in the gaming peripheral market are partnering with esports teams and organizations to promote their products and establish brand presence in the esports ecosystem. In conclusion, the growing esports industry is a key driver of the global gaming peripheral market. The increasing demand for high-performance gaming peripherals from professional esports players, enthusiasts, streamers, and content creators has fueled the market's expansion. Manufacturers are continuously innovating and introducing advanced features to meet the evolving needs of the esports community. As the esports industry continues to thrive, the gaming peripheral market is expected to witness sustained growth in the coming years.

Increasing PC Gaming Population

The global gaming peripheral market is experiencing significant growth, driven by the increasing population of PC gamers worldwide. With the rise of gaming as a popular form of entertainment, more and more individuals are turning to PC gaming as their preferred platform. The accessibility and affordability of gaming PCs, coupled with the wide range of gaming titles available, have contributed to the growing PC gaming population. As PC gamers seek to enhance their gaming experience, the demand for gaming peripherals has surged. Gaming peripherals, such as keyboards, mice, headsets, controllers, and monitors, are specifically designed to provide gamers with precision, responsiveness, comfort, and immersive gameplay. Manufacturers in the gaming peripheral market are focusing on developing innovative and technologically advanced products to cater to the specific needs of PC gamers. Features like customizable RGB lighting, programmable buttons, ergonomic designs, and high-resolution displays are becoming increasingly common in gaming peripherals. Additionally, the increasing popularity of esports and competitive gaming has further fueled the demand for high-performance gaming peripherals among PC gamers. Competitive gamers require top-notch peripherals to gain a competitive edge and improve their gaming skills. The growing PC gaming population has also led to the expansion of the gaming peripheral market through online retail channels and e-commerce platforms. Gamers now have easy access to a wide range of gaming peripherals from various brands and sellers, allowing them to compare prices, read reviews, and make informed purchasing decisions. The convenience of online shopping has further contributed to the growth of the global gaming peripheral market. In conclusion, the increasing population of PC gamers is a key driver of the global gaming peripheral market. As more individuals embrace PC gaming and seek to enhance their gaming experience, the demand for high-quality gaming peripherals is expected to continue growing. Manufacturers will continue to innovate and introduce advanced features to meet the evolving needs of the PC gaming community, ensuring sustained growth in the gaming peripheral market in the coming years.

Rising Disposable Income and Gaming Enthusiast Culture

The global gaming peripheral market is experiencing significant growth, driven by the combination of rising disposable income and the growing gaming enthusiast culture. As disposable income levels increase across various regions, more individuals have the financial means to invest in gaming peripherals to enhance their gaming experience. Gaming enthusiasts, who are passionate about gaming and seek to immerse themselves fully in the virtual world, are willing to spend on high-quality gaming peripherals that offer superior performance, comfort, and customization options. These enthusiasts view gaming as a form of entertainment and self-expression, and they value the added benefits that gaming peripherals provide. Manufacturers in the gaming peripheral market are capitalizing on this trend by developing innovative and technologically advanced products that cater to the specific needs and preferences of gaming enthusiasts. Features such as customizable RGB lighting, programmable buttons, ergonomic designs, and high-resolution displays are becoming increasingly common in gaming peripherals, appealing to the desires of gaming enthusiasts. Additionally, the rise of esports and competitive gaming has further fueled the demand for high-performance gaming peripherals. Competitive gamers, who strive for precision and responsiveness in their gameplay, are willing to invest in top-notch peripherals to gain a competitive edge. The growing gaming enthusiast culture has also led to the expansion of the gaming peripheral market through online retail channels and e-commerce platforms. Gamers now have easy access to a wide range of gaming peripherals from various brands and sellers, allowing them to compare prices, read reviews, and make informed purchasing decisions. The convenience of online shopping has further contributed to the growth of the global gaming peripheral market. In conclusion, the combination of rising disposable income and the growing gaming enthusiast culture is driving the global gaming peripheral market. As more individuals have the financial means and passion for gaming, the demand for high-quality gaming peripherals is expected to continue growing. Manufacturers will continue to innovate and introduce advanced features to meet the evolving needs and preferences of gaming enthusiasts, ensuring sustained growth in the gaming peripheral market in the coming years.

Key Market Challenges

Compatibility and Fragmentation

The Global Gaming Peripheral Market faces significant challenges rooted in compatibility and fragmentation issues. With an ever-expanding array of gaming devices, each designed with specific interface standards, consumers often find themselves in perplexing situations. Gaming peripherals, ranging from controllers to keyboards, come with diverse connectivity requirements. This variation in interfaces, like USB-A, USB-C, or proprietary connectors, creates a maze of compatibility challenges. Gamers frequently encounter the need for multiple adapters and cables, leading to confusion and inconvenience. The rise of next-gen consoles and PCs, each with distinct port configurations, exacerbates this problem. Manufacturers and industry stakeholders grapple with the intricate landscape of standards, aiming to ensure seamless compatibility. The rapid evolution of gaming technology, including consoles, PCs, and mobile platforms, further intensifies the challenge, demanding continual adaptation and innovation in peripheral design.

Counterfeit and Low-Quality Products

The market for gaming peripherals is plagued by the proliferation of counterfeit and substandard products, posing significant risks to user safety and gaming device health. These low-quality peripherals often lack essential safety features, leading to overheating, electrical hazards, or damage to connected devices. Combatting this challenge demands stringent quality control measures and robust consumer awareness campaigns. Educating users to differentiate genuine products from counterfeit ones becomes crucial, emphasizing the significance of purchasing from authorized sellers and reputable sources. Counterfeit detection technologies and authentication mechanisms are imperative to safeguard consumers against the perils of subpar peripherals, ensuring their gaming experiences remain secure and enjoyable.

Environmental Impact

The gaming industry's rapid growth has inadvertently contributed to an alarming environmental issue: electronic waste. As gamers upgrade their consoles, PCs, and peripherals, the disposal of obsolete or malfunctioning devices poses a pressing challenge. Regrettably, many users resort to improper disposal methods, exacerbating the electronic waste dilemma. Addressing this challenge necessitates the implementation of sustainable practices within the gaming peripheral market. Initiatives promoting responsible disposal and recycling programs are paramount. Standardizing peripheral designs, encouraging the use of interchangeable components, and adopting eco-friendly materials can significantly reduce waste generation. Manufacturers play a pivotal role by embracing environmentally conscious manufacturing practices, utilizing recyclable or biodegradable materials, and advocating for energy-efficient production processes. Collaborative efforts between consumers, manufacturers, and regulatory bodies are imperative to usher in a greener era for gaming peripherals, mitigating the industry's impact on electronic waste and fostering a sustainable future.

Key Market Trends

Increased Adoption of Gaming Devices

The global gaming peripheral market is experiencing a substantial surge in growth, driven by the widespread adoption of gaming devices, including consoles, PCs, gaming laptops, and mobile platforms. Gaming has evolved from a niche hobby to a mainstream form of entertainment, captivating audiences across diverse demographics and regions. With the rise of esports and online multiplayer games, gaming peripherals such as high-performance mice, keyboards, controllers, and headsets have become essential tools for gamers seeking immersive and competitive experiences. This trend is further fueled by the continuous innovation in gaming technology, leading to the development of more powerful and feature-rich devices. As gaming enthusiasts demand higher precision, faster response times, and enhanced comfort, the gaming peripheral market is witnessing a relentless pursuit of innovation, ensuring that gamers have access to cutting-edge tools that elevate their gameplay.

Rapid Technological Advancements

The gaming peripheral market is characterized by rapid technological advancements aimed at enhancing gaming experiences. Manufacturers are constantly innovating to develop gaming peripherals with advanced features, ergonomic designs, and customizable options. High-performance sensors, mechanical switches, and immersive audio technologies are integrated into gaming mice, keyboards, and headsets, providing gamers with a competitive edge. Additionally, RGB lighting customization and programmable buttons allow users to personalize their peripherals, adding a touch of aesthetic appeal and functional versatility. The market also witnesses innovations in wireless technology, reducing input lag and offering seamless connectivity for wireless gaming peripherals. With the advent of haptic feedback and adaptive triggers, gaming controllers provide a more immersive experience, enhancing realism and responsiveness in gameplay. These technological advancements cater to the evolving demands of gamers, ensuring that they have access to peripherals that deliver unparalleled performance and customization options.

Growing Emphasis on Esports and Professional Gaming

The rise of esports and professional gaming leagues has significantly influenced the gaming peripheral market. Professional gamers, esports teams, and gaming enthusiasts are increasingly investing in high-quality peripherals to gain a competitive advantage. Esports athletes rely on precise and responsive gaming mice, keyboards, and controllers to enhance their gameplay and achieve optimal performance. As esports tournaments gain mainstream attention and substantial prize pools, the demand for top-tier gaming peripherals continues to soar. Gaming peripheral manufacturers collaborate with professional gamers to design specialized devices tailored to the unique requirements of competitive play. This trend not only drives the innovation in gaming peripherals but also creates a strong aspirational factor, inspiring casual gamers to invest in professional-grade equipment to enhance their skills and gaming experience.

Expansion of E-sports and Gaming Retail Channels

The expansion of esports and gaming retail channels has reshaped the gaming peripheral market. Esports tournaments, gaming conventions, and online streaming platforms have become platforms for showcasing the latest gaming peripherals. Gaming peripheral manufacturers sponsor esports teams, events, and influencers, creating brand visibility and awareness among gaming enthusiasts. Esports tournaments and gaming conventions serve as avenues for gamers to experience hands-on demonstrations of peripherals, allowing them to make informed purchasing decisions. Additionally, the growth of online gaming communities and forums provides a platform for gamers to discuss and recommend gaming peripherals, influencing the preferences of their peers. The surge in online streaming platforms dedicated to gaming content allows gamers to witness professional gamers and influencers using specific peripherals, creating a sense of trust and credibility. As gaming peripherals become essential components of the gaming lifestyle, the expansion of esports and gaming retail channels plays a pivotal role in shaping consumer preferences and driving the market forward.

Segmental Insights

Product Insights

In terms of product, the headsets segment is anticipated to witness the fastest CAGR of 10.6% over the forecast period. The immersive audio experience offered by headsets allows gamers to enjoy enhanced sound effects, dialogues, and background music. For instance, in July 2022, Cosmic Byte, a gaming gear brand from India, launched Equinox Neutrino and Equinox Kronos Wireless. The headsets are compatible with Mobile, PC, PS4, Tablets, XBOX, and PS5. The enjoyable and engaging gaming experience provided by headphones offers a variety of growth opportunities for the market.

The keyboard segment held a significant market share of around 18% in 2022. The growth is attributed to the availability of various functionalities and features such as customizable RGB lighting, anti-ghosting technology, programmable macros, and mechanical switches specifically designed per the gamer's needs. The enhanced gaming experience is projected to offer lucrative growth opportunities for the market.

Device Insights

The PC segment held the largest revenue share of over 61% in 2022 and is expected to maintain its dominance throughout the forecast period. The PCs can have high-end CPUs, dedicated graphic cards, and ample RAM. The high customization offered by PCs helps enhance gaming performance compared to other gaming platforms. The substantial presence of the online gaming community, along with dedicated forums and servers for multiplayer gaming, offers opportunities for PC platforms for cooperative play, competitive play, and social interaction. Furthermore, the multitasking and versatility of PCs provide an integrated and seamless gaming experience.

The gaming consoles are expected to grow at the fastest CAGR of over 10% from 2023 to 2030. The gaming consoles have a dedicated interface and operating system and are easy to access and user-friendly. Gaming consoles offer a unified gaming experience by providing standardized software and hardware experience. The gaming consoles usually support multiplayer controllers, making it easy for users to play multiplayer games and gather around. The plug-and-play, simplicity, affordability, and robust gaming services offered by gaming consoles are anticipated to fuel the market's growth in the coming future.

Distribution Channel Insights

In terms of distribution channel, the online segment is anticipated to grow at the fastest CAGR of over 11% from 2023 to 2030. The significant rise of e-commerce platforms and the rising popularity of online shopping are primarily fueling the growth of online distribution channels. Online retailers offer many products, including mice, keyboards, headsets, and more. They allow gamers to explore a variety of brands, features, and models, allowing them to find peripherals per their gaming needs and preferences. The additional benefits, such as easy access to information, user-friendly filters, and search and international availability of gaming peripherals, fuel the segment's growth.

The offline segment held the largest market share of approximately 59% in 2022. The offline stores can provide instant access to gaming peripherals, allowing instant purchases without waiting for delivery. The offline stores employ skilled and knowledgeable employees who can suggest compatible peripherals and address customers' concerns and queries. Furthermore, the additional benefits, such as easy returns and exchanges, community engagement, additional offers and discounts, and relationships with stores, make offline distribution channels a preferred option for purchasing gaming peripherals.

Regional Insights

In terms of region, the gaming peripheral industry in the Middle East and Africa region is expected to witness the fastest CAGR of 11.5% during the forecast period. This growth can be attributed to several factors, including the rising popularity of gaming in the region, the increasing availability of high-quality gaming peripherals, and the growth of e-sports. The key driver of the Middle East and Africa market is the growing popularity of gaming in the region. As more and more people in the region turn to gaming as a form of entertainment, the demand for high-quality gaming peripherals has increased. This has led to a rise in the number of gaming peripheral manufacturers operating in the region, as well as increased competition among these manufacturers, which is anticipated to drive market growth over the forecast period.

Asia Pacific registered the highest revenue share of over 53% in 2022. The region boasts a large and diverse gaming community, spanning from casual mobile gamers to competitive e-sports enthusiasts. The growth is fueled by the popularity of esports tournaments, gaming cafes, and the rising number of professional gamers who require high-performance peripherals for a competitive edge. In addition, the region's strong technology manufacturing sector ensures a wide variety of gaming peripherals readily available, that cater to different budgets and preferences.

Key Market Players

Anker Innovations Limited

Cooler Master Technology Inc.

Dell Inc. (Alienware)

CORSAIR

HyperX/Kingston Technology Company, Inc.

Logitech

Plantronics Inc.

Rapoo Corporation

Razer Inc.

Redragon USA

Turtle Beach

Report Scope:

In this report, the Global Gaming Peripheral Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Gaming Peripheral Market, By Type:
• Wired
• Wireless
• Gaming Peripheral Market, By Device:
• PC
• Gaming Consoles
• Gaming Peripheral Market, By Product Type:
• Headsets
• Keyboard
• Controller
• Mice
• Others
• Gaming Peripheral Market, By Distribution Channel:
• Online
• Offline
• Gaming Peripheral Market, By Region:
• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Belgium
• Asia-Pacific
• China
• India
• Japan
• Australia
• South Korea
• Indonesia
• Vietnam
• South America
• Brazil
• Argentina
• Colombia
• Chile
• Peru
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Turkey
• Israel

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Gaming Peripheral Market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Please Note: Report will be updated with the latest data and delivered to you within 3-5 working days of order. Single User license will be delivered in PDF format without printing rights