The gaming industry is growing at a significant rate in all regions. The components that provide the user with a seamless gaming experience are the gaming peripherals. Components such as keyboard, mouse, joystick, speakers, and head mounted displays are part of gaming peripheral.
Gaming peripherals are either wired or wireless devices. Some of the components are provided along with the game, whereas others need to be purchased as per user preference and gaming environment.
Sectors such as gaming are at the forefront of adoption of technological advancements compared to other industry verticals. Current technology advancement in location based VR is enhancing end-user expectation to experience virtual surroundings in different applications irrespective of location or time. In recent years, hardware developers are focusing more on manufacturing user friendly peripheral devices in order to improve user experience. This drives the gaming peripheral market.
Constant innovation in controllers and peripherals is expected to drive the growth of the gaming peripheral market during the forecast period.
The gaming peripheral market is expected to see large scale innovation in short to medium term since the market is in an emerging stage and is backed by high investment
Increasing implementation of IoT expected to drive the gaming peripheral market
IoT is one of the trending technologies in the gaming sector. Developments in connectivity technologies such as 4G, 5G, NFC, RFID, Bluetooth, and Wi-Fi is expected to have a positive impact on the gaming peripheral market.
The gaming industry is also influenced by virtual reality and augment reality. These technologies need devices that have IoT for a seamless user experience.
Increasing trend of wireless gaming peripherals is also expected to escalate the gaming peripheral market toward growth trajectories.
Location based virtual reality is expected to have a significant impact on IoT and hence on the gaming peripheral market.
Asia Pacific Region Expected to Hold Major Share of Global Gaming Peripheral Market
Based on region, the gaming peripheral market can be divided into five regions, North America, Europe, Asia Pacific, MEA and South America.
Asia Pacific is expected to dominate the gaming peripherals market due to the highest number of gamers in this region.
Moreover, a major youth population (almost 60%) resides in this region which drives the gaming market and in turn affects the gaming peripheral market.
China, India, Japan, South Korea, and Singapore contribute a large share of gamers in this region which has a positive impact on the gaming peripheral market.
