Gaming Peripherals Market Is The Next Big Thing | Fortune
Posted by Nicky Arora on January 18th, 2021
The global gaming peripheral market size is expected to reach USD 6.96 billion by 2025, registering a CAGR of 10.4% from 2020 to 2025, according to a new report by Grand View Research, Inc. The increasing number of online gamers and hardware improvements such as faster processors, graphics and sound cards has enabled a wider scope for the industry. In addition, the industry is also witnessing a high influx of revenue based on a high consumer spending for ultra-modern games. In the past two decades video games have progressed through many stages as gaming consoles have become more sophisticated in the recent years.
The scope of gaming hardware market has gone to a vast extent encompassing a lot of diversity of applications. To supplement the growth factors, investment is one of the value chain components that features the game or a large corporation dealing with large-budgets. On contrary, independent developers may also opt to fund their own platforms. Ongoing innovations are further expected to drive the market growth. For instance, in October 2019, Logitech G, a brand of Logitech introduced PRO X mechanical gaming keyboard that comes with swappable switches as a part of personalization. The new keyboard is a better choice for Esports professionals that exhibits a high reliability and features in enhanced designing.
Asia Pacific is expected to witness a rapid growth attributing to wide popularity of video games and high preference for entertainment and online gaming. India being a huge market for online gaming is gaining traction as digitalization is at its peak. Government initiatives such as ‘Skill India’ and ‘Make in India’ have been encouraging the development of gaming peripherals and entertainment industry. In addition, Indian consumers possess a huge liking for online games and are inclined toward spending on these peripherals.
Gaming Peripherals Market Report Highlights
Gaming Peripherals Market Segmentation
Grand View Research has segmented the global gaming peripherals market based on product, device, type, distribution channel, and region:
Gaming Peripherals Product Outlook (Revenue, USD Million, 2014 - 2025)
Gaming Peripherals Device Outlook (Revenue, USD Million, 2014 - 2025)
Gaming Peripherals Type Outlook (Revenue, USD Million, 2014 - 2025)
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About the AuthorNicky Arora
Joined: October 15th, 2019
Articles Posted: 389
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