Gaming Accessories Market Size & Share 2024 – 2032
Market Size by Product Category (Input Device, Headsets, Visual Devices, Cooling Pads), by Technology (Wired, Wireless), by Platform, by Distribution Channel, by Organization Size, by End Use & Forecast.
Report ID: GMI10168
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Published Date: July 2024
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Report Format: PDF
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Authors:
Suraj Gujar, Saptadeep Das
Gaming Accessories Market Size
Gaming Accessories Market was valued at USD 9.2 billion in 2023. It is anticipated to grow at CAGR of over 5% between 2024 and 2032. The market has seen substantial expansion. This is due to several primary drivers. Central to this growth are continuous technological advancements. These advancements motivate manufacturers to innovate continually to offer products that enhance both gaming performance and immersion.
Gaming Accessories Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
For instance, in June 2024, Razer and Epic Games announced an exciting collaboration featuring Fortnite-themed PC gaming accessories. This partnership introduces specially designed versions of Razer's popular Kraken V3 X, DeathAdder V3 Pro, Goliathus, Extended Chroma, and BlackWidow V4 X.
The growing appeal of competitive gaming and esports is also a major driver. Esports continues to gain popularity. Both professional and casual players are spending more money on top-notch gaming equipment. Sales of gaming controllers and chairs made specifically for extended gaming sessions and high-end headsets that deliver spatial audio and clear communication all necessary for competitive play have increased because of this trend.
Gaming peripheral demand is growing, driven by diverse gameplay styles across various demographics and regions. This diversity enables manufacturers to offer a wider range of products, from high-end luxury accessories to more affordable options. As a result, the expanding market is fueling continuous innovation in gaming peripherals.
The market for gaming accessories is increasingly becoming fragmented as more companies are offering diverse selection of products. New players are facing high competition in the market and established players are struggling to create product differentiation in the highly competitive landscape. With many firms competing for the same clientele, it's crucial to stay ahead of curve by offering distinctive value propositions.
Geopolitical tensions and natural disasters pose significant risks to the global supply chain for gaming accessories. These interruptions can cause manufacturing delays, increase transportation costs, and lead to shortages of critical components such as semiconductors. As result manufacturers may find it difficult to meet consumer demand. This might result in stockouts and longer lead times for buyers. Moreover, these supply chain issues often lead to increased production expenses.
Gaming Accessories Market Trends
The market for gaming accessories is becoming more focused on high-performing adaptable and immersive goods. Customers seek gadgets with cutting-edge specs, such strong processors, bright screens and excellent graphics capabilities. Customizable features, such as RGB lighting and modular parts allow players to tailor their setups for better gameplay. Deeper immersion and engagement are enabled by increasing integration of AI, VR and AR technology. Ergonomic design is another major trend in accessories with items made to be comfortable for prolonged gaming sessions.
In May 2024, Infinix teased launched its GT lineup. This includes the GT 20 Pro smartphone. It also features GT Book gaming laptop and various "GT Verse" gaming accessories. The GT 20 Pro showcases advanced specs like the MediaTek Dimensity 8200 SoC. It also includes a 108MP camera. The GT Book boasts a 13th Gen Intel Core i9 CPU and Nvidia GeForce RTX 4060 GPU.
Gaming Accessories Market Analysis
Based on technology, the market is divided into wired and wireless. The wireless segment is expected to reach a value over USD 10 billion by 2032.
Based on platform, the gaming accessories market is divided into mobile, PC, and gaming console. The mobile segment is the fastest growing segment with a CAGR of over 10% between 2024 and 2032.
North America dominated the global gaming accessories market in 2023, accounting for a share of over 35%. The region has a substantial well-off consumer population with significant discretionary income promoting acquisition of high-end gaming equipment. It is also home to several established tech companies and game studios. This fosters innovation and early uptake of cutting-edge gaming technologies. The need for premium gaming gear is further increased by North America's thriving esports scene.
Leading IT firms and game developers are present in the United States which facilitates innovation and early adoption of cutting-edge gaming technologies. The nation's robust esports ecosystem and competitive gaming's broad appeal fuel significant demand for premium gaming peripherals.
The popularity of PC and mobile games has propelled the gaming industry's explosive rise in China driving up demand for gaming accessories. There is huge gaming community in nation. As people's disposable budgets rise so does their need for premium gaming accessories. Easy access to large variety of gaming accessories is made possible by China's robust e-commerce platforms and vast online retail networks.
South Korea is well known for having strong esports scene and high internet penetration rate. These two factors support the expanding market for gaming equipment. The nation's gamers are renowned for favoring state-of-the-art equipment and cutting-edge technology. This encourages manufacturer innovation and competitiveness. Additionally South Korea's government encourages the gaming sector. This contributes to the development of a welcoming atmosphere for gaming accessories.
Japan boasts a long history of dominating console also arcade gaming markets. Its gaming industry is deeply ingrained in the country's culture. The need for a variety of gaming accessories has been fueled by the growth of mobile gaming and the ongoing appeal of consoles. Quality and innovation are highly valued by Japanese customers. This has resulted in a robust market expansion for high-end cutting-edge gaming peripherals.
Gaming Accessories Market Share
Razer, Inc. and Logitech International SA hold a significant share of over 15% in the gaming accessories industry. Razer is renowned for its high-performance gaming peripherals including mice keyboards headsets and gaming laptops. These cater to both casual and professional gamers. The company's dedication to cutting-edge technology and stylish designs has made it a favorite among gamers worldwide. Logitech International SA particularly through its Logitech G brand. has established itself as a leader in the market by offering a broad range of reliable and advanced gaming peripherals.
Gaming Accessories Market Companies
Major players operating in the gaming accessories industry are:
Gaming Accessories Industry News
The gaming accessories market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD billion) from 2021 to 2032, for the following segments:
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Market, By Product Category
Market, By Technology
Market, By Platform
Market, By Distribution Channel
The above information is provided for the following regions and countries:
Research methodology, data sources & validation process
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