1. Market Research
  2. > Electronics
  3. > Consumer Electronics Market Trends
Gaming Accessories Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Gaming Accessories Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • April 2021
  • 134 pages
  • ID: 6067806
  • Format: PDF
  • Mordor Intelligence LLP

Summary

Table of Contents

Search Inside

The gaming accessories market is expected to reach a CAGR of 9.5% during the forecast period of 2021 - 2026. Increasing adoption of smartphones, rapidly evolving technologies such as virtual reality (VR) and artificial intelligence (AI) are fueling the growth of the market across the globe.

- Major gaming console manufacturers like Nintendo and Microsoft have realized the potentiality of AR and are leading the charge. AR can free gamers from ‘their world’ and usher them into the real world to play. For instance, Human Pac-Man is a game that allows the users to wear goggles and chase each other in real life, just resembling the characters in Pac-Man. Such developments are aiding the development of gaming accessories to provide enhanced gaming experience to gamers.
- The rapid growth of e-sports has up-surged the demand for advanced gaming keyboards and gamepads, and the gaming accessories market is expected to grow over the forecast period with the continuous enhancement in gaming content. China is the largest, highest grossing, and the most profitable video game market in the world, since 2015. In esports, China has been the world leader in terms of tournament winnings, possessing some of the best talents in the world across multiple video games, as well as one of the largest pool of video gamers.
- Further, the low supply chain distribution due to coronavirus pandemic could challenge the market growth currently. Nearly 90% of video game consoles imported into the United States in 2019 were manufactured in China. Many gaming companies, especially those that rely on Chinese manufacturers to produce their products, continue to have supply chain disruptions. These include Nintendo Co. Ltd., which is currently struggling to meet the demand for its Switch consoles in the United States. Most of the Switch’s components come from some of the factories in Wuhan, China. Also, Facebook Inc. is facing severe shortages of its Oculus virtual reality headsets in the United States.

Key Market Trends
Console Segment to Witness Significant Growth

- Home consoles primarily dominate the market with various players, such as Sony, Microsoft, and Nintendo dominating the market. Sony has been leading the market with about 70,599 3D gaming consoles sold in North America alone. The increasing demand for gaming console will drive the growth of the gaming accessories market in the forecast period.
- Launch of new gaming content with high graphic requirements? is driving the market. Console gaming is in the transition to on-demand visual content, and this transition has already begun. Microsoft announced the launch of Xbox Series X (the successor of its range-topping Xbox One X gaming console). It will pack vastly more powerful hardware, adding a 4K gaming experience at up to a mind-boggling 120 frames per second, support for gameplay with variable refresh rate, compatibility with 8K displays.
- Coming to innovation, in Sep 2019, NEOGEO Arcade Stick Pro Merged both Gaming Console and Controller in one part where the controller also comes with “start/select” buttons, a turbo switch and ports for HDMI and USB. This innovation will help the user to penetrate more on the console segment due to its unique features.
- Further, social channels are making gaming content easier to access than ever before. Among the weekly users surveyed, 78% of US console gaming buyers use Facebook for gaming-related activities, and 69% use Instagram for gaming-related activities. Increasing accessibility will fuel market growth.
- Diminishing the lines between fantasy and reality, VR is helping create gaming worlds that are more realistic and immersive for today, technology-obsessed gamers. Oculus in the United States sees its future in cordless, self-contained headsets that operate like gaming consoles. This standalone Quest virtual reality headset has 80 percent media and 20 percent gaming, where the Oculus Quest is emphatically gaming-focused.

Asia-Pacific to Witness the Highest Growth

- Asia-Pacific holds the largest market share, where Southeast Asia holds the most significant revenue share. Countries, like China, Japan, Australia, and South Korea, are the prime gaming hot spots of the world, which are estimated to generate more than 40% of the gaming industry’s revenues annually.
- Also, by 2021, the number of mobile online gamers in Southeast Asia will rise to 250 million. Indonesia, Malaysia, Thailand, Vietnam, Singapore, and the Philippines are the six most significant countries for mobile gaming in Southeast Asia.
- A trend that has also been fuelling the games market in the region is the rise of eSports. Growing viewership and an increasing trend towards e-sports have opened up new opportunities for gaming accessories in countries other than China, such as Indonesia, Vietnam, Malaysia, etc. Due to the adoption of esports, demand for video games through the console is also increasing and will accumulate more growth in the future.
- Also, various new platforms are being generated to enhance Aisa-Pacific growth by increasing the extent of local content. Further, with the increasing number of 5G connections in the country, the market is expected to witness further growth. For instance, in June 2019, Qualcomm Technologies announced a joint demonstration with ZTE of the 5G-powered cloud gaming on a live 5G network. Such developments will fuel the growth of gaming accessories in the region as a result of new game launches and increased gamers.

Competitive Landscape
The gaming accessories market is highly competitive due to the presence of very few global vendors who hold a high market share. The manufacturers in the worldwide gaming accessories market are primarily focused on improving their portfolio of gaming accessories to stay competitive in the market. Key players are Sony Corporation, Microsoft Corporation, etc. Recent developments in the market are -
- In Sep 2019, Razer planned to invest USD 7.2 million to drive growth in Singapore’s gaming scene. With the investment, Razer looks to support esports teams and gaming companies based in the city-state or founded by Singaporeans. This funding will also go in part to Team Singapore, which they are advocating for the SEA Games.
- In February 2020, Logitech G, a brand of Logitech and Herman Miller, announced an exclusive partnership to research, design, and manufacture the next generation high-performance furniture solutions for gamers. Both companies bring years of design and engineering expertise in their respective fields, and combined will address the needs of esports athletes, players, and streamers.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.

ref:plp2021

Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on