Gaming Accessories Market

The gaming accessory is a distinct piece of hardware that is required to use a video game console, and one that enriches the video game',s play experience. Additionally, controllers, headsets, joysticks, and web cameras are all examples of video game accessories. The controllers used to play the games are the most common video game system accessory. One of the fastest-growing entertainment industries around the world is gaming.

Gaming Accessories Market Drivers:

• Increasing various gamers who play online gaming

The rise in popularity of online gaming is a notable trend that is driving demand in the Gaming Accessories Market. The regular release of new games helps to build an ever-expanding worldwide gaming community. According to the most recent data from 2023, the game Player Unknown',s Battlegrounds (PUBG) has been downloaded by approximately 1 billion people. This increased demand for gaming accessories is directly related to the growing gaming population, resulting in a higher Gaming Accessories Market value. Furthermore, a significant section of the global population has participated in video gaming activities, ranging from empire-building to Poké,mon gathering expeditions.

Opportunities:

• Growing demand of 2.4GHz Connectivity

The gaming accessory markets for speakers and keyboards are also suffering a short-term dip, with mice performing the best. As 2.4GHz connections achieve acceptable latency levels for casual gamers, the research firm anticipates wireless functionality to play a significant role in the overall industry',s growth. This allows for more accurate tracking, faster polling, and better tracking precision. The market is being stimulated simultaneously by developments in battery technologies and pricing, with products such as the HyperX Cloud Alpha pushing the boundaries of wireless capabilities and battery capacity.

Restraints:

• High cost of gamming accessories

Gaming accessories frequently include cutting-edge technology, smart sensors, and novel features to create a better gaming experience. This features high-resolution displays, adjustable RGB lighting, ergonomic designs, and advanced networking choices. The addition of such premium features raises production costs, resulting in higher retail pricing. The affordability of gaming accessories is determined by the economic conditions of consumers. In regions with lower average incomes, the expensive cost of premium gaming accessories may discourage widespread adoption. Economic variables influence purchasing decisions, and consumers may choose more cost-effective options or postpone purchases because of financial restraints.

Segment Overview

• By Component

Based on component, the global gaming accessories market is divided into mice, controller, others, headsets, keyboard. The headsets segment dominated the market in 2023 and is expected to dominating during the gaming accessories market in forecast period, due increasing demand for improved, crisp and clear background sounds in gaming, among people, especially young adults. Moreover, superior audio quality plays a critical part in improving the gaming experience and is a crucial feature set to favorably influence the trajectory. This is a significant factor that is predicted to have a favorable impact on market growth.

• By Device Type

Based on device type, the global gaming accessories market is fragmented into PC, gaming console. The PC segment dominated the global gaming accessories market in 2023. This is attributed to increasing demand for gaming computers among the younger population. Gaming PCs are often custom-built with features such as a high-end processor, graphics processing unit (GPU), overclocked processor, and liquid cooling, among others, to pique gamers', interest and passion. Additionally, PC gamers can customize their settings by upgrading components, adding RGB lighting, or using peripherals that match their preferred gameplay style.

• By Connectivity Type

Based on connectivity type, the global gaming accessories market is segmented into wired, wireless. The wired treatment segment dominated the gaming accessories market with the largest revenue share in 2023. This due to wired devices are more reliable than wireless devices, making them one of the major elements in the gaming peripheral market, driving up demand for wired devices.

• By End Use

Based on end use, the global gaming accessories market is classified into online, offline. The online segment dominated the gaming accessories market with the largest revenue share in 2023. This owing to online shops like Amazon and Flipkart is becoming increasingly popular, as is the use of smartphones and other comparable gadgets. In addition, increasing online offer on the gaming accessories due to widely used the online platform.

Gaming Accessories Overview by Region

Asia Pacific dominated the gaming accessories market in 2023. This attributed to increasing number of professional gamers in the region. In addition, advancements in wireless technologies and the increase in demand for online games. The rising demand for gaming accessories due to the popularity of mobile gaming. China, Japan, South Korea, and India are the countries that are witnessing a flow in gaming enthusiasts and esports participation. However, North America region stands as a key player in the gaming accessories market, and it is driven by a large and enthusiastic gaming community. The United States and Canada, have an important impact on the market',s growth. Consumer spending on gaming peripherals is high in this region, including headsets, keyboards, mice, and controllers.

Gaming Accessories Competitive Landscape

In the global gaming accessories market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.

Gaming Accessories Market Leading Companies:

• Razer Inc.

• Corsair Gaming, Inc.

• Logitech International S.A.

• SteelSeries

• Turtle Beach Corporation

• Mad Catz Global Limited

• Thrustmaster

• Plantronics, Inc. (Poly)

• Cooler Master Technology Inc.

• Alienware (a subsidiary of Dell Technologies)

Gaming Accessories Recent Developments

• In June 2023, Razer Inc announced the newest version of Razer Blade 14, a portable 14-inch gaming laptop in the signature matt black and dazzling mercury white color. It features the all-new AMD Ryzen 9 7940HS processor with DDR5-5600MHz SO-DIMM memory. With the latest NVIDIA GeForce RTX 40 Series laptop graphics and to experience this power, users are presented with an immersive 16:10 aspect ratio QHD+ 240 Hz display that provides stunning color depth and contrast.

• In February 2023, CORSAIR has unveiled iCUE Murals Lighting, an innovative software designed for crafting captivating lighting effects within the CORSAIR iCUE ecosystem. This advanced feature empowers users to transform images, videos, and on-screen visuals into vibrant templates, resulting in visually stunning and immersive lighting displays. Murals bring to life the desktop and entire gaming space with mesmerizing and uniquely crafted RGB lighting.

• In February 2023: Corsair Gaming Inc. has introduced a new addition to its highly praised HS gaming headset series, known as the HS65 WIRELESS. This stylish and lightweight headset provides dual connectivity options, allowing users to seamlessly connect to games through low-latency 2.4GHz wireless or Bluetooth, ensuring compatibility with a wide range of systems and devices. The HS65 WIRELESS is available in both black and white, and it offers enhanced audio customization through Sonarworks SoundID technology.