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Gaming Accessories Market Drivers
Launch of New Gaming Content to Boost Market Growth
The launch of new gaming content having high graphic needs will boost market growth over the forecast period.
Market Analysis
The global Gaming Accessories Market will exhibit a CAGR of 12.30% in the forecast period of 2022-2030 and is expected to reach 15.2 Billion by 2030
Opportunities
Increasing Trend towards E-Sports to offer Robust Opportunities
The increasing trend towards E-sports and growing viewership will offer robust opportunities for the market over the forecast period.
Restraints and Challenges
High Cost of Gaming Peripherals to act as Market Restraints
The high costs of gaming peripherals such as anti-ghosting switches and DPI mouse may act as a market restraint over the forecast period.
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Key Players
Eminent market players profiled in the global gaming accessories market report include Alienware (US), Razer Inc. (US), Logitech International SA (Switzerland), Mad Catz (US), Turtle Beach (US), Corsair (US), Cooler Master (China), Sennheiser (Germany), HyperX (US), Anker (China), Reddragon (US), SADES Technological Corporation (China), Plantronics (US), Google Inc. (US), and Nintendo Co., Ltd (Japan). Apart from these, the list also includes others players such as Oculus VR, LLC (US), Xiaomi Corporation (China), HP Inc. (US), Dell Inc. (US), AsusTek Computer Inc. (Taiwan), Sony Corporation (Japan), Acer Inc. (Taiwan), SteelSeries (Denmark), and Nvidia Corporation (US).
COVID-19 Analysis
The COVID-19 outbreak has slowed the growth of various sectors, such as oil and gas, automobiles, and others. This had three key effects on the worldwide economy- impacting the production and demand directly, financial impact on financial markets and businesses, and market & supply chain disruption. The crisis has posed a noteworthy strategic threat to manufacturing and electronic companies of late. The semiconductor and electronics manufacturing industries have been impacted via disruptions in raw material supply, inadequate finance, weak consumer demand, and temporary shutdown of manufacturing units. People had been forced in staying indoors during the initial months of the transmission of the virus particularly when various countries all across the globe enforced lockdowns to curb the spread of the virus, thus this has increased the need for gaming accessories. Gaming has turned into a popular pastime during lockdown.
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Market Segmentation
The global gaming accessories market is bifurcated based on end use, device type, and product type.
By product type, the headsets segment will lead the market over the forecast period.
By device type, the gaming consoles will dominate the market over the forecast period.
By end users, the casual gaming segment will spearhead the market over the forecast period.
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Regional Analysis
North America to Precede Gaming Accessories Market
North America will precede the gaming accessories market over the forecast period. The gaming community being the fastest-growing entertainment industries in the US, the region organizing various online gaming tournaments that need state of the art devices to operate effectively, gamers purchasing the latest gaming peripherals, the higher awareness regarding gaming accessories among adults and children, the presence of several leading companies, immense popularity of gaming in the US, preference for mobile gaming by American women, and casual gamers shifting their focus towards mobile gaming are adding to the global gaming accessories market growth in the region.