The gaming gadgets market is expected to come out approximately

NEWARK, Del:, Sept. 21. 2022 (GLOBE NEWSWIRE) — According to a latest report from FMI, the global gaming gadgets market is valued at $71,305.3 million by 2022, according to FMI, and is expected to reach $US$. 156,774.9 million by 2032. Between 2022 and 2032, the market is expected to grow at a compound annual growth rate of 8.2% (CAGR). During the assessment period, Wii devices are expected to grow at a faster-than-average CAGR of 10.8%.

Active gamers around the world have a plethora of gaming products to choose from. They also show a willingness to spend money on high-end items. Due to frequent technological innovations such as augmented reality (AR) and virtual reality, the market for gaming gadgets (VR) is growing. Future Market Insights (FMI) predicts that the market could grow by 3.8% year over year.

A wave of game-related content creators, such as live streamers, let’s players, and competitive esports players, has made gaming a major media format. The growing number of game content creators is causing a boom in the gaming gadget market as these creators buy multiple types of game devices to play platform-exclusive games and provide different types of content around these devices.

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In recent years, many competitive esports organizations have sprung up, organizing esports competitions and participating in games such as League of Legends, Dota 2, TFT and Heathstone. These competitions require a large number of gaming devices, the sales of which are boosting the market.

Newer market innovations are critical to moving the market forward. The release of the Steam Deck, a portable game console that offers PC-like performance and can also be used as a PC, paves the way for further advancement in the gaming device market.

Key learning points

  • The US market is expected to grow at a CAGR of 6.3% over the forecast period.
  • The Japanese market is expected to grow at a CAGR of 9.6% over the forecast period.
  • The Indian market is expected to grow at a CAGR of 14.1% over the forecast period.
  • With 46.3% of the gaming gadget market, PlayStation is the market leader in the gadget type segment.
  • Home consoles accounted for about a third of global gaming gadget sales and are expected to grow the fastest, at 7.1% CAGR.
  • Multi-brand store-based retailing continues to dominate the sales channel segment, accounting for a significant 28.2% market share for gaming gadgets.
  • The convenience of online platforms is expected to drive the market growth for gaming gadgets in the sales channel segment at a CAGR of 17.2%.
  • Gamers under 20 have a significant market share for gaming gadgets, 53.9% of all devices.
  • The use of gaming devices in the home is expected to account for a significant 70.0% market share for gaming gadgets.
  • The beginner gadgets account for 53% of the gaming gadget market.
  • Over the forecast period, the professional category is expected to grow faster, growing at a CAGR of 12.9%.

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Recent development:

Launch:

  • Samsung launched the Odessey Neo G9 gaming monitor with quantum mini LED technology for HDR applications in July 2021.
  • MSI launched its GP Leopard, Pulse GL and Katana GF gaming laptops with 11th Gen Intel Core H series CPUs for Indian consumers.

Product launch:

  • Microsoft Corporation announced in January 2021 the release of Pulse Red wireless controllers, which can be used to switch between Xbox consoles, PCs and Android devices without having to repeat the installation process each time.
  • In February 2021, Sony announced a next-generation VR headset for its PlayStation 5 console, which will be available sometime after 2021. The new VR system is expected to have higher resolution, more accurate head tracking and a wider field of view. It also includes the latest VR motion controller, as well as some of the new features from the PS5’s DualSense pad.
  • Amazon will launch Luna, a cloud gaming platform, in October 2020. In line with this, Amazon also announced its own Alexa-enabled Luna Controller, which can cost $49.99 during the early access period. It has a multi-antenna design that prioritizes uninterrupted Wi-Fi for lower latency gaming. When playing Luna Controller with Cloud Direct vs.

Partnership:

  • Logitech G, a brand of Logitech and Herman Miller, announced an exclusive partnership in February 2020 to research, design and manufacture the next generation of high-performance furniture solutions for gamers. Both companies bring years of design and engineering expertise to their respective fields and, when combined, can cater to the needs of esports athletes, players and streamers.

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Key segments

By gadget type:

By product type:

  • Manual consoles
  • Home consoles

By age group:

  • Under 20 years old
  • 21-35 years
  • 36-50 years
  • 51 years and older

By end use:

  • Dwellings/households
  • Commercial break

By end user:

  • Beginners
  • Intermediaries
  • Professional

By sales channel:

  • Direct sale
  • Specialty shops
  • Multi-brand stores
  • Independent small shops
  • Online sellers

Competitive landscape:

Because there are so few global suppliers with significant market share, the gaming accessories market is extremely competitive. In order to remain competitive in the global gaming accessories market, manufacturers are mainly focusing on improving their gaming accessories portfolio.

Nintendo Co., Ltd, Sony Corporation, Microsoft Corporation, Atari, Inc., Hyperkin, Inc., Razer Inc., NVIDIA Corporation are among the major players.

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Index

1. Summary

1.1. Global Market Outlook

1.2. Summary of key statistics

1.3. Summary of key findings

1.4. Product Evolution Analysis

1.5. FMI analysis and recommendations

2. Market overview

2.1. Market taxonomy

2.2. Market definition

3. Key Market Trends

3.1. Key trends impacting the market

3.1.1. Growing trend of professional gamer worldwide

3.1.2. Motion Gaming – revolutionizing the way people play games

3.1.3. Global interest in eSports is booming

3.1.4. eSports practically prints money

Read more TOC.

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About Future Market Insights, Inc.:

Future Market Insights, Inc. is an ESOMAR certified business consulting and market research firm, a member of the Greater New York Chamber of Commerce and headquartered in Delaware, USA. As a recipient of the Clutch Leaders Award 2022 for its high customer score (4.9/5), we have collaborated with global enterprises during their business transformation and helped them realize their business aspirations. 80% of the largest Forbes 1000 companies are our customers. We serve global clients in all leading and niche market segments in all major industries.

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