Gaming Hardware Market

Report Scope & Overview:

Gaming Hardware Market size was valued at USD 36739.6 million in 2022 and is expected to grow to USD 53549.47 million by 2030 and grow at a CAGR of 4.8% over the forecast period of 2023-2030.

Gaming is one of the world's fastest growing industries, and it's just going to get bigger. Every now and then, a game jumps out from the pack and attracts millions of players worldwide. Gaming hardware has seen considerable increase in demand since the beginning of this decade. Gaming equipment provides a realistic depiction of the interaction between players and environments during gameplay is what draws consumers and gamers to the gaming industry. The concept of gaming gear is continually growing and improving the gaming experience with advancements such as 3D gaming and augmented reality glasses. Over the projected period, gaming hardware demand is expected to expand faster than PC hardware demand, resulting in rapid growth for the global gaming hardware market.

Global gaming equipment these factors are projected to drive significant growth in global gaming hardware sales over the next few years. Furthermore, the home sector has a significant impact on the gaming hardware business. Residential end-users will demand more gaming hardware during the predicted period. The demand for handheld consoles is likely to rise in the future years among residential end users.

KEY DRIVERS: 

• The introduction of high-definition televisions and the proliferation of high-end laptops and PCs

• The rise in demand for gaming gear is high-quality graphics.

• Growing demand for gaming hardware

Games with ultrafast frame rates and the adoption of the Internet of Things (loT) in gaming would pique gamers' interest in purchasing high-end consoles and peripherals. Furthermore, the requirement for real-life representation in the gaming experience, as well as advanced consoles with sophisticated features such as the PlayStation 4 Pro, Xbox One X, and others, would generate new prospects for the global gaming sector.

Because of significant public awareness and heavy sponsorship as established teams acquire e-sports players, the expanding internet penetration and rise in E-sports across key areas, a big number of advanced multiplayer games are prompting gamers to opt for high-end consoles and peripherals.

RESTRAIN:

• Lack of internet speed

• High quality graphics systems

• Risk in new Technology

OPPORTUNITY:

• High-speed internet and mobile connectivity

• Innovations in technologies

The concept of gaming gear is continually growing and improving the gaming experience with advancements such as 3D gaming and augmented reality glasses. Over the projected period, gaming hardware demand is expected to expand faster than PC hardware demand, resulting in rapid growth for the global gaming hardware market. These factors are projected to drive significant growth in global gaming hardware sales over the next few years. Furthermore, the home sector has a significant impact on the gaming hardware business. Residential end-users will demand more gaming hardware during the predicted period. The demand for handheld consoles is likely to rise in the future years.

CHALLENGES:

• High cost of gaming hardware is likely to stymie adoption

Despite the fact that gaming has opened up a variety of doors for numerous sectors and individuals, Equipment and hardware continue to be prohibitively expensive for many end users. Due to semiconductor chip shortages used to power gaming laptops and consoles, this situation has been aggravated in various regions. There are still countries that have not recovered from the pandemic slowdown. In November 2021, Nintendo Co. Ltd. stated that a global chip scarcity has forced the company to reduce sales projections for its Switch gadget, which could have an influence on gaming hardware development. Fortunately, the company is in the process of replacing hardware components, which will lessen the impact.

IMPACT ANALYSIS

IMPACT OF RUSSIAN UKRAINE WAR

This war had a significant impact on mobile app and game advertisers and developers, as fluctuations in demand impacted their bottom lines, particularly in Ukraine and Russia. According to Valerie Alfimova, chief revenue officer at Appodeal Stack and a business growth expert, the effective Cost Per Mille (eCPMs) have taken a significant impact. Appodeal publishes a quarterly mobile eCPM report in which it examines the eCPM of millions of users billion ad impressions from more than 70 ad networks worldwide. The entire industry was affected on so many levels as eCPMs dropped," Alfimova explained. "By the end of March, eCPMs on Android had dropped 75%, while iOS had dropped 71%." That is exactly what occurred immediately following the invasion. Given the magnitude of the geopolitical upheaval and the number of countries involved, it was not surprising a part of it.

IMPACT OF ONGOING RECESSION

The gaming industry has evolved significantly since its inception ten years ago. The accessibility and interactivity of gaming software and hardware are increasing as technology advances. The decade of the debut of numerous pivotal gaming events that sent the video game industry into orbit. Gaming subscriptions, mobile gaming, esports, and cloud gaming are four important developments that will shape the future. Let's start with video game subscriptions. It's difficult to envision gaming without subscription services in 2022, but they weren't nearly as common before ten years. Playstation Now, Xbox Game Pass, and EA Access are just a few of the monthly/yearly subscription programs that provide content to gamers. Google Stadia is another option. Another important sector for the industry is mobile gaming. The mobile gaming progressed far beyond playing Snake on your Nokia brick phone. Tencent Games' combat royale PUBG Mobile received 100 million downloads in the first four months of its existence. Pokemon Go was a worldwide phenomenon abandoning their homes and traveling the world in search of AR Pokemon and has raised over $400 billion in total revenue.

MARKET SEGMENTATION

KEY MARKET SEGMENTS

By Type

• Gaming Consoles

• Standard Gaming Consoles

• Handheld Gaming Consoles

• Gaming Accessories

• Gaming Controller

• Gaming Headsets

• Gaming Cameras

By End User

• Commercial Gaming Hardware

• Residential Gaming Hardware

REGIONAL ANALYSIS

In North America, the US accounted for sales of more than 2.4 million units of gaming hardware, as total consumer spending on video gaming in the region reached around $12 billion in 2022, making the region the largest user of various gaming consoles.

According to Future Market Insights, because North America has great purchasing power and lower entry hurdles. It controls the gaming hardware market with its gaming systems. North America will have a market share of 26.5% in 2022. During the forecast period, a substantial number of important companies are also predicted to boost the expansion of the region's gaming hardware market. Customers in North America are also likely to boost their use of high-speed internet and mobile devices. During the projected period, smart devices will generate opportunities for the gaming hardware industry.

REGIONAL COVERAGE:

North America

• US

• Canada

• Mexico

Europe

• Eastern Europe

  • Poland

  • Romania

  • Hungary

  • Turkey

  • Rest of Eastern Europe

• Western Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Netherlands

  • Switzerland

  • Austria

  • Rest of Western Europe

Asia Pacific

• China

• India

• Japan

• South Korea

• Vietnam

• Singapore

• Australia

• Rest of Asia Pacific

Middle East & Africa

• Middle East

  • UAE

  • Egypt

  • Saudi Arabia

  • Qatar

  • Rest of Middle East

• Africa

  • Nigeria

  • South Africa

  • Rest of Africa

Latin America

• Brazil

• Argentina

• Colombia

• Rest of Latin America

KEY PLAYERS

Some of key players of Gaming Hardware Market are Microsoft Corporation, Nintendo Co Ltd, NVIDIA Corporation, Sony Corporation, Logitech International S.A, Venom UK Ltd, Oculus VR, Playstation, Linden Research, Sega games and other players are listed in a final report.

RECENT DEVELOPMENT

• March 2023: Microsoft collaborated with cloud gaming service provider Boosteroid to increase the number of games available to consumers worldwide.

• February 20, 2023: Microsoft and NVIDIA announced a 10-year deal to provide Xbox PC titles to the over 25 million NVIDIA users. The GeForce NOWTM cloud gaming service is accessible in over 100 countries. The collaboration will bring popular Xbox titles from Activision, such as Call of Duty and Minecraft, to the NVIDIA GeForce NOW cloud gaming service.  

• Microsoft Corporation said at CES 2021 that its device partner Acer Ine. unveiled the Predator Tritron 300 SE Gaming Notebook, which combines 11th Gen Intel Core i7 H35-series processors, an NVIDIA GeForce RTX 3060 Laptop GPU, and compatibility for the latest DirectX 12 Ultimate gaming capabilities.

• Nintendo Co. Ltd. announced intentions to release the Nintendo Switch 2, replete with 4K graphics, in March 2022. Once released, the device might pose a significant threat to newer Xbox and PlayStation consoles and games. In addition, the product will have a superior display, with a 7-inch OLED screen supporting 1080p displays.

  Gaming Hardware Market Report Scope:

  Report Attributes	Details
  Market Size in 2022	US$ 36739.6 Mn
  Market Size by 2030	US$ 53549.47 Mn
  CAGR	CAGR of 4.8% From 2023 to 2030
  Base Year	2022
  Forecast Period	2023-2030
  Historical Data	2019-2021
  Report Scope & Coverage	Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
  Key Segments	By Type (Gaming Consoles, Gaming Accessories), By End User (Commercial Gaming Hardware, Residential Gaming Hardware)
  Regional Analysis/Coverage	North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)
  Company Profiles	Microsoft Corporation, Nintendo Co Ltd, NVIDIA Corporation, Sony Corporation, Logitech International S.A, Venom UK Ltd, Oculus VR, Playstation, Linden Research, Sega games
  Key Drivers	•The introduction of high-definition televisions and the proliferation of high-end laptops and PCs •The rise in demand for gaming gear is high-quality graphics. •Growing demand for gaming hardware
  Market Restraints	• Lack of internet speed • High quality graphics systems • Risk in new Technology