According to a new report on the gaming hardware market published by Transparency Market Research, the global gaming hardware market
is expected to reach a volume of 260.5 Million Units by 2026, expanding
at a CAGR of 6.6% from 2018 to 2026. According to the report, the
global market is projected to continue to be influenced by a number of
macroeconomic and industry-specific factors. In terms of product type,
the consoles segment is anticipated to expand in the coming years.
Persistent technological developments in the gaming industry
Demand for gaming hardware has increased
significantly in recent years. Residential users are prominent end-users
of gaming hardware. Demand for gaming hardware in the commercial sector
is expected to rise during the forecast period. There has been a
substantial increase in the deployment of standard consoles in
commercial sectors. This technology has enhanced the experience of
playing games. The trend is expected to continue during the forecast
period. New game consoles introduce high definition audio and video
images along with advanced graphic technology. Major players
specializing in console and virtual reality headsets and other
accessories are coming up with their latest products by 2018 and 2019.
In terms of region, Europe held a
prominent share of the gaming hardware market in 2017. North
Americaconstitutes a key market share, and the market in the region is
anticipated to expand at a robust pace during the forecast period. The
market in Middle East & Africa and South America is expected to
expand at a steady growth rate as compared to the market in other
regions of the world.
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The global gaming hardware market has
been segmented based on product type, end-use, and geography. Demand for
headsets and controller accessories is expected to rise significantly
during the forecast period. Japan is estimated to have the highest
density of gaming hardware. Major manufacturers of gaming hardware have a
presence in Japan. With the advent of virtual & augmented reality,
the demand for headsets accessories has increased significantly.
Demand for advanced technology is a key
factor driving demand for gaming consoles. Asia Pacific and North
America are expected to propel demand for gaming consoles &
accessories over the forecast period. Demand for standard consoles is
projected to continue to be significant in the commercial sector. The
demand for handheld consoles is expected to be high in the regions of
Europe and Asia Pacific in the coming years.
The global gaming hardware market is
primarily driven by the North America region, in terms of volume. Europe
constitutes a prominent market share, followed by APAC, Middle East
& Africa, and South America. The U.S. contributes significantly to
the market in North America. Rapid innovations in gaming devices design
and connectivity and rise in the number of manufacturers of gaming
hardware are expected to drive the gaming hardware market in the U.S. in
the near future.
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In Middle East & Africa, GCC is the
leading sub-region of the market, followed by South Africa. Middle East
& Africa is likely to be an attractive region of the market with
investment opportunities for companies. In South America, Brazil is the
leading economy driving the gaming hardware market.
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