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Rising Demand for Gaming Accessories amongst Casual and Professional Gamers will lead to the Growth of the Global Gaming Accessories Market – A Report by Absolute Markets Insights

Published On 22 Oct 2021 01:19 PM


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In terms of revenue, the global gaming accessories market was valued at US$ 7825.21 Mn in 2020 growing at a CAGR of 12.54% over the forecast period (2021 – 2029).

Wired Accessories Accounted for the Highest Share in 2020

Wired accessories accounted for the highest revenue share in the global gaming accessories market in 2020. Greater connectivity of wired accessories, coupled with lower latency and higher sensitivity of these devices, is contributing towards the larger revenue share of these devices in the global gaming accessories market. Wired gaming mice, for instance, is resistant to outside interference, which in turn reduces response time. Wired accessories are generally cheaper as compared to wireless accessories, which is further increasing the demand for these accessories amongst casual gamers. Coconut wired gaming mouse, for instance, is available for around US$ 9 on online platforms. Hence, wired accessories is seeing higher adoption as compared to wireless devices.

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Asia Pacific Region to Show the Highest Growth Rate During the Forecast Years (2021-2029)

Based on Absolute Markets Insight's Findings, the Asia Pacific region is expected to showcase the highest growth rate during the forecast years in the global gaming accessories market. The growth of online distribution channels such as Amazon, Alibaba, and Flipkart, coupled with the rise in awareness and interest regarding casual gaming is a major reason for the higher revenue forecast in the Asia Pacific region. Furthermore, countries such as Japan, South Korea and China are largely focussing on professional gaming tournaments, and professional gaming accessories are growing in demand. Also, the region is seeing the growth of local gaming accessory manufacturers, driven by government initiatives to promote electronics manufacturing in countries like China, India and Indonesia, amongst others. Micro-Star International Co., Ltd, for instance, is a Taiwan-based electronics manufacturing company that has started providing gaming accessories such as keyboards, mice, audio devices and controllers, amongst others. These factors will help the Asia Pacific region emerge as a prominent market in the global gaming accessories market in the coming years.

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COVID-19 Pandemic is Expected to Have a Positive Impact

The COVID-19 pandemic has drastically changed the lifestyle of individuals around the globe. Numerous nations enforced lockdown measures to curb the spread of coronavirus using social distancing norms, and individuals were forced to stay indoors as a result of the same. However, the pandemic has a positive impact on the global gaming accessories market, as there was a higher demand for these accessories as individuals were relying on gaming and entertainment for keeping them occupied during this period. Professional gaming tournaments were held online, which in turn resulted in the higher adoption of gaming accessories. Mobile gaming, for instance, saw rapid growth during the initial months of the pandemic. In India, for example, reports suggest that around 7.1 billion downloads were made during the first three months of the pandemic. Hence, the gaming accessories market is expected to considerable growth in the next few years driven by the pandemic conditions.

Competitors:

Some of key players operating in the global gaming accessories market are Anker Innovations Limited, ASUSTEK COMPUTER INC., Cooler Master Technology inc., CORSAIR, Dell Inc., Eastern Times Technology Co., Ltd  (REDRAGON ZONE), Endor AG (Fanatec), Facebook Technologies, LLC., Guillemot Corporation S.A. (Thrustmaster), HP Development Company, L.P., Lenovo, Logitech, Mad Catz Global Limited., Micro-Star INT'L CO., LTD.,  Nintendo, NVIDIA Corporation, Razer Inc.,  SADES Technological Corporation, SAMSUNG, Sony Corporation, SteelSeries ApS, Turtle Beach, amongst others.

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Global Gaming Accessories Market

By Distribution Channel

  • Online
  • Offline

By Device Type

  • Desktop and Laptop
  • Gaming Consoles
  • Smartphones and Tablets
  • Others

By Application

  • Leisure
  • Professional

By Connectivity

  • Wired
  • Wireless

By Accessory Type

  • Gaming Mouse and Mouse Pad
  • Gaming Headphones
  • Gaming Controllers
  • Gaming Keyboards
  • Cables and Adapters
  • Gaming Cameras
  • Gaming Furniture
  • Gaming Monitors
  • Gaming Microphones
  • VR Headsets
  • Driving Devices
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Finland
      • Iceland
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

For More Information [email protected] https://www.absolutemarketsinsights.com/reports/Global-Gaming-Accessories-Market-2021---2029-937

Contact Us:

Company: Absolute Markets Insights
Email id: [email protected] 
Phone: +91-740-024-2424
Contact Name: Shreyas Tanna
The Work Lab,Model Colony, Shivajinagar, Pune, MH, 411016
Website: https://www.absolutemarketsinsights.com/


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Press Release Provided By: Absolute Markets Insights