The Increasing Gaming Population is Driving the Growth of the Gaming Hardware Market
Globally, the gaming hardware market is expected to grow with a CAGR of 15.7% during the forecast period from 2019 to 2027, starting from US$ 135.25 Bn in 2018. The market is propelled by the increasing number of gamers across the globe. Over the past decade, the number of gamers, including serious gamers, enthusiast gamers, and casual gamers, has increased significantly. As a result, the total number of gamers was estimated to be around 2.2 billion in 2018, i.e., approximately 30% of the world population. The number is further estimated to cross 2.6 billion by the end of 2020. The growth is mainly driven by the advancement in gaming hardware and the integration of new technologies to provide an immersive gaming experience.
The development of new multiplayer games with advanced technologies such as augmented reality and virtual reality is also acting as a major driver for the growth of the market. Furthermore, the rising computation required for AAA games is also accelerating the adoption of the gaming hardware market. However, the growing demand for mobile gaming and cloud gaming is restricting the growth of the gaming hardware market.
Market Synopsis
Head Mounted Devices to Grow Significantly During the Forecast Period
The gaming hardware market is bifurcated based on the product type into a gaming console, joystick console, head-mounted devices, and GPUs. Gaming consoles accounted for more than 45% share of the overall gaming hardware market. The growth of the market is credited to the large-scale adoption of gaming consoles. On the other hand, head-mounted displays are estimated to grow significantly during the forecast period. The market is driven by the growing demand for 3D gaming solutions.
North America is Leading the Gaming Hardware Market
The Asia Pacific accounted for more than 32% of the gaming hardware market in 2018. The market is driven by the increasing gaming population across the region. China and South Korea are estimated to account for the majority of the gaming population. Furthermore, the increasing disposable income of the population in the emerging economies, along with the willingness to pay for gaming consoles.
Major players in the gaming hardware market are Apple Inc, Activision Blizzard Inc, Google Inc, Sony Corporation, Linden Research Inc, HTC Corporation, Microsoft Corporation, NVIDIA Corporation, Nintendo, Logitech International, Sega Games Co Ltd, Oculus VR LLC, and Venom UK Ltd.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The gaming hardware market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global gaming hardware market based on product type, application, and geography.
Frequently Asked Questions
The market for Gaming Hardware is expected to reach USD XX Mn by 2027.
The Gaming Hardware market is expected to see significant CAGR growth over the coming years, at 15.7%.
The report is forecasted from 2019-2027.
The base year of this report is 2018.
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