Gaming Peripheral Market Overview
As per MRFR analysis, the Gaming Peripheral Market Size was estimated at 7.92 (USD Billion) in 2022.The Gaming Peripheral Market Industry is expected to grow from 8.59(USD Billion) in 2023 to 17.9 (USD Billion) by 2032. The Gaming Peripheral Market CAGR (growth rate) is expected to be around 8.5% during the forecast period (2024 - 2032).
Key Gaming Peripheral Market Trends Highlighted
The constant technological evolution in the gaming apparatus is shaping up the need for advanced gaming accessories. Other important factors influencing the market are the increasing tendencies towards esports competitions, live streaming and VR gaming experiences. Peripheral manufacturers are investing heavily in research and development on design, practicality, and usage to keep up with the changing dynamics of gamers. Interchangeability and individualization are becoming dominant themes, where gamers want the accessories to be specific to their tastes and gaming habits. The use of high-end technology, such as artificial intelligence and haptic feedback, is improving the gaming experience and increasing the demand for high-end peripherals.
New prospects for the peripheral market for the gaming industry include the growth of mobile and cloud gaming systems, which are opening up new possibilities for peripherals. Manufacturers are targeting a larger audience of gamers on different platforms by focusing on wireless and cross-platform compatibility. Another trend that is emerging is the increasing subscriptions to gaming services that give opportunities to peripheral developers to target such an audience with subscription-based peripherals and supplementary services.
Figure 1: Gaming Peripheral Market Size, 2025-2034 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Gaming Peripheral Market Drivers
Rising Popularity of Esports and Competitive Gaming
The increasing popularity of esports and competitive gaming is a major driver of the Gaming Peripheral Market. Esports tournaments offer large cash prizes and attract millions of viewers worldwide, leading to a surge in demand for high-performance gaming peripherals. Professional gamers require specialized equipment to enhance their skills and gain a competitive edge in tournaments. Gaming peripherals such as gaming mice, keyboards, headsets, and controllers are designed to provide precision, comfort, and responsiveness, enabling gamers to perform at their best.The rise of esports and competitive gaming has created a lucrative market for gaming peripheral manufacturers, as gamers are willing to invest in premium peripherals to improve their chances of success in tournaments.
Technological Advancements and Innovation
The rapid pace of technological advancements is another key driver of the Gaming Peripheral Market. Gaming peripheral manufacturers are constantly innovating and introducing new products with advanced features and capabilities. For example, gaming mice now offer customizable buttons, adjustable sensitivity, and ergonomic designs. Gaming keyboards feature RGB lighting, programmable keys, and anti-ghosting technology. Gaming headsets provide immersive sound experiences with surround sound and noise cancellation.These technological advancements enhance the gaming experience for users and drive demand for gaming peripherals. Furthermore, the integration of artificial intelligence (AI) and machine learning (ML) in gaming peripherals is expected to further revolutionize the market in the coming years.
Growing Popularity of Cloud Gaming
The growing popularity of cloud gaming is also driving the demand for gaming peripherals. Cloud gaming allows users to stream games over the internet, eliminating the need for expensive gaming consoles or high-end PCs. This makes gaming more accessible to a wider audience, including casual gamers and those with limited resources. As cloud gaming becomes more mainstream, the demand for gaming peripherals that are compatible with cloud gaming services is expected to increase.Gaming peripheral manufacturers are already offering products designed specifically for cloud gaming, such as controllers with built-in cloud gaming buttons and headsets with low-latency audio.
Gaming Peripheral Market Segment Insights
Gaming Peripheral Market Input Device Insights
Keyboards, mice, joysticks, gamepads, and headsets are the primary sub-segments of this market. Keyboards account for the largest revenue share within the Input Device segment, owing to their extensive use in gaming setups. Gaming keyboards offer enhanced features such as customizable backlighting, programmable keys, and ergonomic designs, catering to the specific needs of gamers. Mice are another significant sub-segment, with high-precision gaming mice gaining popularity among professional and casual gamers alike.
These mice feature adjustable DPI settings, customizable buttons, and ergonomic designs to provide optimal control and comfort during gameplay.Joysticks and gamepads are primarily used in console and flight simulation gaming. Joysticks offer a more immersive experience in flight simulation games, while gamepads provide a comfortable and familiar control scheme for console gaming. Headsets are essential for multiplayer gaming and immersive audio experiences. Gaming headsets feature noise-canceling microphones, surround sound capabilities, and customizable audio settings to enhance communication and in-game immersion.
The growth of the Input Device segment is driven by increasing gaming popularity, technological advancements, and the rise of e-sports.As gaming becomes more mainstream and accessible, the demand for high-quality peripherals to enhance the gaming experience is growing. Moreover, the integration of advanced technologies such as haptic feedback and wireless connectivity is further fueling market growth.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Gaming Peripheral Market Connectivity Insights
The Gaming Peripheral Market is segmented by Connectivity into Wired, Wireless, and Bluetooth. The Wired segment held the largest market share in 2023, accounting for over 60% of the Gaming Peripheral Market revenue. The Wireless segment is expected to grow at the highest CAGR during the forecast period, owing to the increasing popularity of wireless gaming peripherals due to their convenience and flexibility. The Bluetooth segment is also expected to witness significant growth, driven by the rising adoption of Bluetooth-enabled gaming peripherals such as headsets and controllers.The growth of the Wireless and Bluetooth segments is expected to be driven by the increasing popularity of mobile gaming and the growing adoption of smart devices.
Gaming Peripheral Market Price Range Insights
The Gaming Peripheral Market segmentation by price range offers insights into the market share and growth prospects of different price segments. The market is segmented into three major categories: Budget, Mid-Range, and Premium. The Budget segment caters to value-conscious consumers, offering affordable options with basic features at a lower price point. In 2023, the Budget segment accounted for 38% of the Gaming Peripheral Market revenue.
The Mid-Range segment offers a balance of price and performance, targeting consumers seeking enhanced features and improved quality without breaking the bank.This segment held a 42% share of the market in 2023 and is projected to maintain a steady growth rate over the forecast period. The Premium segment targets high-end consumers seeking top-of-the-line features, exceptional performance, and premium materials. In 2023, the Premium segment accounted for 20% of the Gaming Peripheral Market revenue and is expected to witness significant growth due to the increasing demand for immersive and high-quality gaming experiences.
Gaming Peripheral Market Usage Insights
The Usage segment in the Gaming Peripheral Market holds immense revenue potential, with different types of gamers driving demand for specialized peripherals. Casual gamers, who make up the majority of the market, prioritize comfort and affordability. The 'Casual Gaming' segment is estimated to generate a revenue of $4.6 billion in 2024, driven by the growing popularity of mobile and casual gaming platforms.
On the other hand, the 'Competitive Gaming' and 'Professional Gaming' segments are expected to witness substantial growth due to the rise of e-sports tournaments and the increasing number of professional gamers.The 'Competitive Gaming' segment is projected to reach $2.9 billion in revenue by 2024, while the 'Professional Gaming' segment is anticipated to garner $1.2 billion in revenue during the same period. These segments demand high-performance peripherals such as gaming mice, keyboards, and headsets to enhance their competitive edge and improve their in-game performance.
Gaming Peripheral Market Platform Compatibility Insights
The platform compatibility segment of the Gaming Peripheral Market is characterized by the compatibility of gaming peripherals with different gaming platforms. The key platforms in this market are PC, consoles (Xbox, PlayStation), and mobile devices. In 2023, the PC platform held the largest market share in the Gaming Peripheral Market, accounting for around 45% of the total revenue. This dominance is attributed to the popularity of PC gaming and the wide range of peripherals available for PC gamers, including keyboards, mice, headsets, and controllers.
The console platform is expected to witness significant growth in the coming years, owing to the increasing popularity of console gaming and the launch of new consoles such as the PlayStation 5 and Xbox Series X/S. In 2024, the console platform is projected to account for approximately 30% of the Gaming Peripheral Market revenue. Mobile devices are also gaining traction as a gaming platform, driven by the growing popularity of mobile gaming and the availability of powerful smartphones and tablets. The mobile platform is expected to account for around 25% of the Gaming Peripheral Market revenue in 2024, primarily driven by the demand for mobile gaming controllers, headsets, and other accessories.
The growth of the Gaming Peripheral Market is attributed to several factors, including the increasing popularity of gaming, the rising disposable income of gamers, and the technological advancements in gaming peripherals. The market is also benefiting from the growing adoption of cloud gaming and virtual reality (VR) technologies, which are creating new opportunities for gaming peripheral manufacturers.
Gaming Peripheral Market Regional Insights
The Gaming Peripheral Market is segmented into North America, Europe, APAC, South America, and MEA based on region. North America is the largest regional market for gaming peripherals, followed by Europe. The APAC region is expected to grow at the highest CAGR during the forecast period. The growth of the North American gaming peripheral market is attributed to the increasing popularity of gaming consoles and PCs, as well as the rising disposable income of consumers.
The European market is also growing steadily, driven by the increasing popularity of esports and the growing number of gamers.The APAC region is expected to witness the highest growth rate due to the increasing popularity of mobile gaming and the growing middle class. The South American and MEA markets are relatively smaller, but they are expected to grow at a moderate pace in the coming years. In 2023, the Gaming Peripheral Market revenue was estimated to be around USD 8.59 billion. The growth of the market is attributed to the increasing popularity of gaming, the rising number of gamers, and the growing adoption of advanced technologies in gaming peripherals.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Gaming Peripheral Market Key Players And Competitive Insights
The Gaming Peripheral Market industry is fiercely competitive, with numerous major players vying for market share. Leading Gaming Peripheral Market players are constantly innovating and developing new products to cater to the evolving demands of gamers. Intense competition has spurred the Gaming Peripheral Market development, resulting in the emergence of advanced technologies and features that enhance the gaming experience.
Key players in the Gaming Peripheral Market are investing heavily in research and development to stay ahead of the curve and maintain their competitive edge.A notable competitor in the Gaming Peripheral Market is Razer Inc., a leading provider of high-performance gaming peripherals and accessories. Razer is renowned for its innovative designs, exceptional build quality, and robust software ecosystem that enhances the gaming experience.
The company offers a wide range of peripherals, including gaming mice, keyboards, headsets, and controllers, catering to both casual and professional gamers. Razer's commitment to ergonomics and functionality has earned it a loyal following among gamers worldwide.Another prominent player in the Gaming Peripheral Market is Logitech G, a division of Logitech International S.A. Logitech G specializes in designing and manufacturing gaming peripherals and accessories.
The company is known for its high-quality products that combine advanced technology with user-centric design. Logitech G offers a comprehensive range of peripherals, including gaming mice, keyboards, headsets, and steering wheels, designed to meet the diverse needs of gamers. Logitech G's focus on innovation and customer satisfaction has positioned it as a formidable competitor in the Gaming Peripheral Market.
Key Companies in the Gaming Peripheral Market Include:
- X Rocker
- DuckyChannel
- Thrustmaster
- Turtle Beach
- Logitech
- Virtuix
- Razer
- ASUS
- MSI
- HyperX
- Corsair
- ASTRO Gaming
- Scuf Gaming
- Mad Catz
- SteelSeries
Gaming Peripheral Market Industry Developments
- In 2023, the market size was valued at USD 8.59 billion, and it is projected to reach USD 17.9 billion by 2032, exhibiting a CAGR of 8.5%.- The growth is attributed to the increasing popularity of gaming, the rise of esports, and the advancement of gaming technologies.- Key players in the market include Razer, Logitech, and Corsair.- The market is segmented by product type, including headsets, keyboards, mice, and controllers.- The Asia-Pacific region is expected to be the fastest-growing market, driven by the increasing disposable income and the growing popularity of gaming in the region.- The market is also expected to benefit from the increasing adoption of virtual reality (VR) and augmented reality (AR) in gaming.
Gaming Peripheral Market Segmentation Insights
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Gaming Peripheral Market Input Device Outlook
- Keyboards
- Mice
- Joysticks
- Gamepads
- Headsets
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Gaming Peripheral Market Connectivity Outlook
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Gaming Peripheral Market Price Range Outlook
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Gaming Peripheral Market Usage Outlook
- Casual Gaming
- Competitive Gaming
- Professional Gaming
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Gaming Peripheral Market Platform Compatibility Outlook
- PC
- Consoles (XBOX, PlayStation)
- Mobile Devices
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Gaming Peripheral Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
7.92(USD Billion) |
| Market Size 2023 |
8.59(USD Billion) |
| Market Size 2032 |
17.9(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
8.5% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
X Rocker, DuckyChannel, Thrustmaster, Turtle Beach, Logitech, Virtuix, Razer, ASUS, MSI, HyperX, Corsair, ASTRO Gaming, Scuf Gaming, Mad Catz, SteelSeries. Â Â Â |
| Segments Covered |
Input Device, Connectivity, Price Range, Usage, Platform Compatibility, Regional. Â Â Â |
| Key Market Opportunities |
Growing esports ecosystem Increasing popularity of cloud gaming The rise of virtual and augmented reality. Customization and personalization options Wireless and portable gaming peripherals |
| Key Market Dynamics |
The rising popularity of esports Technological advancements in gaming consoles Increasing disposable income levels Growing demand for immersive gaming experiences The surge in popularity of VR and AR gaming |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Gaming Peripheral Market size was valued at USD 8.59 billion in 2023 and is projected to reach USD 17.9 billion by 2032, exhibiting a CAGR of 8.5% during the forecast period.
North America is expected to account for the largest market share in the global gaming peripherals market during the forecast period due to the presence of a large number of gaming enthusiasts and the high adoption of advanced gaming technologies in the region.
The growth of the Gaming Peripheral Market is primarily attributed to the increasing popularity of online gaming, the rising adoption of virtual reality (VR) and augmented reality (AR) technologies, and the growing demand for high-performance gaming peripherals.
The mice segment is expected to hold the largest share of the global gaming peripherals market in 2023. The growing popularity of first-person shooter (FPS) and multiplayer online battle arena (MOBA) games has increased the demand for high-precision and customizable gaming mice.
Some of the key competitors in the Gaming Peripheral Market include Logitech, Razer, Corsair, HyperX, and SteelSeries. These companies offer a wide range of gaming peripherals, including mice, keyboards, headsets, and controllers.
Gaming peripherals are primarily used for playing video games, professional gaming competitions, and live streaming. They provide gamers with enhanced control, precision, and comfort during gameplay.
The Gaming Peripheral Market is expected to grow at a CAGR of 8.5% from 2024 to 2032.
The Gaming Peripheral Market faces challenges such as intense competition, rapid technological advancements, and fluctuating raw material prices.
The growing popularity of cloud gaming, the increasing adoption of mobile gaming, and the rising demand for immersive gaming experiences present significant opportunities for the Gaming Peripheral Market.
Key trends in the Gaming Peripheral Market include the integration of artificial intelligence (AI), the development of wireless and ergonomic peripherals, and the customization of gaming peripherals to meet the specific needs of gamers.
