Gaming Peripheral Market Size, Share, Trends, Growth 2032

Gaming Peripheral Industry Prospective:

The global gaming peripheral market size was worth around USD 4.95 billion in 2023 and is predicted to grow to around USD 11.20 billion by 2032 with a compound annual growth rate (CAGR) of roughly 9.5% between 2024 and 2032.          

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Gaming Peripheral Market: Overview

Accessories such as headphones, gamepads, joysticks, tablet pens, gaming mice, keyboards, external hard drives, and media card readers are all considered gaming peripherals. These accessories are essential for improving the gaming experience on PCs and gaming consoles; they are not just accessories. Crafted with a sharp eye on custom comfort and customization, they give players the tools they need to become more proficient players. They have special buttons, sophisticated sensors, and specialized software that provide more control, accuracy, and customization possibilities.

These peripherals are made with longevity in mind, outlasting their conventional equivalents, and are designed to endure the rigors of hard gaming sessions. They have developed into vital resources for players looking to get the most out of their gameplay by constantly changing to satisfy the changing needs of the gaming community.

Key Insights

• As per the analysis shared by our research analyst, the global Gaming Peripheral market is estimated to grow annually at a CAGR of around 9.5% over the forecast period (2024-2032).
• In terms of revenue, the global Gaming Peripheral market size was valued at around USD 4.95 billion in 2023 and is projected to reach USD 11.20 billion, by 2032.
• The increasing product launch is expected to drive market growth during the forecast period.
• Based on the product, the Headsets segment is expected to dominate the market during the forecast period.
• Based on the device, the PC segment is expected to hold the largest market share during the forecast period.
• Based on the type, the wireless segment is expected to grow at a substantial rate over the forecast period.
• Based on the distribution channel, the online segment is expected to grow at a rapid rate during the forecast period.
• Based on region, North America is expected to dominate the market over the projected period.

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Gaming Peripheral Market: Growth Drivers

The introduction of PCs and ultra-high definition (HD) TVs drives market growth

Efficiency and superior quality are the two main attributes that gamers look for in a system. Pictures ought to be clear, vibrant, and have true color. Improved sound quality is another feature of Ultra HD PCs and TVs. As a result, they like using gaming accessories to play games on HDTVs and PCs. Thus, the market's sales are being driven by the rising sales of HDTVs and PCs. Additionally, several industry players are releasing new TV models that support controllers.

For instance, Samsung Electronics Co., Ltd. unveiled its vision for the upcoming generation of smart TVs in January 2022. This generation will feature non-fungible tokens (NFTs), cloud-based services, and video chatting while watching TV. Thus, this is expected to drive the gaming peripherals market growth during the forecast period.

Gaming Peripheral Market: Restraints

Growing popularity of mobile gaming impeding market growth

In recent years, there has been an acceleration in the expanding acceptance of smart gadgets and multimedia. The demand for mobile games is rising as more people carry around small electronics like smartphones and tablets. Over three-quarters of the money generated by the mobile market comes from smartphones, with tablets making up the remaining portion.

Additionally, since the majority of gaming applications are free to download and don't require a set of devices, players may now play games from anywhere at any time due to their availability on smartphones. Additionally, adding comfort to these games does not require gaming accessories. Thus, over the projected period, the market's expansion will be hindered by the growing popularity of mobile gaming.

Gaming Peripheral Market: Opportunities

Increasing product launches offers a lucrative opportunity for market growth

The increasing product launch is expected to offer a lucrative opportunity for market growth during the forecast period. For instance, in August 2023, the Republic of Gamers (ROG) by ASUS announced that on August 22 at 4:00 p.m. CEST (GMT+2), it will be live streaming a press conference for ROG Gamescom. During the event, the company will introduce exciting new products, hold a ROG Gamescom 2023 giveaway, and host other fun fan-engagement activities.

Gamescom 2023 will take place in Cologne, Germany, from August 22–24. ROG will be showcasing its most recent cutting-edge accessories, peripherals, and other innovations that elevate gaming. At the ROG press conference, notable figures and influencers in the gaming world will also be present to offer their opinions on the most recent additions to the ROG armory.

Gaming Peripheral Market: Challenges

High cost poses a major challenge to market expansion

It is anticipated that the high price of gaming peripherals including joysticks, keyboards, and mice would hinder the market's expansion. Gamers were compelled to spend more money on peripherals because there were no sophisticated gaming peripherals available, including DPI microphones and anti-ghost switches. Thus, posing a major challenge to gaming peripheral industry growth.

Gaming Peripheral Market: Segmentation

The global Gaming Peripheral industry is segmented based on product, device, type, distribution channel and region.

Based on the product, the global Gaming Peripheral market is bifurcated into Keyboard, Headsets, Controller, Mice and Others. The Headsets segment is expected to dominate the market during the forecast period. With the immersive audio experience that headsets provide, players may encounter improved dialogue, sound effects, and background music. For instance, the Indian gaming gear firm Cosmic Byte introduced the Equinox Neutrino and Equinox Kronos Wireless in July 2022. Mobile, PC, PS4, tablets, XBOX, and PS5 can all use the headsets. There are numerous prospects for business expansion since headphones make gaming fun and interesting.

Based on the device, the global Gaming Peripheral industry is categorized into Gaming Consoles and PC. The PC segment is expected to hold the largest market share during the forecast period. The PCs may be equipped with dedicated graphics cards, powerful CPUs, and plenty of RAM. When compared to other gaming platforms, the significant degree of customization that PCs provide improves gaming performance. In addition to specialized forums and multiplayer servers, the large online gaming community presents prospects for PC platforms that facilitate competitive play, social connection, and cooperative play. Moreover, PCs' multitasking and adaptability provide for a smooth and integrated gaming experience.

Based on the type, the global Gaming Peripheral market is segmented into Wireless and Wired. The wireless segment is expected to grow at a substantial rate over the forecast period. The segment expansion is attributed to the introduction of new products in the industry. For instance, in January 2024, Alienware launched a new pro wireless keyboard and mouse to aid competitive gamers in winning.

Based on the distribution channel, the global Gaming Peripheral industry is segmented into Offline and Online. The online segment is expected to grow at a rapid rate during the forecast period. The main factors driving the expansion of online distribution channels are the notable rise in e-commerce platforms and the growing popularity of online purchasing. Online stores sell a wide range of goods, such as keyboards, headphones, mice, and more. They allow players to go through a range of models, features, and brands to locate peripherals that suit their tastes and demands for gaming. The segment's development is fueled by additional features such as simple information access, search functionality, user-friendly filters, and the availability of gaming accessories internationally.

Gaming Peripheral Market: Report Scope

Regional Analysis

North America is expected to dominate the market over the projected period

North America is expected to dominate the market over the projected period. There is a strong gaming culture in North America. The demand for premium peripherals is fueled by the existence of a sizable and diversified gaming community that includes both casual and die-hard players. This demand is further increased by esports competitions, gaming conferences, and the widespread use of game streaming services. The gaming peripherals market in North America is distinguished by its technological innovation.

Leading producers of gaming peripherals and tech businesses that are always pushing the limits of what gaming accessories can provide call this region home. Cutting-edge wireless technology, adjustable RGB lighting, and sophisticated sensors are just a few examples of innovations that come from North American businesses and grab attention throughout the world.

Gaming Peripheral Market: Competitive Analysis

The global Gaming Peripheral market is dominated by players like:

• CORSAIR
• Dell Inc. (Alienware)
• Logitech
• HyperX/Kingston Technology Company Inc.
• Rapoo Corporation
• Plantronics Inc.
• Razer Inc.
• Redragon USA
• Turtle Beach
• Cooler Master Technology Inc.
• Anker Innovations Limited

The global Gaming Peripheral market is segmented as follows:

By Product

• Keyboard
• Headsets
• Controller
• Mice
• Others

By Device

• Gaming Consoles
• PC

By Type

• Wireless
• Wired

By Distribution Channel

• Offline
• Online

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa