Gaming Hardware Market Outlook (2023 to 2033)

The global gaming hardware market is forecasted to be valued at USD 36,739.7 million in 2023. During the forecast period spanning from 2023 to 2033, the sales of gaming hardware are projected to experience substantial growth at a CAGR of 4.9%. By 2033, the gaming hardware industry is anticipated to reach an impressive valuation of USD 59,464.4 million.

In forthcoming years, virtual reality headset sales will continue to grow significantly in the commercial sector. Gaming hardware will continue to grow in market share as mobile game applications demand increases. During the historical period from 2018 to 2022, the demand for gaming hardware exhibited a steady growth with a value CAGR of 4%.

Data Points Key Statistics
Expected Market Value (2023) USD 36,739.7 million
Anticipated Forecast Value (2033) USD 59,464.4 million
Projected Growth Rate (2023 to 2033) 4.9%

Gaming is one of the fastest growing industries in the world, and it is continuing to grow at a staggering pace. The occasional game stands out among the crowd and has millions of players worldwide. Since the beginning of this decade, gaming hardware has experienced an increase in demand. Gaming hardware offers a realistic representation of players and environments during gameplay, which is what attracts consumers and gamers to the gaming industry.

With innovations such as 3D gaming and augmented reality glasses, the concept of gaming hardware is constantly evolving and further enhancing the gaming experience. Gaming hardware demand is expected to grow faster than PC hardware demand over the forecast period, resulting in rapid growth for the global gaming hardware market.

Global gaming hardware sales are expected to gain substantial momentum over the next few years due to these factors. In addition, gaming hardware market is heavily influenced by the residential market. Over the forecast period, residential end-users will demand more gaming hardware. In the coming years, handheld console demand is expected to grow among residential end users.

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Factors Contributing to the Growth of the Gaming Hardware Market

The increasing expenditure of gamers on advanced next generation gaming consoles is driving the global gaming hardware market. In addition, the advent of high definition televisions and the rise of premium laptops and PCs with high-quality graphics is another factor contributing to the increase in the demand for gaming hardware.

The trend is expected to be further fueled by the increase in the amount of AAA games that will require high levels of computing power and display capabilities. Global gaming hardware revenues are expected to rise as VR demand increases, as gamers are increasingly inclining towards games with superfast framerates.

Moreover, emerging technologies like the Internet of Things (IoT) and growing internet penetration are creating new interest among gamers in higher end consoles and peripherals. As a large number of gamers remain devoted to PC gaming, regular gaming hardware consoles are becoming more common, as users show a high degree of inclination to technological updates, resulting in continual revenue growth for gaming hardware providers.

Factors Limiting the Growth of Gaming Hardware Market

Gaming hardware revenues may be negatively affected by the shift of casual gamers to mobile devices and tablets from high-end PCs and consoles. It is however unlikely that the global gaming hardware market will grow due to the high costs connected with gaming hardware, such as virtual reality.

Moreover, both a lack of internet speed and a lack of high-quality graphics systems will hinder the growth of these markets. There is a risk that new technologies and innovations will outdate other products in the market, further posing a threat to the growth of gaming hardware products.

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Region-wise Insights

Rising eSports Popularity and Technological Advancements Drive Gaming Hardware Sales in North America

According to Future Market Insights, since North America has high purchasing power and lower barriers to entry for gaming systems, it dominates the gaming hardware market. In 2022, North America held a market share of 26.5%.

A significant number of key players is also expected to drive the growth of the region's gaming hardware market during the projection period. Also, customers in North America are expected to increase their use of high-speed internet and smart devices during the forecast period, which will create opportunities for the gaming hardware market.

Expanding Gaming Community and Growing Disposable Income: The Asia Pacific Gaming Hardware Market Shows Promising Potential for Growth

Global gaming hardware demand is expected to be dominated by the Asia Pacific, followed by North America and Western Europe. A major factor that drives the market is the growing number of people that are playing video games throughout the region. Games are growing at an accelerated rate in India that can be compared to other sub-sectors of the entertainment industry, including cinema and home entertainment.

It is estimated that India's gaming industry accounted for less than 1% of the global gaming market compared to those of China and the U.S.

PC gaming culture is believed to be the dominant gaming culture in China and South Korea, representing most of the gaming population. A major factor driving the purchase of gaming consoles in the market is the emergence of emerging economies coupled with an increase in disposable income.

Innovation and an increasing number of manufacturers will drive the gaming hardware market in the Asia Pacific in the coming years. As smartphones have become more prevalent, more access to the internet, influencers have reached a wide audience, and the COVID-19 lockdown has contributed to the growth of the gaming industry in India. A combination of all these factors will fuel the growth of the gaming hardware market.

Category-wise Insights

Category Gaming Platform
Leading Segment Gaming Hardware in TV
Market Share 43.4%
Category Product Type
Leading Segment Gaming Hardware in Consoles
Market Share 18.3%

The TV Gaming Connection: Television Trends Reshape Gaming Hardware Demand

The gaming industry has witnessed a surge in immersive gaming features as game developers increasingly incorporate them into their creations. As a result, there is a notable rise in the development of game-centric TVs in the market. These TVs offer a compact and portable design, making them a popular choice among gamers over the years. The affordability of gaming hardware has contributed to their growing popularity in the TV market.

With continuous advancements in gaming technology, there is a surging demand for improved TVs that can keep up with the ever-evolving market. The demand for stunning graphics in gaming devices has been a significant driver of this growth, leading to remarkable expansion in the gaming TV market over the past few years. It is evident that TVs have become an integral part of the gaming industry for consumers worldwide, and this trend is expected to persist during the forecast period.

Gaming Hardware Market Eyes Expansion with Surging Console Demand

The console segment holds a significant position in the gaming hardware market since these offer dedicated gaming experiences with optimized performance and immersive gameplay. Exclusive titles secured by prominent manufacturers like Sony and Microsoft create a sense of loyalty among players. These well-established brands also enjoy strong recognition, further bolstering their market presence.

Consoles' accessibility, with easy setup and competitive pricing, attracts a broad consumer base, including casual gamers. Additionally, the consoles' multiplayer capabilities foster a thriving gaming community, enhancing the overall gaming experience. The longer product lifecycle of consoles provides stability for developers and ensures players enjoy consistent gaming without frequent hardware upgrades.

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Gaming Hardware Sales Soar as Start-ups Shake Up the Industry

Numerous start-ups offering gaming hardware are showcasing no less than the best in gaming hardware and technology. The start-up companies also provide 3D gaming services and VR gaming hardware devices, among other products, services, and distributions in the market. A market for high-end products is developing in response to the increasing use of artificial intelligence in gaming technologies.

  • GAMDIAS, established in 2012 in Taiwan, manufactures high-quality gaming peripherals and technology worldwide. For gamers, PC enthusiasts, and virtual influencers, it specializes in premium peripherals, components, and furniture. It is the company's mission to give gamers of all levels the best gaming experience, allowing them to express themselves freely with passion and creativity. Using high-end technologies coupled with an attractive aesthetic design, GAMDIAS strives to create an environment that anyone can easily immerse themselves in and perform at their peak.
  • Redragon, a company owned by Eastern Times Technology Corporation Limited. A leading manufacturer of high-quality gaming peripherals, including keyboards, mice, and mousepads, this company offers one-stop manufacturing services in the market. The company was founded in 2012, and its headquarters are located in China. The company offers not only an ergonomically perfect keyboard and incredible designs but also high customization and emphasized specialization within various game genres.
  • Anker Innovations Technology was established in 2011 in Shenzhen, China. The company manufactures computer and gaming peripherals such as power banks, earbuds, torches, data hubs, and headphones. The company manages brands such as Soundcore, EUFY, NEBULA, and Roav. Its audio devices enable gamers to enjoy immersive gaming experiences.

Market Competition

It is crucial that global manufacturers are continuously striving to innovate new gaming hardware products in order to stay competitive in the global gaming hardware market. To market themselves, companies use a variety of strategies, including mergers and acquisitions, expansions, collaborations, and partnerships.

Some of the key participants present in the global gaming hardware market include Sony Corporation, Microsoft Corporation, Apple Inc., Google, HTC Corporation, Nintendo, Linden Research, Inc., Activision Blizzard, Inc., Sega Games Co., Ltd., Oculus VR, LLC, GAMDIAS, Anker Innovations Technology, Redragon and Others.

  • In May 2023, LG unveiled its latest range of OLED TVs in India. The company's new offerings included flexible OLED TVs specially designed for gamers.
  • Sony and Microsoft made a joint announcement in May 2022, revealing their intentions to release new gaming consoles: the PS5 Pro and Xbox Series X. These upgraded consoles are scheduled for launch in 2023.
  • In January 2022, Microsoft announced plans to buy Activision Blizzard, the company that publishes games such as Call of Duty, Candy Crush, Diablo, World of Warcraft, Spyro, and more. In terms of size, this is the largest video game acquisition in history, with a USD 68.7 billion purchase. Multiple studios have also been added to Microsoft's first-party lineup, including Infinity Ward, Treyarch, Raven Software, Blizzard Entertainment, King, and Toys for Bob. It is expected that the deal will close by June 2023 at the latest.
  • Gaming startup Zupee, announced a funding of USD 102 million in January 2022. Nepean Capital, an investment firm based in Mumbai, led the Series B round of funding with an investment of USD 72 million. Aside from WestCap Group, Tamales Bay Capital, Nepean Capital, AJ Capital, Matrix Partners India, and Orios Venture Partners, other participants in this round of funding included Tamales Bay Capital.
  • In June 2022, TripleA, a Singapore-based blockchain payment startup, raised USD 4 million in funding from Zventures, Min-Liang Tan's venture arm. Due to its relevance to the gaming industry, TripleA attracted Razer's Venture's attention in the market. By leveraging existing hardware, software, and service ecosystems, TripleA looks forward to accelerating growth and adoption.

Report Scope

Report Attribute Details
Growth Rate CAGR of 4.9% from 2023 to 2033
Market Value in 2023 USD 36,739.7 million
Market Value in 2033 USD 59,464.4 million
Base Year for Estimation 2022
Historical Data 2018 to 2022
Forecast Period 2023 to 2033
Quantitative Units Revenue in USD million and CAGR from 2023 to 2033
Report Coverage Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered Gaming Platform, Product Type, End-user
Regions Covered North America; Latin America; Europe; Asia Pacific; Middle East and Africa
Key Countries Profiled USA, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Israel
Key Companies Profiled Sony Corporation; Microsoft Corporation; Apple Inc.; Google; HTC Corporation; Nintendo; Linden Research, Inc.; Activision Blizzard, Inc.; Sega Games Co., Ltd.; Oculus VR, LLC; GAMDIAS; Anker Innovations Technology; Redragon; Others

Key Segments Profiled in the Gaming Hardware Survey

By Gaming Platform:

  • Gaming Hardware in PC
  • Gaming Hardware in TV
  • Gaming Hardware in Smart Phones/Tablets gaming

By Product Type:

  • Gaming Hardware in Consoles
  • Gaming Hardware for Standard Consoles
  • Gaming Hardware for Handheld Consoles
  • Gaming Hardware Accessories
  • Gaming Hardware in Headsets
  • Gaming Hardware in Cameras
  • Gaming Hardware in Gamepads
  • Gaming Hardware in Steering Wheel
  • Gaming Hardware in Joysticks

By End-user:

  • Residential Gaming Hardware
  • Commercial Gaming Hardware

By Region:

  • North America Gaming Hardware Market
  • Latin America Gaming Hardware Market
  • Europe Gaming Hardware Market
  • Asia Pacific Gaming Hardware Market
  • Middle East and Africa Gaming Hardware Market

Frequently Asked Questions

Which countries dominate the global Gaming Hardware Market?

The United States, China, and Japan dominate the global gaming hardware market.

What is the growth forecast for the Gaming Hardware Market?

The gaming hardware market is forecast to register a CAGR of 4.9% through 2033.

How is the historical performance of the Gaming Hardware Market?

During 2018 to 2022, the market grew at a CAGR of 4%.

Which is the top trend in the Gaming Hardware Market?

Rising popularity of online gaming is disrupting the current market trends.

What is the projected size of the market by 2033?

The global market size to reach USD 59,464.4 million by 2033.

Table of Content
  • 1. Executive Summary
  • 2. Market Overview
  • 3. Market Background
  • 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
  • 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Gaming Platform
    • 5.1. in PC
    • 5.2. in TV
    • 5.3. in Smart Phones/Tablets gaming
  • 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type
    • 6.1. Consoles
    • 6.2. Accessories
    • 6.3. Headsets
    • 6.4. Cameras
    • 6.5. Gamepads
    • 6.6. Steering Wheel
    • 6.7. Joysticks
  • 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-user
    • 7.1. Residential
    • 7.2. Commercial
  • 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
    • 8.1. North America
    • 8.2. Latin America
    • 8.3. Western Europe
    • 8.4. Eastern Europe
    • 8.5. South Asia and Pacific
    • 8.6. East Asia
    • 8.7. Middle East and Africa
  • 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
  • 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
  • 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
  • 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
  • 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
  • 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
  • 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
  • 16. Key Countries Market Analysis
  • 17. Market Structure Analysis
  • 18. Competition Analysis
    • 18.1. Sony Corporation
    • 18.2. Microsoft Corporation
    • 18.3. Apple Inc.
    • 18.4. Google
    • 18.5. HTC Corporation
    • 18.6. Nintendo
    • 18.7. Linden Research, Inc.
    • 18.8. Activision Blizzard, Inc.
    • 18.9. Sega Games Co., Ltd.
    • 18.10. Oculus VR, LLC
    • 18.11. GAMDIAS
    • 18.12. Anker Innovations Technology
  • 19. Assumptions & Acronyms Used
  • 20. Research Methodology
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