Gaming hardware includes a wide range of devices which are used to enhance the gaming experience. This includes high end HD display TV’s, high graphic PC’s, smartphones, coupled with a variegated range of accessories such as gaming consoles, VR glasses, etc. These devices significantly enables the user to experience realistic representation of players and environment during gameplay. Moreover, innovative technologies such as 3D gaming and interactive glasses are further enhancing the experience and also driving constant innovation in the gaming hardware world.
The global demand for gaming hardware is expected to expand with a faster growth rate compared to demand for general PC hardware, and the global gaming hardware market is henceforth, anticipated to expand with an impressive CAGR over the forecast period.
Global Gaming Hardware Market: Drivers and Restraints
The prime factor driving the growth in the global gaming hardware market is the increasing expenditure by gamers on advanced next generation gaming consoles. Moreover, the advent of high definition TV’s and high graphic PC’s and laptops is another factor fuelling more demand for gaming hardware. This coupled with an increase in number of AAA games requiring high computing and display power, will further fuel the gaming hardware market. Increasing demand for VR is set to drive revenues in the global gaming hardware market, as gamers are showing high inclination towards games which have superfast frame speeds. Furthermore, with increasing internet penetration and the advent of Internet of Things (IoT), a large number of advanced multiplayer games is creating new enthusiasm is gamers to opt for high end consoles and peripherals. With a large number of gamers still stuck to PC gaming, regular hardware consoles are a reality, as these users shows high inclination towards technology updates, thus driving continuous revenues in the global gaming hardware market.
A recent shift of casual gamers towards mobile phones and tablets, might affect the revenues in the global gaming hardware market, as they shift from high end PC’s and consoles
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Global Gaming Hardware Market: Regional Outlook
The Global gaming hardware market is segmented into the seven key regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). APEJ is expected to dominate the global demand for gaming hardware throughout the forecast period, followed by North America and Western Europe. In APEJ a prominent share of demand is anticipated to come from China, followed by South Korea. However, Japan is also anticipated to account a significant market share for gaming hardware over the forecast period. Western Europe and North America are anticipated to execute a sluggish growth in demand for gaming hardware. Increasing penetration of PC and Consoles in Latin America is expected to translate into a significantly higher growth rate over the forecast period. Moreover, Eastern Europe and Middle East and Africa are also anticipated to execute a prominent CAGR over the forecast period compared to the matured markets of North America and Western Europe.