The gaming controller market was valued at US$ 1,663.5 million in 2019 and is projected to reach US$ 2,973.5 million by 2027; it is expected to grow at a CAGR of 8.0% from 2020 to 2027.
Millions of people across the world are playing games using PCs and consoles. The new report has showcased that approx. 3.1 billion individuals play video games at a global scale, which is nearly 40% of world population. In context to number of users, India is one of the top five mobile gaming markets. On the other side, Colombia, Nigeria, Indonesia, Peru, Thailand, the Philippines, and Vietnam have also reported utmost numbers of adults inclined towards gaming. Growing number of gamers is influencing the gaming industry, which is anticipated to fuel the adoption of gaming controllers in the market. Also, pertaining to booming gaming trends and evolution in high-definition games, the inclination of gamers for procuring advanced games is increasing. This aspect is contributing toward the market growth.
The gaming controller market is segmented on the basis of product, compatibility, connectivity, distribution, and end user. Based on product, the market is segmented into gamepad, joystick, trackball, throttle quadrant, light gun. The gamepad segment is expected to hold the largest market share during the forecast period. Based on compatibility, the gaming controller market is bifurcated into PC & mobiles and console. In 2019, the PC & mobiles segment accounted for a significant share in the market. By connectivity, the market is bifurcated into wireless and wired. The wired segment accounted for a significant share in the market in 2019. Based on distribution, the gaming controller market is bifurcated into online and offline. In 2019, the offline segment accounted for a larger share in the market. By end user, the market is bifurcated into personal and commercial. The commercial segment is anticipated to be a fastest growing end user of gaming controller market.
North America has the highest acceptance and development rate of emerging technologies owing to the favorable government policies to boost innovation and reinforce infrastructure capabilities. Therefore, any hindrance on industries is projected to hamper the region’s economic development. Currently, the US is the world’s worst affected country due to the COVID-19 outbreak. The crisis is adversely affecting the sudden stands still across all the industries present in the region. For much of the US population, with stay-at-home orders in place, people are searching for ways to pass the time. Many people have switched to video games. In March, there was an unprecedented 75% increase globally in the use of gaming, according to Verizon. Additionally, the US also recorded the highest rise in adoption of video games during the pandemic, with an estimated increase in gamers by 46% across the country. Thus, owing to the factors mentioned above, the demand for gaming controllers such as gamepads, joysticks, and racing wheels is increasing.
The overall gaming controller market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast of the gaming controller market with respect to all the segments. It also provides the overview and forecast for the global market based on all the segmentation provided with respect to five major regions North America, Europe, Asia Pacific, Middle East and Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the gaming controller market.
A few major players operating in the global gaming controller market are Bensussen Deutsch and Associates, LLC; Guillemot Corporation S.A.; HORI USA; Logitech; Mad Catz Global Limited; Microsoft Corporation; Nintendo; Razer Inc.; Sony Corporation; and Scuf Gaming International LLC.