Gaming is currently one of the most important and inventive industry in technology. The ever-expanding gaming business is driving up demand for new consoles. From the early days of arcades to the rise of home consoles, the gaming business has changed dramatically. The scope of gaming controllers is expanding with the introduction of superior wired and wireless game controllers and other accessories in the gaming controller market. Other factors boosting the usage of gaming controllers, such as the launch of new consoles such as the Playstation 5, and the coupling of virtual reality with controllers, are among the other causes driving market growth.
What is a Gaming Controller?
Gaming controller is an data input device generally used with video games and entertainment systems to offer input in video games or control objects or avatars in the games. Over the years, there has been significant improvements in features and styles of gaming controllers and now include directional pads, analog sticks, motion detection, touch screens, and multiple buttons. Gaming controllers also are available in wireless versions and with rapid advancements in virtual reality applications, gaming controllers are now being equipped with wireless motion controls.
According to Emergen Research, the worldwide gaming controller market size was USD 1.78 billion in 2020 and is predicted to reach USD 3.49 billion in 2028 and register a CAGR of 8.9% during the forecast period, 2021-2028.
Top Companies in Gaming controller Industry:
- Logitech International S.A.
- Microsoft Corporation
- Sony Corporation
- Nintendo Co. Ltd.
- Razer, Inc.
- HORI USA Inc.
- Mad Catz Global Limited
- Guillemot Corporation S.A.
- dreamGEAR, LLC
- Speedlink USA, Inc.
Microsoft’s Xbox, Nintendo’s Wii, and Sony’s Playstation have all succeeded in grabbing gamers’ attention to their advanced consoles. Furthermore, PC gaming has opened doors for gamers desiring greater dexterity and convenience of use while playing games. In addition, console manufacturers, like as Sony and Microsoft, are providing cloud-based subscription services even while they continue to develop and release new consoles.
The COVID-19 epidemic has led in an increase in TV viewership and video game uptake among the general public. During the pandemic, the Internet gaming industry saw a rapid increase in the number of players as a common activity to combat physical distance for society with the regional population at home and unable to function, a strategy advocated by the World Health Organization that has helped many gaming companies increase profits. Furthermore, the pandemic has inspired the massive populations of emerging nations like India and China to use OTT platforms for new entertainment, on-demand videos, and online gaming for refreshment. For example, both Nintendo and Tencent, two Asian gaming behemoths, saw revenue rise in the first quarter.
Key Highlights From Gaming controller Study:
Personal Segment to Account for a Significantly Large Revenue Share:
Personal segment is predicted to dominate other end use segments in terms of revenue share over the forecast period attributable to significant rise in demand for personal gaming controller due to rising popularity of gaming and increasing level of disposable income among individuals, rapidly increasing base of gamers across the world , and increasing affordability of gaming controllers.
North America to steer in Terms of Revenue Share:
North America is predicted to account for largest revenue share over the forecast period attributable to increasing pool of games in the United States and Canada, growing prevalence of professional and casual gamers, availability of high-end gaming controllers within the region, rising spending on online gaming and accessories, and robust presence of key market players.
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