quote Asia-Pacific is the dominant region in the global gaming gadgets market due to large number of the population being active on social media and presence of developing countries such as India, China, South Korea and others. Additionally, surge in gaming gadgets market demand, business inclination towards profitable gadgets, high growth in research and planning, and emerging technological infrastructure are expected to provide significant growth opportunities for the market in Asia-Pacific. Quotation
According to a new report published by Allied Market Research, titled “Gaming Gadgets Market”, the gaming gadgets market size was valued at $52.70 billion in 2021 and is expected to reach $166.96 billion by 2031, with a CAGR of 12.7% from 2022 to 2031.
Gambling has become one of the biggest forms of entertainment in the world over the past two decades. Many consumers, especially young children and teenagers, are turning to gaming as their primary source of enjoyment and entertainment. Games like Fortnite, Minecraft, World of Warcraft and PlayerUnknown’s Battlegrounds are becoming increasingly important in homes around the world. Due to the rise of gaming as a trend, the sales of gaming devices are increasing as these types of devices are required to play games at the highest performance outputs and optimal graphics settings.
Gaming as content and media has become very popular in recent years. Many gamers, Youtubers, and streamers actively create content based on games and gaming devices. Moreover, many of these content creators and entrepreneurs have come together to create organizations called esports organizations that are dedicated only in games. This has led to a surge in the number of people getting into gaming content creation and esports, which has led to an increase in gaming device sales, as gaming devices are needed to produce this type of content. Many content creators in particular buy many PCs and game consoles in order to create all types of game-related content that might be exclusive to certain platforms, which further boosts the sales of gaming devices.
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Gaming gadgets are specialized pieces of equipment that require advanced technologies and compatible hardware and software to function properly. Many players in the gaming gadgets market are trying to offer premium products and high-end hardware components for gaming as they provide the best experience and features while gaming. However, the integration of newer technologies in these gadgets also dramatically increases the price of the devices, which can hamper customers’ purchasing decisions. For example, a gaming laptop with a graphics card that supports ray-tracing technology costs more than a gaming laptop without ray-tracing. Likewise, consoles with higher storage capacities and faster storage units like SSDs cost significantly more. These high prices of gaming devices make it difficult for consumers to purchase these devices, which has a negative impact on the gaming gadgets industry. Additionally, the surge in demand from the gaming gadgets market, Corporate inclination towards cost-effective gadgets, strong growth in research and planning, and emerging technological infrastructure are expected to provide significant growth opportunities for the market in Asia Pacific.
Games and gaming devices are a very technological and tech-driven market. New game developments have converted small pixelated and square games into smooth and hyper realistic games. Many innovations are taking place in the gaming and gaming device industries, making them better every day. The integration of cloud gaming and cross-platform gaming into devices allowing gamers to leave a game on the console and continue from the same place on a PC and vice versa promotes the purchase of both types of gaming devices Additionally, innovations such as Valve, Inc.’s Steam Deck, which is a console-PC hybrid, are helping to bring gamers the experience of gaming on a PC in a handheld console form factor, which is attracting many. customers to this type of gaming devices.
The gaming gadget market is segmented into gadget type, end user, age group, distribution channel, and region. By gadget type, the gaming gadgets market is categorized into consoles and personal computers. Based on age group, the market is categorized into under 20, 21-35, and 35+. By end-user, the gaming gadget market is categorized into commercial and residential users. Based on the distribution channel, the market is segmented into specialty stores, multi-brand stores, small independent stores, online retailers, and others. Regionally, it is analyzed across North America (US, Canada and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe), Asia -Pacific (China, India, Japan, Australia, Singapore, New Zealand, South Korea and rest of Asia-Pacific) and LAMEA (Brazil, Argentina, South Africa, Saudi Arabia, United Arab Emirates and rest of LAMEA).
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Main results of the study
On the basis of gadget type, the console segment dominated by the global market is expected to remain dominant during the forecast period of the gaming gadgets market.
On the basis of end use, the residential segment offers many market opportunities for gaming gadgets and is likely to be the fastest growing segment during the forecast period.
Based on age group, under 20s is expected to be the fastest growing segment during the forecast period.
Based on distribution channel, online sales channel is expected to be the fastest growing segment during the forecast period.
Based on region, Asia-Pacific is the dominant region and is expected to remain dominant during the forecast period.
Main market players
Corsair
GIGA-BYTE Technology Co.,Ltd
HP Inc.
LENOVO
MICROSOFT
Micro-Star INT’L CO., LTD
nintendo
RAZER
Sega
SONY COMPANY
Dell Technologies Inc.
Acer Inc.
ASUSTeK Computers Inc.
Atari Inc.
valve company
The study will help readers-
1. Recognize complete market dynamics.
2. Inspect the competitive scenario as well as the future market landscape with the help of different restrictions such as Porter’s Five Forces and Parent/Peer Market.
3. Understand the impact of government regulations during the Covid-19 pandemic and assess the market throughout the global health crisis.
4. Consider the portfolios of major market players operating in the market coupled with the in-depth study of the products and services they offer.
Main offers-
1. The report authored by AMR on the Gaming Gadgets Market offers an in-depth study of the global market share, key growth determinants, country-level position, segmental assessment, market outlook and of the main trends.
2. Porter’s five forces model, on the other hand, cites the effectiveness of buyers and sellers, which is important in helping market participants implement successful schemes. In addition, the research study includes,
– Threat of new competitors
– Threat of new replacements
– Bargaining power of suppliers as well as consumers
– Rivalry between the main players
3. An explicit analysis of the driving and restraining factors of the Gaming Gadgets market is also provided in the report
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Allied Market Research, a market research and consulting firm of Allied Analytics LLP, provides market intelligence and market research reports to large, small and medium-sized businesses. The company helps its clients to develop business strategies and achieve sustainable growth in their respective market area.
Allied Market Research provides a one-stop solution, from data collection to investment advice. Allied Market Research analysts look for factors that help clients understand the importance and impact of market dynamics. The company applies client insights on factors such as strategies, future estimates, growth or fall forecasts, opportunity analysis, and consumer surveys, among others. As follows, the company provides consistent business intelligence support to help customers transform into a leading business enterprise.
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