Development of retail and web-based business ventures, expansion in fame of person-to-person communication locales and cell phones, along with multiplication of broadband web network are positively influencing demand for gaming controllers.
The coordinated retail industry, particularly in non-industrial nations in Asia, is probably going to help the market sooner rather than later. Social media sites, for example, Facebook, are advancing web-based games with the goal that they can reach more number of gamers.
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Moreover, increment in prevalence of E-sport class games and ascend in the quantity of web and social game players are fuelling the sales of gaming controllers. Steady improvements in innovation is a significant pattern in the market. Also, producers are zeroing in on multi-utilitarian gaming controllers, which are expected to expand the interest of gamers for these controllers.
As per a new report published by Fact.MR, the gaming controller market is anticipated to surpass US$ 22 Bn in 2024, and is poised to expand at a CAGR of around 7% over the next ten years.
Key Takeaways from Market Study
- The gaming controller market is anticipated to add 2.5X value by 2031.
- Hands-free and wireless gaming controllers capture a major chunk, equivalent to three-fourth of the global market share, and are set to create an absolute $ opportunity of around US$ 700 Mn over 2024-2031.
- The market in Germany, China, and the U.S. is expected to rise at around 7% CAGR each through 2031.
- Due to the COVID-19 crisis, demand for hands-free gaming controllers has shown a steep rise in the 3rd and 4th quarters of 2024-2021.
- With the havoc of COVID-19, entertainment at home is by all accounts the choice for gamers during lockdowns.
- Further, arrival of 5G and limitless data packs are expected to be key components towards the accomplishment of cloud gaming across the globe, as most gamers today are usually preferring playing games on cell phones.
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“Expanding administrations and interest in 5G foundation are additionally vital towards surging the market for gaming controllers,” says a Fact.MR analyst.
Prominent Players
The global gaming controller market is a fairly consolidated space, with prominent players majorly concentrated in the Asia Pacific region. Prominent companies operating in this space include Microsoft, Nintendo, Sony Corporation, Mad Catz Global Limited, Razer Inc., Logitech, Bensussen Deutsch & Associates, LLC., Thrustmaster, Performance Designed Products LLC, HORI USA, Speedlink, and Sabrent.
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