DUBLIN--(BUSINESS WIRE)--The "Gaming Controller Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product, Compatibility, Connectivity, Distribution, and End User" report has been added to ResearchAndMarkets.com's offering.
The global 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.
North America dominated the gaming controller market in 2019 with a share of 25.86%. The US, Canada, and Mexico are major economies contributing to the gaming controller market in North America. The video game controllers, such as consoles, are going through constant transition over the years. From blocky and basic nature of controllers to new and futuristic look of PlayStation 5's upcoming DualSense controller, the gaming controller is experiencing technological changes. With changing era of consoles, advent of cloud gaming is a sign of evolution in future games.
For instance, GameSir X2 supports various popular cloud gaming platforms such as Google's stadia, Microsoft's xCloud, and Vortex. Similarly, Razer, a global lifestyle brand for gamers has stated about availability of Razer Kishi Universal Gaming Controller for iPhone. The new controller exhibits feature of clickable analog thumbsticks, an 8-way D-pad, and range of face & multi-function buttons. Moreover, Nintendo of America is planning to sell single joy-con switch controllers in the region. Therefore, key steps by companies with respect to gaming controllers in projected to fuel the market growth during the forecast period.
Europe stood second in the gaming controller market with a decent market share in 2019, and it is anticipated to register the highest CAGR from 2020 to 2027. Europe comprises developed economies such as Germany, France, the UK, and Italy. Germany, the UK, France, Italy, and Spain are the prominent markets having high gaming revenues. Germany is a highly valuable video game market of the Western Europe, followed by the UK and France. With over 90% adoption of smartphones in the European region, more than 30% of the European population plays online games on their smartphones. In addition, there are around 2,000 gaming firms in the UK engaged in the business of developing games for escalating gaming market. The high penetration of smartphones in the region is projected to fuel the significance of controllers, such as gamepad, compatible for smartphones.
The gaming controller market players mainly perform several strategies to expand their business and maintain their brand name globally. For instance, in 2020, Scuf Gaming International, LLC, launched high-performance gaming controllers for Call of Duty League to bring fans new, official league controllers, featuring team colors and logos.
Reasons to Buy
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the gaming controller market, thereby allowing players to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to component, application and vertical.
Market Dynamics
Drivers
- Growing gaming industry
- Technological advancements in gaming accessories
Restraint
- Use of mobile phones as a console
Opportunity
- Adoption of smartphone gaming controllers
Future Trend
- Emergence of advanced gaming products
Companies Mentioned
- Bensussen Deutsch and Associates, LLC
- Guillemot Corporation S.A.
- HORI USA
- Logitech
- Mad Catz Global Limited
- Microsoft Corporation
- Nintendo
- Razer Inc.
- Sony Corporation
- Scuf Gaming International LLC
For more information about this report visit https://www.researchandmarkets.com/r/w9r9bk
