United States Gaming Accessories Market - Growth, Trends, COVID -19 Impact, and Forecasts (2022 - 2027)

The United States Gaming Accessories Market is expected to register a CAGR of approximately 9.3% during the forecast period (2022-2027). Continuous technological advancements in the gaming industry are driving the expansion of gaming accessories.

Key Highlights

• The rising internet connectivity, increasing adoption of smartphones, and the introduction of high bandwidth network connectivity, like 5G, have further boosted the demand for gaming accessories in the country. Major gaming console manufacturers like Nintendo and Microsoft have realized the potentiality of AR and are leading the charge.
• Game developers across the country continually strive to enhance the gaming experience by launching and rewriting codes for diverse console/platforms, such as PlayStation, Xbox, and Windows PC, incorporated into a standalone product provided to gamers through a cloud platform.
• The rapid growth of e-sports games has increased demand for new gaming keyboards and gamepads. Hence, as gaming content improves, the gaming accessories market will likely expand throughout the forecast period.
• A challenging factor is the availability of a wide range of elements in the market. Several solutions might meet the need for gaming accessories. Particularly, local alternatives might have an impact on market demand as the majority of customers favor low-cost gaming equipment.
• The key vendors in the gaming accessories market are introducing new products with advanced technology. For instance, in June 2021, Atari Inc., an American video game developer and the home computer company, launched the Atari VCS home video game console in the United States.
• Due to the Covid-19 lockdown, people stayed home, and some turned to the gaming platform to spend their time. These platforms attracted more new visitors in online traffic and created demand for various gaming accessories. Moreover, the surge in gaming amid Covid lockdowns follows a roster of new game releases.

Key Market Trends

Growing Adoption of Smartphones Caters to the Market Growth

• Mobile gaming has recently exceeded console and PC gaming as the most popular type of gaming around the globe. The availability of mobile gaming is one of numerous elements driving its growth; practically everyone owns a smartphone with games installed on it. Furthermore, the growing demand for mobile games is driven by technological advancements and enhancements such as AR, VR, cloud gaming, and 5G.
• Most smartphones are coming with VR-enabled technology, due to which individuals are gaining better experience through a smartphone without gaming consoles. Top gaming industry vendors are introducing games with AR and VR-enabled features. Hence such advanced games are creating demand for gaming accessories.
• According to an Industry experts survey, majorities of all age groups and gaming frequencies said they use their cellphones to play video games, including at least 7 in 10 avid gamers, casual gamers (those who play video games six hours or less a week) and gamers under 45.
• Further, in August 2020, Microsoft launched mobile accessories designed to work with Xbox Cloud Gaming. Furthermore, companies like Razer, PowerA, and 8bitdo launched controllers designed expressly for xCloud streaming.
• Also, the surge in demand for e-sports is leading the gaming accessories market, especially for the gamepad, gaming keyboards, joysticks, and others.

Growing Adoption of Video Game is Expected to Cater to Growth

• The increased adoption of gaming apps on mobile devices and televisions has driven the demand for gaming accessories in the country. Moreover, many consumers want to be able to play the latest games without requiring a new PC or a console. This has aided the development of newer formats as well.
• According to a study by the ESA, in 2021, more than 227 million players in the United States will play video games. In total, 80% of the players are over 18 years old. Furthermore, 76% of American kids under 18 years are players. In addition, 74% of American households have at least one video game player.
• Some key vendors, like Microsoft, which generate the largest revenue share in the United States, are focusing on leveraging the growing video game consumption in the country by launching new products. In November 2020, Microsoft launched the Xbox Series X and the Xbox Series S with a series of live and virtual global activations.

Competitive Landscape

The gaming accessories market in the United States is competitive owing to a few worldwide suppliers with a significant market share. The vendors are enhancing their product portfolio with new technologies to remain competitive.

• May 2022 - Leading gaming audio and accessory provider Turtle Beach Corporation announced its best-selling Turtle Beach console gaming accessories, and award-winning ROCCAT PC gaming accessories brands have partnered with New Orleans Saints’ starting Safety, Chauncey Gardner-Johnson. Gardner-Johnson joins other pro-athlete gamers, including NBA stars Grayson Allen, Immanuel Quickley, and Josh Hart, who have teamed up with Turtle Beach and ROCCAT for all their gaming equipment needs can dominate on the digital battlefield.
• January 2022 - Logitech G, a brand of Logitech and one of the prominent innovators of gaming technologies and gear, announced the launch of the Logitech G413 SE Mechanical Gaming Keyboard and the G413 TKL (Tenkeyless) SE Mechanical Gaming Keyboard. This keyboard is engineered for precision and performance that offers gaming-grade mechanical switches with extremely durable PBT keycaps that are worn, fade and shine resistant.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

This product will be delivered within 2 business days.