What's Happening?
Research firm Omdia has forecasted that the global market for gaming peripherals and accessories will exceed $20 billion in 2025, with projections reaching $25 billion by 2030. This growth is driven by strong demand for gaming monitors, which are expected to contribute nearly half of the revenue in 2025. Other categories, including gamepads, headsets, keyboards, and mice, are also anticipated to see significant increases. Despite stagnant growth in game sales, the peripherals market has thrived, with a 44.3% revenue increase from 2020 to 2024. Omdia's Research Director, Dom Tait, attributes this success to the industry's ability to justify higher price points for premium products, enhancing the gaming experience.
Why It's Important?
The burgeoning market for gaming peripherals highlights a shift in consumer spending within the gaming industry. As game pricing struggles to keep pace with inflation, peripherals offer a lucrative alternative for manufacturers. This trend underscores the importance of hardware in delivering enhanced gaming experiences, potentially influencing future product development and marketing strategies. For companies like Sony, Microsoft, and Nintendo, the demand for high-quality peripherals presents opportunities for innovation and revenue growth. Additionally, the focus on peripherals may drive advancements in technology, such as higher resolution monitors and faster refresh rates, benefiting both consumers and manufacturers.
What's Next?
As the market for gaming peripherals continues to expand, manufacturers are likely to invest in research and development to capitalize on emerging trends. The demand for advanced gaming monitors and accessories could lead to new product launches and technological innovations. Companies may also explore strategic partnerships to enhance their offerings and reach broader audiences. The success of this market could prompt further investment in gaming hardware, potentially influencing the overall direction of the gaming industry.
