The sector of peripherals and accessories for video games continues to grow at a rapid pace, surpassing $10 billion in revenue in 2023. According to a new study from Omdia, this positive trend will continue in the coming years, with annual growth of 2.9% expected through 2029.
Gamepads, or controllers for consoles and PCs, are the largest product category, with a 44.3% market share in 2023. This dominant position is expected to continue in the coming years, thanks to the popularity of consoles and the increasingly widespread use of gamepads among PC gamers.
The “Other” category, which includes high-end peripherals and accessories such as gaming chairs and steering wheels, is expected to see the strongest growth between 2024 and 2029. The Chinese market is also emerging as a major growth driver, with revenue expected to exceed $2 billion by the end of 2024.
Despite global economic difficulties and consumer resistance to video game price increases, the gaming peripherals market seems immune to the crisis. Premium products, such as PlayStation’s DualSense controller, continue to sell well despite their high price. In addition, the growing popularity of gamepads among PC gamers, as evidenced by Steam, is helping to support the sector’s growth.
The video game peripherals and accessories market seems to be a healthy sector, with positive growth prospects for the coming years. Gamepads continue to dominate the market, but premium accessories and the Chinese market represent important development opportunities. The resilience of this sector to economic difficulties demonstrates the passion of gamers for the gaming experience and their willingness to invest in products that improve performance and comfort.
What do you think? Are you one of those who are willing to spend for higher quality products or are you happy with average peripherals? Let us know in the comments below.
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