April 4, 2020

Gaming Hardware Market | Key Players are Apple Inc, Activision Blizzard, Google, Sony Corporation and Linden Research among others

According to a new market research report published by Credence Research, the gaming hardware market is set to grow by 15.7% over the forecast period, starting from US$ 135.25 billion in 2018.

Gaming hardware is driven by rapid technological advancements in the gaming domain. Over the last decade, gaming consoles have evolved significantly from cassette base games to advanced digital video games with wearable technology. The integration of advanced technologies such as augmented reality, virtual reality, gesture control, voice control in gaming consoles is attracting new customers. In addition, GPUs and TV screens are also becoming smarter and more sophisticated in coping with changes in gaming hardware. In addition, due to increasing competition, market players are also launching new iterations of their gaming consoles to meet the growing demand of consumers. This also accelerates the adoption of gaming hardware among consumers.

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The increasing disposable income of the population and the willingness to pay more for new gaming consoles also act as a major driver for the growth of the market. As the middle class of emerging countries such as India and China is growing, the population’s spending capacity is also increasing. This enables the population to spend on entertainment and leisure. Therefore, buyers are now more willing to pay for advanced gaming technologies. The advent of subscription-based gaming services, however, is acting as a major inhibitor of the growth of the gaming hardware market.

The gaming hardware market is bifurcated by application to PCs, TVs and handheld devices. The PC segment accounted for more than 55% of the market share of gaming hardware in 2018. The growth of the market is due to the large-scale adoption of PC gaming across the globe. In addition, the high computation requirement for high definition games also promotes market growth. On the other hand, the TV segment is estimated to grow significantly during the forecast period. The market is driven by the growing adoption of smart televisions for gaming consoles.

The North American gaming console market is expected to grow substantially during the forecast period. The growth of the market is attributed to the large number of gaming populations in the region. The high disposable income of the population of the region is also one of the primary factors driving demand for the home console market. Europe also contributes significantly to the growth of the market.

The prominent players of the gaming hardware market are Apple Inc, Activision Blizzard Inc, Google Inc, Sony Corporation, Linden Research Inc, HTC Corporation, Microsoft Corporation, NVIDIA Corporation, Nintendo, Logitech International, Sega Games Co Ltd, Oculus VR LLC, and Venom UK Ltd.

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