The global gaming hardware market is expected to witness increasing sales of consoles and peripherals during the forecast period. Fortune Business Insights in a report, titled “Gaming Hardware Market Size, Share and Global Trend by Product Type (Consoles & Accessories), By End User (Commercial & Residential) and Geography Forecast till 2027” predicts that the wide range of gaming hardware can enhance the user’s gaming experience. Moreover, mechanical keyboards, high-end joypads, dedicated monitors, and pro headsets are some of the gaming hardware tools available in the market.
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Demand for Gaming Hardware Increases Among Residential Users
As per end-users, the residential sector is anticipated to grow during the forecast period. Residential end-users are likely to invest in gaming hardware more than commercial end-users. Demand for virtual reality headsets, consoles among others is expected to remain strong in this sector. Rising gaming penetration primarily backed by interest is driving the residential end-user segment in the market.
Top Players List:
- SEGA Europe
- Venom IT
- Oculus VR
Major Segments Mentioned:
- By Component
- By Deployment
- By Industry Vertical
- By Geography
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On the contrary, the high cost associated with upgraded technology is a factor that may restrain the global Digital Rights Management market.
Rising Number of Enthusiast Gamers Augments Demand for Gaming Hardware
“The rising number of hardcore and enthusiast gamers across the world is likely to fuel demand for gaming hardware in the coming years,” said a lead analyst at Fortune Business Insights. “Growing consumer need for laptops, PCs, smartphones, and tablets is further expected to influence the purchase of gaming hardware,” she added. Continuous innovations in gaming technology is likely to transform the gaming hardware industry by 2027. These technologies include interactive graphics, 3D effects among others are likely to offer a better experience to its users.
With the emergence of e-commerce, e-sports is gaining popularity across some major regions. Several high-tech games are urging gamers to opt for advanced peripherals and consoles to gain a better gaming experience. Introduction of the internet of things (IoT) in the gaming world and its adoption in gaming devices is likely to offer growth for the market in the forecast years.
Contrary to this, mounting costs associated with gaming hardware may restrict the growth of the gaming hardware market.
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An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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