Publication Month: Feb 2021 | Report Code: TIPRE00016973 | No. of Pages: 203 | Category: Electronics and Semiconductor | Status: Published
In the current scenario, gaming is one of the crucial and innovative industries considered in tech. The continuously growing gaming industry is bolstering the demand for more consoles. From the era of dawn of arcades to upsurge in home consoles; gaming industry has witnessed drastic evolution. With the development of advanced wired and wireless gaming controllers and other accessories in the gaming controllers market, the scope of gaming controller is also increasing. Rising penetration of smartphone gaming controllers in the market, introduction of new consoles such as Playstation 5, and combination of virtual reality with controllers are among the other factors stimulating the use of gaming controller, and thereby driving the market growth.
Microsoft’s Xbox, Nintendo, and Sony’s Playstation are successfully attracting attention of gamers towards their advanced consoles. Moreover, PC gaming has unlocked opportunities for gamers seeking for additional dexterity and ease-of-use during playing games. In addition, the console developers—such as Sony Microsoft—are introducing cloud-based subscription services although they keep on creating and rolling-out new consoles.
The COVID-19 pandemic has resulted into rise in the TV viewing and adoption of video games among the population. Internet gaming industry has seen rapid increase in the number of players during the pandemic as a common activity to fight physical distance for society with the regional population at home and unable to function, a strategy advocated by the World Health Organization that has helped raise profits for many companies in the gaming industry. Moreover, the pandemic has influenced the huge population of developing countries—such as India and China—to adopt OTT platforms for fresh entertainment and on-demand videos and online gaming for refreshments. For instance, during the first quarter, Asian gaming giants Nintendo and Tencent both witnessed increases in revenue.
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The gaming industry is one of the biggest industries and is valued for ~US$140 billion. With growing gaming industry, the gaming accessories such as wearable interface controllers, custom-made balance boards, game streaming, and pro controllers are getting advanced. For instance, wearable interface controllers are developed to transmute gamer’s body movements into the action on TV screen. Controller grip is a concave or convex add-on in gaming controller’s button, which improves dexterity, accuracy, and comfort during long hours of play. Increasing demand for these gaming accessories is encouraging manufacturers to develop accessories with glow-in-the-dark features to attract customers by providing aesthetic looks. Thus, evolvement in gaming accessories is fueling the scope of the gaming industry, thereby driving the market growth.
Based on product, the gaming controller market is segmented into gamepad, joystick, trackball, throttle quadrant, and light gun. The gamepad segment dominates the market. The recent advancements in the manufacturing of gamepads, such as integration of haptic feedback, are boosting the market growth for gamepad segment. These advancements allow users to feel the actions of the game through vibration of the controller, thereby, offering a better gaming experience.
Based on compatibility, the gaming controller market is bifurcated into PC & mobiles and console. The PC & mobile segment dominates the market owing to the growing importance of cloud computing technologies. Also, internet connections are becoming more stable and quicker. Therefore, users would be able to play games on PCs in the near future, which is anticipated to drive the market growth for this segment during the forecast period.
Based on connectivity, the gaming controller market is bifurcated into wireless and wired. The wired segment dominates the market as they are generally preferred by casual gamers who play alone in their own connected systems. However, the low price of wired controllers as compared to Bluetooth wireless controllers is also fuelling the market growth for wired segment.
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Based on distribution, the gaming controller market is bifurcated into online and offline. The offline segment holds a significant share in the market. The offline outlets generally showcase gaming controllers of different brand together, giving a wide range of options to the consumers. It also enables consumers to see the product before actually paying for the same.
Based on end user, the gaming controller market is bifurcated into personal and commercial. The personal segment continues to hold a significant share in the market owing to rise in personal users of gaming controllers, including professional and casual gamers. The rising number of gamers across the globe coupled with their adoption of gaming consoles and controllers is fuelling the growth of the gaming controller market for this segment.
The players operating in the gaming controller market focus on strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
In 2020, Scuf Gaming International, LLC, launched high-performance gaming controllers for Call of Duty League to bring fans new, official league controllers, featuring team colors and logos.
In 2020, Guillemot Corporation S.A. launched an advanced Thrustmaster pedal set to date, with a load cell offering more realism and precision.
In 2020, HORI USA launched the product for easy travelling and protecting systems with lightweight yet sturdy vault case in an animal crossing theme.
The List of Companies - Gaming Controller Market
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