Gaming Hardware Market Sees Impressive Growth Driven by Persistent Technological Advancements in the Gaming World
Pune, India -- (SBWIRE) -- 06/13/2019 -- 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 2025" 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, 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-users segment in the market.
Nvidia's Expansion in India Encourages Market to Grow in Asia Pacific
The market in Asia Pacific is expected to lead the global market throughput the forecast year. Countries such as China, Japan, and India are anticipated to grow in terms of size in the global gaming hardware market. Spurred by this, Nvidia is planning to add hundred new gaming cafes in India. Besides Asia Pacific, Europe is expected to register considerable growth in the global market by 2025. High adoption of gaming systems in commercial and residential sectors is likely to enable growth in the market in Europe. This, coupled with rising disposable income, is encouraging the market to grow in this region. Countries such as France, UK, and Germany are projected to dominate the market during the forecast period.
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Presence of well-established gaming industries in North America is anticipated to help the market rise at a substantial rate. Large number of gaming console users is another factor driving the market in North America.
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 2025. 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 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.
Companies Focus on Developments to Expand their Business
The report profiles some of the leading players operating in the global gaming hardware market. These companies include Nintendo Co Ltd., Microsoft Corporation, NVIDIA Corporation, Logitech International S.A, Linden Research, Venom UK Ltd, Oculus VR, Sony Corporation, and Playstation. Companies are planning to focus on developments to offer the best gaming hardware solutions and expend their business. Some of the developments are:
- Apple acquired SensoMotoric Instruments, eye tracking pioneers in June 2017. The acquisition was made to offer a better gaming experience to users.
- Microsoft acquired Donya Labs in January 2017. Microsoft's aim is to use Simplygon software developed by Donya Labs to strengthen its position in the 3D creation world.
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