According to research by Technavio, the gaming peripheral market is expected to grow by $3.36 billion by 2025. The market’s growth momentum will accelerate at a CAGR (Compound Annual Growth Rate) of 6.88%.
“The market is fragmented, and the degree of fragmentation will accelerate during the forecast period,” the report says. “Corsair Components Inc., GN Store Nord AS, Kingston Technology Co. Inc., Logitech International SA, Microsoft Corp., Razer Inc., Sennheiser electronic GmbH and Co. KG, Sony Corp., SteelSeries ApS, and Turtle Beach Corp. are some of the major market participants. The rising popularity of e-sports will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.”
According to Britannica, a peripheral is a device used to enter information and instructions into a computer for storage or processing purposes. These kinds of devices can be gaming keyboards, a specialized gaming mouse, backlit LED lights, etc.
The Profit‘s Take:
No surprise that the gaming peripheral market is exploding. We continue to see more examples of this. Peripherals will grow in lockstep with the broader gaming market. Most of the names in this article will very likely all be market winners in the long run. Like traditional sports, gamers will pay for things that either make them perform better or look better.