Research and Markets recently released a report forecasting the growth of the North American gaming controller market. The research indicates the North American market will increase in value from $430.1 million in 2019 to $645.8 million by 2027, registering a CAGR of 5.7%.
“Advancement in gaming accessories boosts the growth of the market. The gaming industry in North America is one of the biggest industries. With this growing industry, the gaming accessories such as wearable interface controllers, custom-made balance boards, game streaming, and pro controllers are getting advanced,” the study reads. “Companies are pushing toward free-to-play models, while in games played over the cloud, tech giants are making progress. This has influenced the rise in demand for gaming controllers such as gamepads, joysticks, and racing wheels amongst others. However, the demand for the same couldn’t be catered by the country due to the temporary shutdown of transportation facilities across the region.”
The report says that COVID-19-related stay-at-home orders influenced Americans to play video games. The number of gamers in the US increased by 46% during the pandemic. Additionally, Verizon reported a 75% increase in the use of video games in March.
(All information was provided by Business Wire)