A new study was recently published by ResearchAndMarkets. In this report, it was revealed that the global gaming accessories market was valued at $7.75 billion in 2020. Moreover, that number is expected to jump to $15.4 billion by 2026, registering a CAGR of 12.2% during this forecast period.
“During the COVID-19 pandemic, several gaming accessory manufacturers experienced shipping delays due to the lack of manufacturing components and raw materials, as most of the manufacturing plants are in China. Once the existing inventory was sold, the companies faced insufficient supply of the product,” the report reads. “However, the first quarter of 2020 sales were offset by strong revenue growth year-over-year due to an increase in demand for Corsair Gaming accessories as more people in more countries are under shelter-in-place restrictions. According to the company, shelter-in-place and other similar restrictions have resulted in increased demand for its products because such conditions limited people’s access to alternative forms of entertainment and social interaction. A similar trend is being witnessed by several companies operating in the market.”
China has been one of the market’s most dominant players. In fact, China has been the world’s largest, highest-grossing, and most profitable video game market since 2015. China is also one of the world leaders when it comes to esports tournament winnings.
(All information was provided by Union-Bulletin)
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