Massive Growth Expected For The Gaming Gadgets Market

On August 29th, Allied Market Research released a new report providing an analysis of the global gaming gadget market. According to the study, this industry, which generated $52.7 billion last year, will be worth almost $167 billion by 2031, registering a compound annual growth rate (CAGR) of 12.7% over the next nine years.

“Increase in interest in gaming and gaming devices, rapidly increasing number of e-sports orgs and content creators, and easier access to gaming devices drive the growth of the global gaming gadgets market,” the report reads. “Moreover, inclination of businesses toward cost-effective gadgets, strong growth in research & planning, and emerging technological infrastructure are expected to present new opportunities in the coming years.”

The 21- to 35-year-old age group held made up the lion’s share of the market in 2021, generating almost half of the market’s value. This age group is also expected to maintain its leadership in the market between now and 2031.

Additionally, the Asia-Pacific region contributed the most revenue to the market (over 40%) in 2021. Moreover, the APAC region will maintain its lead in the space, registering a CAGR of 13.2% during the aforementioned forecast period.

(All information was provided by Yahoo! Finance)

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