Analyzing The Expected Growth Of The Global Gaming Gadget Market

On December 6th, added a new report to its offering providing an analysis of the global gaming gadget market from 2021 to 2031. According to this research, the gaming gadget market will be worth $166.9 billion by 2031. Since the market was valued at $52.6 billion last year, that means the sector will register a compound annual growth rate (CAGR) of 12.7% over the next nine years.

“Technological advancements are boosting the market growth,” the report reads. “For instance, as of March 2021, the latest home video game console devices on the market are Microsoft’s Xbox Series X/S and Sony’s PlayStation 5 (PS5), both of which were introduced in November 2020. Each has a keen edition for downloading online games, as well as an edition with a traditional disk drive. This reflects the changes in lifestyles accompanying such factors as the improved speed of home internet connections.”

The report showed that the console gaming segment lead the market in 2021. Furthermore, this segment is expected to “remain dominant” between 2022 and 2031.

The under-20 age group is expected to be the fastest-growing segment during the aforementioned forecast period. Meanwhile, the APAC region is expected to hold the largest market share over the next nine years.

(All information was provided by Business Wire and

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