According to a new report from ResearchAndMarkets.com, the global gaming peripheral market is expected to grow by $5.6 billion from 2023 to 2027. As a result, the industry will experience a compound annual growth rate (CAGR) of 9.41% during this forecast period.
One of the report’s researchers claimed that multiplayer video games are gaining a lot of momentum in the gaming space. Additionally, the increased popularity of esports will drive the market’s growth.
“The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment,” the report reads. “The market is driven by the rising popularity of e-sports, the increasing availability of advanced gaming consoles, and the emergence of ultra-high definition (HD) TVs and PCs.”
The growth expected for this sector will be huge. Since the global gaming peripheral market was valued at $4.3 billion in 2021, that means the industry will more than double in value by 2027.