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Gaming Hardware Market Expected to Reach 260.5 Million Units by 2026: Transparency Market Research
The gaming hardware market has expanded to a large extent since the time of its introduction. There are a variety of platforms and modes of gameplay. Gaming hardware provides a platform for users to play different types of games, where games can be played on personal computers, different consoles attached to a television, mobile phones, or on handheld gaming devices such as Nintendo DS systems or PSP devices. These devices significantly enable the user to experience realistic representation of players and environments during gameplay. Some of the key factors driving growth of gaming hardware is technological developments in the gaming industry. Innovative technologies such asinteractive glasses, 4k content, and 3D audio quality are enhancing the experience of end-users and also driving constant innovation in the gaming hardware world. Over the coming years, these factors are expected to provide substantial traction to the global gaming hardware market. The gaming hardware market is anticipated to reach 260.5 million units, in terms of volume by 2026, expanding at a CAGR of 6.6%.
With increasing disposable income in developing countries, buyers would prefer to buy advanced gaming systems. Apart from the existing customer base, an increase in number of buyers of gaming devices is expected in future. This is attributed to the large size of the population with rising purchasing power, especially in India and China. Both the emerging economies are witnessing an exponential rise in the middle class population.
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The gaming hardware market has been segmented based on product type, end-use, and geography. Based on product type, the market has been classified into Consoles (Standard Consoles and Handheld), and Accessories (Controller, Headsets, and Camera). In terms of end-use, the market has been segmented into residential and commercial.
Based on geography, Europe is expected to be an attractive region of the gaming hardwaremarket,owing to the faster adoption of gaming systems in the residential and commercial sector.Innovation in the gaming hardware market and rise in the number of manufacturers of gaming hardwareare projected to drive the marketin Asia Pacific in the coming years. The gaming hardware market in South America and Middle East & Africa is expected to expand at a robust pace in the near future.
The gaming hardware market consists of established and emerging players. Market players focus on introducing advanced gaming systems in the market. Product innovation, technological advancements, and acquisitions are the key competitive strategies adopted by players in the gaming hardware market. Key companies profiled in the research report in terms of consoles and accessories developers include Microsoft Corporation, Nintendo Co Ltd., NVIDIA Corporation, Sony Corporation, Logitech International S.A, Venom UK Ltd, Madcatz, A4TECH, Scuf Gaming International LLC., V-MODA, LLC, Razer Inc,. and Turtle Beach.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s
experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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