Gaming Controller Market
Gaming Controller Market (Product Type: Gamepad, Paddle, Joystick, Trackball, Throttle Quadrant, Steering Wheel, Yoke, Light Gun, and Others; Compatibility: PC, Console, and Mobile; Connectivity: Wireless and Wired; Price Range: Low, Medium, and High; End User: Personal and Commercial; and Distribution Channel: Online and Offline) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030
Press Release :
Hygiene Practices Contain Spread of Coronavirus via Gaming Controller Products
Right from packaging to the assembly of gaming controllers, its parts are collected from various regions of the world. Hence, gaming console manufacturers are under scrutiny for spreading coronavirus (COVID-19) amongst individuals. Thus, companies in the gaming controller market are taking every precaution to ensure best hygiene practices during production and distribution of products. Since people have become habitual of the stay-at-home environment, the revenue of the gaming controller market is estimated to surge in the upcoming months.
Tech giants in the gaming industry such as Sony and Microsoft are eyeing the holiday season from October to December 2020 for product releases. However, the high prevalence of active COVID-19 cases in the U.S., Europe, India, and other countries has compelled customers to focus their expenditures on essential goods and services.
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Custom-made Balance Boards Gain Popularity as Hands-free Gaming Controllers
The gaming controller market is projected to advance at a favorable CAGR of ~7% during the assessment period. However, constantly evolving consumer trends are emerging as a challenge for manufacturers. Hence, companies in the gaming controller market are innovating in hands-free gaming controllers to address issues faced by users. They are increasing focus to produce custom-built balance boards and digital flooring solutions to introduce novelty in the market landscape. Such hands-free gaming solutions are acquiring popularity on cruise ships and entertainment zones in malls.
Custom-made balance boards are being highly publicized for keeping guests physically active by using their body as the key interaction element. However, manufacturers need to bear in mind other issues such as unpredictable sunlight conditions, height, and weight range of individuals to build custom-made balance boards.
Ergonomics Versus Price: What Will Lead to Increased Product Uptake?
Online news outlets have become the go-to destination for manufacturers in the gaming controller market to promote their products. The Scuf Prestige is no exception, and is gaining popularity for its matte black finish and grippy underside. Thus, manufacturers in the gaming controller market are investing in R&D to improve the ergonomics of products. Moreover, price and feature comparison between different ranges of products helps individuals make an informed decision.
Manufacturers are increasing their production capabilities in devices that are majorly compatible with PCs and Xbox. Custom-design gaming controllers are being preferred for PlayStation. Companies are increasing efforts to extend the battery life of controllers in order to gain a competitive edge in the market landscape. However, expensive price of such controllers has become a key deciding factor for customers.
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Diversifying Production Activities Allow Manufacturers to Capitalize on Changing Consumer Trends
The trend of voice-controlled gaming is emerging as a threat to the sales of controllers. Hence, gaming companies need to diversify their supply chains in voice-controlled as well as non-voice controlled solutions depending on the spending capacity of individuals. Moreover, voice-controlled gaming is still in its nascent stage and will take few more years to be commercialized as a mainstream trend.
The Intel’s RealSense gesture control technology is posing a stiff competition for manufacturers in the gaming controller market. Hence, manufacturers need to diversify their production and supply chains in both gaming controller and gesture control technology solutions to capitalize on incremental opportunities. Since gamers are always on the pry for novelty, companies in the gaming controller market should constantly innovate in their product offerings.
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The market for gaming controllers is anticipated to gain momentum, as the WHO (World Health Organization) recommends gaming to practice social distancing amidst the COVID-19 outbreak. Hands-free gaming controllers are gaining popularity in the market landscape. The market for gaming controllers is expected to surpass a revenue of US$ 55.7 Bn by the end of 2030. However, competition in the gaming controller market is fierce, since some manufacturers offer better ergonomics, while others offer better price or battery life. Hence, companies should constantly invest in R&D to stay ahead in the competition and adopt agile production activities to meet changing consumer demands.
Gaming Controller Market: Overview
- According to Transparency Market Research’s latest research report on the global gaming controller market for the historical period 2018–2019 and the forecast period 2020–2030, rising demand from the automotive industry is expected to boost the global gaming controller market during the forecast period
- In terms of revenue, the global gaming controller market is estimated to exceed value of US$ 55.7 Bn by 2030, expanding at a CAGR of ~7% during the forecast period
Usage of Gaming Controllers in Various End-use Sectors: A Key Driver
- E-sports and online competitive gaming are encouraging many consumers to purchase gaming controllers. E-sport games such as FIFA 19, Street Fighter V, Super Smash Bros, and others are highly popular around the world, which influences video gamers to play competitively. Moreover, online media platforms including Twitch and YouTube have become promotional platforms for e-sports competitions, which increase awareness among audience and drive the usage of gaming controllers.
- Rapid expansion of the gaming sector all over the world is boosting the usage of gaming controllers among people. Several companies have launched highly defined controllers, which gain attention of gamers and help in driving demand for innovative gaming consoles. Increasing demand for gaming consoles based on advanced wireless technologies such as Wi-Fi and Bluetooth 5.0 is anticipated to drive the growth of the gaming controller market across the globe. Gamers are eliminating the use of wired accessories and adopting advance consoles to enhance the overall gaming experience. Additionally, popularity of 3D gaming among gamers is propelling the growth of the gaming controller market.
- High cost is one of the factors that may hinder the growth of the gaming controller market around the world. This leads to increasing adoption of counterfeit gaming consoles among gamers due to its rising availability in the market. Lack of awareness among consumers regarding gaming controller brands and quality of the products can be a major restraint for the growth of the gaming controller market, as people opt for products with the same offerings, which are available at low prices.
Increasing Demand from Asia Pacific
- Asia Pacific accounted for a major share of the gaming controller market in 2019. Increasing demand for entertainment products coupled with easy government rules and regulations pertaining to manufacturing units is a major factor boosting the market growth.
- Western Europe is the second largest gaming controller market as a result of significant consumer adoption rate. High consumer demand for premium gaming controllers is also observed in developing countries.
Gaming Controller Market: Competition Landscape
- Detailed profiles of providers of gaming controllers have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global gaming controller market are
- Microsoft, Sony Corporation,
- Mad Catz Global Limited,
- Razer Inc.,
- Bensussen Deutsch & Associates, LLC.
- Performance Designed Products LLC
- HORI USA
Gaming Controller Market: Key Developments
- Key providers of gaming controllers such as Microsoft, Sony Corporation, Nintendo, Logitech, and Razer Inc. are focusing on product development to attract more customers. Some other key developments in the global gaming controller market are highlighted below:
- Microsoft has established a good market position in Xbox One console. Now the company is focusing on connecting its gaming assets over PC, console, and mobile. It is planning to expand and engage the Xbox Live member network frequently with services such as Mixer and Xbox Game Pass.
- In August 2020, Mad Catz announced two new console products, the EGO Arcade FightStick and the C.A.T. 7 Controller, which have attractive designs, multi-format compatibility, and a high-specification feature set. The company’s objective behind this product innovation is to improve its competitive position in the market.
- On April 8 2020, Sony announced the new DualSense controller with the vision of future gaming. It has extensive features such as adaptive triggers that can adjust resistance with sleek angular design and integrated microphone. New hardware features are exclusive to the PS5 with faster SSD. This new defined product is gaining consumer attention, specifically gamers, who always seek to adapt new upgraded gaming consoles.
- On March 16 2020, Microsoft introduced the next generation controller, "Xbox Series X," which is redesigned with features such as better cross-device connectivity, improved ergonomics, reduced latency, and easier sharing
- In 2019, Razer Inc. launched a gaming controller and wireless ear buds to enhance its gaming portfolio. The Razer Kishi, a universal mobile/cloud gaming controller for iOS & Android phones is highly popular among gamers. Moreover, Razer was crowned Best of CES (an annual trade show organized by the Consumer Technology Association) for the eighth year and received two awards for the Razer Kishi Universal Mobile Gaming Controller.
Gaming Controller Market – Scope of the Report
A new study on the global gaming controller market has been published by Transparency Market Research (TMR). It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global gaming controller market across the globe. TMR’s study offers valuable information about the global gaming controller market to illustrate how the market would grow during the forecast period, 2020–2030.
Key indicators of market growth, which include value chain as well as supply chain analyses, and Compound Annual Growth Rate (CAGR), are elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret quantitative growth aspects of the global gaming controller market during the forecast period.
An extensive analysis on business strategies of leading market players is also featured in TMR’s study on the global gaming controller market. This can help readers understand principal factors to foresee growth in the global gaming controller market. In this study, readers can also find specific data on the qualitative and quantitative growth avenues for the global gaming controller market, which is expected to guide market players in making apt decisions in the future.
Key Questions Answered in TMR’s Gaming Controller Market Study
- What are the key factors influencing the gaming controller market in each region?
- What will be the CAGR of the global gaming controller market between 2018 and 2030?
- What is the future scope and current trends in technologies of the global gaming controller market?
- What is the revenue of the global gaming controller market based on segments?
- Which key strategies are used by top players in the global gaming controller market?
- Which are the leading companies in the global gaming controller market?
Research Methodology – Gaming Controller Market
A unique research methodology has been utilized by TMR to conduct a comprehensive research on the growth of the global gaming controller market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the production of the global gaming controller market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the gaming controller market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from gaming controller industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global gaming controller market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on the future prospects of the global gaming controller market more reliable and accurate.
Gaming Controller Market – Segmentation
TMR’s study on the global gaming controller market includes information categorized into seven sections ? product type, compatibility, connectivity, price range, end user, distribution channel, and region. Changing industry trends and other crucial market dynamics associated with these sections of the gaming controller market are discussed in detail.