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%.
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Demand for gaming hardware from residential end-users is expected to rise during the forecast period. The residential end-user is a significant revenue contributor to the gaming hardware market. Demand for handheld consoles from residential end-users has increased, and this trend is expected to continue during the forecast period. The adoption of virtual reality headsets in the commercial sector has undergone a significant rise in the past few years; this is due to introduction of gamification in the industries to improve user engagement, organizational productivity, flow, learning, and physical training. Moreover, growing demand for mobile apps is further anticipated to bolster the market growth.Demand for consoles is expected to be high in Japan and the U.S. during the forecast period. From the economic point, declining prices of global positioning system (GPS) sensors required for gaming hardware is another factor responsible for the growth of the market. Image sensors and GPS sensors are important components of the headsets due to the need for mobility in gaming. Thus, drop in price of sensors is anticipated to drive the gaming hardware market in the near future.