Transparency Market Research delivers key insights on the global gaming controller market. In terms of revenue, the global gaming controller market is estimated to expand at a CAGR of ~7% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global gaming controller market.
Increasing awareness regarding advanced gaming controllers in the market and availability of high-speed Internet connections are some of the factors boosting the growth of online gaming globally, thus increasing the demand for gaming consoles. Rising availability of fast internet connection leads to increasing popularity of online gaming, which helps to increase the demand for controllers among gamers. Online gaming is a form of entertainment, which can help to develop creativity, nurturing relationships with friends, and in strategic planning. Hence, online gaming is boosting the demand for gaming controllers among gamers. E-sports and gaming tournaments are becoming popular among gamers across the world that leads to increased demand for advanced gaming consoles. Gamers are heavily spending on gaming controllers, which have unique features, advance technology, and easy to handle for better gaming experience.
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Gaming Controller Market: Dynamics
Innovations in gaming and its peripheral products are driving the gaming controller market. Companies are offering innovative products, including new generation consoles to improve their market growth. For instance, Sony Corporation announced the next generation gaming console PlayStation 5 with technological changes such as adaptive triggers. Hardcore gamers are willing to spend premium amounts on high performance gaming consoles to enhance their gaming skills, leading to rise in adoption of high-end gaming consoles and gaming controllers.
The increasing demand for home entertainment is leading to adoption of gaming consoles among users, as consumers turn to gaming, which subsequently increases the overall demand for gaming controllers.
Rising popularity and availability of multi-functional consoles are factors driving the gaming controller market, as it enables a gamer to watch videos, listen to music, and download videos while playing games. Hence, it helps in boosting the demand for gaming controllers.
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Gaming Controller Market: Prominent Regions
Asia Pacific accounted for a major share of the gaming controller market in 2019. The increasing demand for entertainment products coupled with easy government rules and regulations to encourage manufacturing units is another key factor expected to boost market growth.
Gaming Controller Market: Key Players
Key players operating in the global gaming controller market are Microsoft, Sony Corporation, Nintendo, Mad Catz Global Limited, Logitech, Razer Inc., Bensussen Deutsch & Associates, LLC., Performance Designed Products LLC, Thrustmaster, HORI USA, dreamGEAR, Speedlink, and Sabrent.
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