LONDON, October 26, 2022 /PRNewswire/ — Total consumer spending on gaming peripherals was at $8.2 billion in 2021, according to the results of Omdia’s first Game Peripherals Forecast. After standing straight $6.3 billion and $6.4 billion In 2018 and 2019, respectively, peripheral sales exploded during the lockdown, rising 23% in 2020 alone as consumers looked to improve their home entertainment options.
The downside to this COVID-led growth is that 2022 revenue will be down 13% year over year as two factors come into play — a correction from the new patterns of play induced by lockdowns and an overall tightening in spending from consumers who are facing a greater macroeconomic situation than before. Still, peripherals remain on a new, higher growth trajectory, with revenue forecast from 2027 onwards $8.5 billion. Gamepads are the largest contributor to peripherals spend, accounting for 45% of total spend in 2022.
“Gaming peripheral spending grew more or less in tandem with the huge surge in gaming content spending in 2020, as gamers sought to enhance their console and PC gaming with high-end accessories, while new consumers picked up a gaming habit and spend increased total addressable market,” commented Dom Tait, Research Director of Omdia’s games team. “In addition to the strong performance for console gamepads, accessory makers like Turtle Beach, Razer, and Logitech were also big beneficiaries.”
“By contrast, peripherals revenue has been disproportionately hit by cost-of-living pressures in 2022: it is projected to fall by 13%, compared to the projected 4% decline in gaming content spending, as consumers feel more able to delaying buying new peripherals rather than missing out on games themselves. Still, lockdown spending has put the peripherals market in a more positive position than it was before the pandemic, while the recently announced $199 Price point for Playstation’s DualSense Edge wireless controller demonstrates the confidence manufacturers retain in the higher end of the market.”
The Games Peripherals Market Database includes the US, Canada, France, Germany, Italy, SpainGreat Britain, China, Japanand South Korea. Each territory contains splits for gamepads, headsets, keyboards, mice and other types of peripherals such as gamer chairs and steering wheels for the period 2018 through 2027 inclusive.
Omdia, part of Informa Tech, is a technology research and consulting group. Our in-depth knowledge of technology markets combined with our actionable insights empower organizations to make intelligent growth decisions.
Fasihah Khan / T: +44 7503 666806 / E: [email protected]