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According to a latest research report titled “Gaming Controller Market Forecast to 2027 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market was valued at US$ 1,663.5 million in 2019, and it is expected to grow at a CAGR of 8.0% during 2020–2027 to reach US$ 2,973.5 million by 2027.
APAC Gaming Controller Market to Grow at Highest CAGR during Forecast Period
The presence of developing economies, such as China, India, South Korea, Malaysia, the Philippines, and Taiwan, makes Asia a developing continent. Stable economies and surging technological advancements support the growth of various industries and markets in the region. Moreover, digitalization of economies and industries such as gaming, and rising disposable income of the middle-income class group are among the factors propelling the overall economic growth of the region and driving it from a developing to developed phase.
The adoption of video gaming is rising among young and old population across APAC. In 2020, there were nearly 1.5 billion gamers, which prove Asia Pacific as one of the largest region for video gaming globally. China, Japan, and South Korea are amongst the top 10 markets in terms of game revenues. Taiwan, India, Indonesia, Thailand, the Philippines, Malaysia, and Vietnam are other small gaming markets growing in Asian economy. Moreover, the trend of eSports in the region is expanding; around 10 million enthusiasts, with 2 million in Indonesia and 2.8 million in Vietnam have showed their interest toward eSports.
Key Findings of Study:
Video gaming is no longer exclusively enjoyed by youngsters. With the evolution in the gaming industry, people of diverse age groups are increasingly inculcating gaming culture in their daily routine. A few play video games to spend their leisure, while some foresee it as a lucrative career option. Significant percent of internet users in North America (73%), Europe (76%), APAC (84%), MEA (83%), and SAM (86%) play video games. The data presented below depicts the gaming demographic trends.
Internet Gaming users (%) Age Group
48% 23–26 (Millennial)
25% 37–55 (Gen X)
23% 16–22 (Gen Z)
Moreover, adoption of consoles such as Sony’s PlayStation 5, Microsoft’s Xbox Series X, and Nintendo Switch is increasing rapidly, which depicts the surging interest of gamers toward advanced consoles. Additionally, growing adoption of gaming consoles is driving the sales of associated gadgets such as joysticks, gamepad, throttle quadrant, and controllers. Moreover, the console owners are looking forward to improvise or procure next-generation consoles to enhance gaming experience.
In the last few years, the professional gamers have undergone strict training in state-of-the-art facilities, using gaming analytics, with an aim to enhance their performance. The above mentioned facts related to demographics, adoption of sales, and professionalization of gaming are highlighting the importance of gaming trend, which, in turn is driving the growth of the gaming control market.
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