The advisory and tech research company, Omdia, has shared its first Games Peripherals Forecast report. The data covered ten leading countries in the market and a period between 2018 and 2027.
Related: Games, consoles, and gaming accessory sales down says GSD’s report
The company stated that the market will suffer a 13% decline in a year-over-year comparison in 2022. According to the data, the market saw a tiny growth between 2018 and 2019, going upward from $6.3 billion to $6.4 billion. It was also revealed that global revenue of the game peripherals market will amount to $8.5 billion by 2027.
With the arrival of COVID and the lockdown period, the game peripherals market saw an increase of 23% in 2020. The company shares that this decline is caused by the global economic recession and the end of lockdowns.
Dom Tait, Research Director of Omdia’s Games team, made comments about the recent discoveries:
“Spend on games peripherals rose more or less in lockstep with the huge increase in games content spend in 2020, as gamers sought to optimize their console and PC games playing with high-end accessories. New consumers picked up a gaming habit and increased the total addressable market. On top of strong performances for console gamepads, accessory manufacturing companies like Turtle Beach, Razer, and Logitech were also major beneficiaries.”
The experienced director stated that 2022 brought increased living costs, causing consumers to move away from buying new gaming equipment. Tait also mentioned that when buyers have to choose between new peripherals or new games, they generally tend to stick with their old equipment and purchase new titles instead.
“Nevertheless, lockdown spending has placed the peripherals market in a more positive position than pre-pandemic, while the recently announced $199 price point for PlayStation’s DualSense Edge wireless controller demonstrates the confidence that manufacturers retain in the top end of the market.”
Omdia is an organization that provides technology market research, consulting, and advisory services. Its parent company, InformaTech, is home to over 100 tech companies providing a wide variety of services for the industry. You can find the full report here.
