Gear Up for Gaming Accessories in 2022 and Beyond!
2021 was a difficult year due to the impact of the pandemic but thankfully 2022 has started out of the gate strong - as we see things reverting back to pre-pandemic days. Online activities remain strong, however, offline activities are also on the increase as people begin to socialize more and more. The surging popularity of esports and console/PC gaming is driving a fever for gaming peripherals. Now, as the younger workforce increases, the popularity of gaming peripherals continues to grow and positively impact the gaming products market.
According to Report Ocean, the global gaming peripherals market is anticipated to reach 4.5 Billion USD in 2022 with continued growth to nearly 8.7 Billion USD by the year 2030. The overall gaming peripherals market is anticipated to register a CAGR of 10% over the assessment period. Statistics like these are hard to ignore and represent a huge opportunity for online and offline resellers.
2022 is shaping up to be one of the biggest years in gaming history
As previously mentioned, the world is opening back up, and with that, a variety of game manufacturers are releasing highly anticipated game titles that were previously delayed. These new releases further excite a hungry market full of gaming enthusiasts. Accenture Report forecasts that there will be nearly 400 million new gamers by 2023. Further indication that we’ve reached a sweet spot for resellers to enter the gaming peripherals market.
(A few of 2022 popular upcoming games)
With the growing awareness of eSports, gaming – both on and offline- continue to have a dramatic increase. This has created virtual and real-life social interaction where games and gaming strategies are discussed along with recommended peripherals and accessories that enhance performance and gaming enjoyment. All of these elements combine to prompt analysts to forecasts a boom in peripherals and market growth.
Growing popularity of online gaming/streaming sustains community relationships
The number of online game players and video game streamers has increased substantially over the pandemic and continues to grow today. It’s anticipated that the Game Streaming Market will grow at a CAGR of 9% over the next 5 years.
Streaming video gamers has also experienced an increase in new viewers who have spent literally millions of hours watching their gaming “heroes”. This growing viewership and rising fan base bring more and more people into the industry. Experts anticipate game streaming devices will have continued potential for future growth and development. 
Multiplayer interactive games are also growing in numbers and becoming increasingly popular, further enlarging the community of game players around the world.
Increased investments have resulted in higher eSports gaming awards
From 2012 to 2018 eSports viewership grew nearly 195%! In 2021, a large amount of capital entered the eSports industry, with the prize money of many eSports events reaching new highs, further attracting the interest of viewers and participants. Investments in the online gaming sector continue to increase at considerable rates in major markets around the world.
Based on data published by the National Investment Promotion & Facilitation Agency, Venture Capital (VC) funding for gaming startups in some countries, such as India, stood at 350 Million USD from 2014 to 2020 – VC dollars are expected to grow at a CAGR of 22%. In addition, Hangzhou, China will bill constructing 15 eSports facilities during 2022 and invest nearly 2.22 Billion USD in support of the gaming industry. The rapid growth of game streaming in China has attracted investors, led by China’s eSports giant Tencent Holdings.
Furthermore, Riot Games has confirmed that the 2022 League of Legends World Championship will be held in North America across four cities. Previously, the league had shifted to an entirely virtual format where players competed online with commentators broadcasting remotely. With the return of live in-person events, the eSports craze can once again take off as demand for the accessories and peripheral products increases as well.
To summarize, as eSports grows, so does the number of companies that enter the market for competitive advantage and to expand their geographic presence. As an example, Netflix recently joined the gaming space and continues to add new video game exclusives that cater to users looking for interactive content.
The huge and growing amount of exposure to the eSports gaming market has created a demand for accessories and peripheral gaming products for the reseller. If you’re looking for a growing market niche for your business, one that is anticipated to increase and grow over the next few years, gaming accessories and peripheral products are in the market for you.
Contact LUMI at info@lumi.cn for information on our extensive line of gaming products and accessories and to learn more about this exciting market, load up the LUMI website today!
Source：
https://www.researchandmarkets.com/reports/5311992/gaming-peripherals-market-global-industry
https://www.newschannelnebraska.com/story/45613821/gaming-peripherals
