The craze for the latest gaming hardware never dulls in the minds of hardcore gamers. The swift technological advancements being witnessed in the gaming industry bolster the demand for next-generation gaming systems. The growing popularity of 4K games and virtual reality-based games proliferates the demand for advanced hardware. Development of immersive games using artificial intelligence and machine learning boosts the demand for advanced gaming hardware. Furthermore, the growing popularity of mobile games, such as COD, PUBG, and Clash of Clans, further propels the gaming industry’s development.
However, the recent coronavirus pandemic negatively impacted the gaming industry. Raw material shortages and semiconductor shortage affected the product demand. Additionally, the shutdown of production plants and halted manufacturing of gaming systems aggravated the situation. Nonetheless, manufacturers operating in the market adhered to reduced capacities and part-time shifts, which helped in market’s stabilization. The increasing development of VR headsets and incorporation of advanced technologies to offer immersive gaming experience are expected to flourish the growth for gaming hardware manufacturers. As per Business Research Insights, the global market for gaming hardware is predicted to exhibit a CAGR of 8.4% between 2022 and 2027. The growing demand for immersive 4K and VR games is projected to favor the market’s expansion.
Business Research Insights Identifies the Following as the Top 5 Leading Gaming Hardware Companies:
1. Sony
Sony Group Corporation was founded in 1946 and is headquartered in Minato City, Tokyo, Japan. It renamed itself from Sony Corporation to Sony Group Corporation in April 2021. It is one of the largest video game publishers and video game console companies. Apart from that, it operates as one the largest producers of professional electronic products. The company generated a revenue of USD 87.80 billion in 2021. Sony’s flagship gaming system, the Play Station, is highly demanded across the world. The company keeps upgrading its Play Station frequently and is a favorite amongst gamers.
2. Microsoft Corporation
This American multinational technology corporation was founded in April 1975 and is headquartered in Washington, U.S. The company ranked 20th in the Fortune 500 rankings released in 2020. The company’s famous gaming brand Xbox and numerous mobile phone games proliferate the company’s business in the gaming hardware industry. It is amongst the Big 5 American IT companies, including Meta, Apple, Amazon, and Google.
3. Nintendo
This Japanese multinational video game company was founded in September 1989 and is headquartered in Kyoto, Japan. The company develops games and gaming consoles and is renowned for its successful consoles such as Nintendo DS, the Game Boy, and the Switch. The company’s mascot Mario is well recognized across the world. Nintendo acquired SRD Co. Ltd. In February 2022.
4. NVIDIA Corporation
NVIDIA Corporation was founded in April 1994 and is headquartered in Santa Clara, U.S. The company designs application programming interface, graphics processing units, chipsets, collaborative software, and supplies its gaming hardware to several computer system manufacturers. The company also supplies automotive software/hardware to prominent automotive manufacturers and OEMs.
5. Razer
This Singaporean-American multinational technology company was founded in January 1998 and is dual-headquartered in Irvine, California, U.S. and One-north, Singapore. The company develops, designs, and sells gaming hardware, financial services, and consumer electronics. The company’s products are mainly targeted toward gamers. Keyboards, gamepads, mice, mouse mats, and audio devices are a few computer peripherals offered by the company. The company launched a line of high-grade designer masks in January 2021 to raise consumer’s awareness for wearing masks.
The major players operating in the industry emphasize the development of cutting-edge technologies to develop efficient products. They follow gaming trends and incorporate advanced technologies such as ML, AI, and VR to launch immersive games. The gamers’ population is enormously expanding as the rising digitalization holds a tight grip globally. This is likely to benefit the manufacturers operating in the industry and flourish the market growth. Thus, the launch of new games, chipsets, software, and hardware is predicted to foster the industry development.