Gaming hardware comprises high-end hardware components that elevate the gaming experience. The huge scope of games and their hardware is expected to enhance the product demand. Further, the rising exposure to the internet has led to the adoption of games with high-end graphics. It provides gamers with excellent next-generation gaming hardware and is expected to foster the demand for the hardware. The emergence of next-generation hardware and VR games is expected to open remunerative opportunities for the industry. Major streaming giants aim to develop franchise-based games to promote their films. For example, in 2021, Netflix partnered with Striker VR to develop headsets and guns at a gaming booth for its hit “Army of the Dead” franchise.
According to Business Research Insights estimations, the market of gaming hardware was valued at USD 2,169.89 million in 2020 and is expected to grow strongly by exhibiting a CAGR of 8.3% during the forecast period.
Post COVID-19 Outlook: Strong Demand for High-Performance Gaming Hardware and Immersive & Visually Games is Rising
Though the industry faced major setbacks due to lack of hardware, gaming hardware production is slowly picking up pace. Major OEMs incorporate automated production techniques and reach out to third-party vendors to complete orders post the pandemic. The semiconductor industry's slow developments are likely to favor gaming hardware production.
Russia/Ukraine War Impact: As the Conflict Continues to Escalate, Raw Material Disruptions and Supply Chain Issues Persist
The production of semiconductors may be severely affected due to the Russia/Ukraine conflict. Lack of transport and raw material shortages may hinder the availability of chipsets. According to researchers in the industry, the supply of chipsets may continue till the next 2 years, which is until 2024. For example, as per NIKKEI Asia’s article published in June 2022, semiconductor supply may drag for the next 2 more years as chipmakers are struggling to develop alternative raw materials as per SEMI CEO. Most of the chipsets were purchased from Russia. However, conflicts between Russia and Ukraine may hinder raw material availability.
Business Research Presents the Top 7 Players in the Industry
1. Microsoft (U.S.)
Microsoft is an American multinational technology firm that was founded in April 1975. The company is a well-known manufacturer of Xbox consoles. Its flagship Xbox series X offers an excellent gaming experience with top-of-the-end graphics and ray tracing features alongside 4k support.
2. Sony (Japan)
Sony is a Japanese company that was founded in May 1946. Sony is well known for its PlayStation consoles and also offers original games. The company also offers its PlayStation VR headsets with excellent clarity and an immersive gaming experience. Sony also owns its studio, where it produces several original consoles and VR games. The company’s upcoming PS5 games include Spider-Man 2, God of War: Ragnarok, Wolverine, Horizon Forbidden West, and Horizon VR Call of the Mountain that are exclusive to the PS5 platform.
3. Nintendo (Japan)
Nintendo is a Japanese multinational video game developer founded in September 1889. The company manufactures Nintendo Switch devices that offer users excellent screens and portable on-the-go gaming. This gaming hardware is a perfect travel companion, and people looking forward to portable gaming solutions must try this device.
4. Nvidia (U.S.)
Nvidia is an American company that was founded in April 1993. The company offers a slew of industry-leading gaming graphics cards for gaming PCs and laptops. The Nvidia range supports features such as 8K games up to 60fps and 4k 120fps gaming.
5. Razer (U.S.)
Razer is an American company that manufactures gaming phones, laptops, headphones, and other electronics. It was founded in 2005 and consistently offers excellent gaming gear to enthusiasts.
6. Logitech (Switzerland)
Logitech is headquartered in Switzerland and was founded in October 1981. The company offers a gaming mouse, keyboard, headphones, gaming pads, streaming camera, and other accessories. The company produces some industry-leading products that are best-in-class.
7. A4Tech (China)
A4Tech is a Chinese company that was founded in 1987. It provides consumers with the best wireless mouse, keyboard, and Bluetooth headsets. The company’s products offer high speed and precision during gaming.
With Increasing Demand for Realistic Games, High-end Hardware, and the Emergence of Game Streaming Outlets, the Industry May Grow
The industry showcases promising growth as the switch to wireless devices and the adoption of high-speed internet are emerging. Game hardware manufacturing is expected to witness a monumental spike in sales, and the demand for high-end hardware may accelerate the industry’s progress. In addition, high demand for new games and upgrades in-game lighting, resolution, and controls may open up a huge potential for the industry for a long time.