Market Trends of North America Gaming Hardware And Accessories Industry
Gaming PCs to Hold Major Market Share
• Gaming PCs are high-performance computers optimized for playing video games at high settings, frame rates, and resolutions. They feature powerful processors (like Intel Core i7/i9 or AMD Ryzen), dedicated graphics cards (such as NVIDIA GeForce RTX or AMD Radeon), and ample RAM for smooth multitasking and gaming.
• These PCs often have customizable RGB lighting, advanced cooling systems, and high-quality cases for optimal airflow. Gaming PCs can be pre-built or custom-built, allowing for user-specific configurations. They are designed for gamers who demand fast, smooth, and immersive gameplay, often featuring high refresh rate monitors and advanced peripherals for enhanced gaming experiences.
• The growth of gaming PCs in North America is driven by the rising popularity of gaming culture and esports, which has created a high demand for powerful gaming systems. Technological advancements, such as high-performance processors and graphics cards, have improved gaming experiences, attracting more gamers within the region. The customization and personalization options available with gaming PCs also contribute to their appeal. The growth of online gaming communities and social interaction through gaming also fuels this trend.
• The price of an entry-level gaming PC can vary depending on the components the user chooses, but generally, one can expect to spend between USD 300 and USD 800. Determining the gaming PC setup cost relates closely to the gaming needs, budget, and energy considerations. A good setup typically ranges from USD 1,000 to USD 4,000, though less expensive options exist for those with budget constraints. Most gamers find a comfortable middle ground with a budget spanning between USD 1,000 and USD 2,500.
• The market is witnessing various strategic product launches and investments by key players as part of their strategy to improve business and their presence to reach customers and meet their requirements for various applications.
• For instance, in January 2024, MSI, a premium laptop brand, launched the latest AI-powered laptops and a series of 18” laptops featuring Intel 14th Gen HX-series processors and the largest vapor chamber thermal modules, aiming to be the most powerful in the industry. MSI’s latest line of AI-powered laptops come equipped with NPU(Neural Processing Unit), a built-in Intel Core Ultra processor, and luxurious aesthetics that deliver extreme performance and innovative technology capitalizing on AI technology.
• Also, in April 2024, HP introduced its lineup of premium gaming laptops with the latest Omen 17. Featuring the latest AI-enhanced AMD Ryzen 8000-series mobile chips, it is the first Omen product to come with a dedicated Copilot key for Microsoft’s latest AI assistant. Additionally, the laptop provides AI-enhanced meeting features like enhancing the built-in webcam and microphone for an improved video calling experience.
• According to the Game Developers Conference, gaming is rapidly changing, and game developers must adapt to continually keep up with the latest trends. In 2023, 64 percent of responding game developers in North America said they were most interested in PCs as a game development platform. The rise in such developments and an increased focus on competitive gaming among people in the United States and Canada is driving the overall market’s growth opportunities significantly.
United States Expected to Witness Significant Growth
• The growth of gaming accessories in the United States is driven by the expanding gaming industry, with a growing player base, which fuels demand for accessories that enhance gaming experiences. The rise of esports and competitive gaming creates a need for specialized gear, while content creation and streaming platforms like Twitch drive demand for high-quality microphones, cameras, and lighting. The shift to remote work and learning has raised interest in ergonomic gaming chairs and headsets.
• According to the Entertainment Software Association, states like Florida, North Carolina, New York, Texas, California, and Washington possess a greater demand for gaming, yielding a higher rate of revenue from the gaming industry.
• Casual genres, including arcade and puzzle games, continue to be the most played among US adults. Of players' total time spent on entertainment (TV, music, video games, etc.), video games accounted for a quarter of their overall time and are highly valued. Nearly half the players reported that video games deliver the most entertainment value for money spent. About 58% of adult video game players utilize multiple platforms to play and use a combination of mobile, consoles, and PCs. The rise in such usage of platforms demands better gaming accessories that include gaming mice, headsets, keyboards, and controllers, driving the market's growth opportunities significantly within the country.
• Overall, in the United States, console gaming is somewhat more popular than PC gaming, which is an anomaly compared to the rest of the world. This is because people in the United States believe that PCs cost more. This drives the demand for console headsets and controllers more than PC accessories. The PlayStation 5 sold 16.10 million units in the country in 36 months till October 2023, while the Xbox Series X|S sold 11.88 million units, indicating a strong demand for gaming consoles in the United States.
• According to Consumer Technology Associations, In the United States, in December 2023, NextGen gaming console ownership and purchase intentions among households were 26 and 20 percent, respectively.
• The market players are taking rigorous action to enhance their consumer base by focusing on multiple industry verticals. They are also focusing on increasing their global footprint and service offerings. For instance, in April 2024, HyperX launched advanced innovations tailored to elevate the gaming experience in the gaming peripherals industry.
• With the launch of the HyperX Alloy Rise Gaming Keyboard series, the brand reaffirmed its commitment to providing high-performance solutions catering to gamers' evolving demands. Featuring craftsmanship and advanced technology, the HyperX Alloy Rise Gaming Keyboard and its compact counterpart, the HyperX Alloy Rise 75 Gaming Keyboard, are poised to set new standards in gaming excellence.
• In April 2024, Logitech continued its push to attract pro gamers and severe hobbyists by announcing its latest gaming peripheral, the Logitech G Pro X 60 LIGHTSPEED. It is mainly a compact but capable and highly customizable wireless esports keyboard. Due to its build and many features, Logitech is touting its latest device as being "professional-grade," with refined hardware and specially developed supporting software adding credence to this.
