Market Size of United States Gaming Console & Accessories Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 12.13 Billion |
| Market Size (2029) | USD 21.10 Billion |
| CAGR (2024 - 2029) | 11.71 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
US Gaming Console & Accessories Market Analysis
The United States Gaming Console & Accessories Market size is estimated at USD 12.13 billion in 2024, and is expected to reach USD 21.10 billion by 2029, growing at a CAGR of 11.71% during the forecast period (2024-2029).
Continuous technological advancements in the gaming industry are driving the expansion of the gaming console and accessories market. Game developers in the United States continually strive to enhance gamers' experience, thereby launching and rewriting codes for various consoles/platforms, such as PlayStation, Xbox, and Windows PC, incorporated into one product and provided to the gamers through the cloud platform.
- The rapid growth of e-sports has increased the demand for advanced gaming keyboards and gamepads. The gaming accessories market is expected to grow over the forecast period with the continuous enhancement of gaming content.
- Integration of newer technologies, Like 3D and AR/VR gaming, is driving the market. The gaming console is no longer limited to characters fighting battles, completing missions, and conquering foes in two-dimensional space. Virtual reality is where technology meshes video games with the real 3D world. Diminishing the lines between fantasy and reality, VR is helping create gaming worlds that are more realistic and immersive for today's technology-obsessed gamers.
- Cloud gaming is an emerging technology across the gaming industry, allowing users to stream high-end games across hand-held devices, such as laptops, tablets, and mobiles, with fast network connectivity, thereby eliminating the requirement for a regular hardware upgrade or a gaming console/PC. Such factors are anticipated to have a negative impact on market growth in the long term.
- Due to the COVID-19 lockdown, people stayed home, and some turned to the gaming platform to spend their time. These platforms attracted more new visitors in online traffic and created a demand for various gaming accessories. Furthermore, the increase in gaming during the COVID-19 lockdown came with a surge in new game releases. Post-pandemic, the market was growing rapidly with the launch of new gaming content in the country.
US Gaming Console & Accessories Industry Segmentation
The gaming console & accessories outputs a video signal or visual image to display a video game comprising a gaming console and accessories types provided to the United States region.
The United States gaming console & accessories market is segmented by type (gaming console, accessories). The market sizes and forecasts are provided in terms of value in USD for all the above segments.
| By Type | |
| Gaming Console | |
| Accessories |
United States Gaming Console & Accessories Market Size Summary
The United States gaming console and accessories market is experiencing significant growth, driven by continuous technological advancements and the increasing popularity of e-sports. The market is characterized by the integration of cutting-edge technologies such as 3D and AR/VR gaming, which are enhancing the gaming experience by creating more realistic and immersive environments. The rise of cloud gaming is also reshaping the industry, allowing users to stream high-end games on various devices without the need for regular hardware upgrades. This evolution in gaming technology is attracting a diverse range of players, as video gaming becomes a mainstream form of entertainment across different age groups.
The market is dominated by major players like Sony, Microsoft, and Nintendo, who are continually innovating and expanding their product offerings. The demand for gaming consoles is bolstered by the release of new game content with high visual quality, which is a key factor in consumers' purchasing decisions. The gaming accessories market is also thriving, with advancements in gaming keyboards and gamepads enhancing the overall gaming experience. Strategic partnerships and product launches, such as those by Turtle Beach Corporation and Logitech, are further propelling market growth. Despite the challenges posed by emerging technologies like cloud gaming, the market remains robust, with a strong focus on delivering superior graphics and immersive gaming experiences.
United States Gaming Console & Accessories Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Threat of New Entrants
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1.2.2 Bargaining Power of Buyers/Consumers
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1.2.3 Bargaining Power of Suppliers
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1.2.4 Threat of Substitute Products
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1.2.5 Intensity of Competitive Rivalry
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1.3 Industry Value Chain Analysis
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1.4 Assessment of Impact of COVID-19 on the Industry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Gaming Console
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2.1.2 Accessories
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United States Gaming Console & Accessories Market Size FAQs
How big is the United States Gaming Console & Accessories Market?
The United States Gaming Console & Accessories Market size is expected to reach USD 12.13 billion in 2024 and grow at a CAGR of 11.71% to reach USD 21.10 billion by 2029.
What is the current United States Gaming Console & Accessories Market size?
In 2024, the United States Gaming Console & Accessories Market size is expected to reach USD 12.13 billion.
