LONDON--(EON: Enhanced Online News)--Technavio analysts forecast the global gaming headset market to grow to USD 2.12 billion by 2021, at a CAGR of more than 7% over the forecast period, according to their latest report.
“E-sports is becoming highly popular, with the number of people competing in global gaming tournaments witnessing an increase. The rise in popularity of e-sports is leading to an increase in demand for gaming in specific peripherals such as gaming headsets”
The research study by Technavio on the global gaming headset market for 2017-2021 provides a detailed industry analysis based on product (PC gaming headset and console gaming headset), technology (wired gaming headset and wireless gaming headset), distribution channel (offline and online), and geography (the Americas, APAC, and EMEA).
Currently, wired headsets are leading the revenue generation in the global gaming headsets market, occupying over 62% of the total share. However, wireless headsets are witnessing high penetration rates, with improvement in technology and battery lives. Wireless headsets are projected to lead the market by the end of the forecast period, generating close to 53% of the overall revenue.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global gaming headset market:
- Growth in the global e-sports market
- Technological developments and product innovation
- Sophisticated techniques in gaming
Growth in the global e-sports market
“E-sports is becoming highly popular, with the number of people competing in global gaming tournaments witnessing an increase. The rise in popularity of e-sports is leading to an increase in demand for gaming in specific peripherals such as gaming headsets,” says Ujjwal Doshi, a lead analyst at Technavio for gaming research.
E-sports adds entertainment value to gaming by helping the gamers get a global exposure where people can enjoy the game by competing against the best in the world. The popularity of e-sports is at an all-time high, which will continue to grow during the forecast period, thereby driving the growth of the market.
Technological developments and product innovation
The gaming market is witnessing several significant technological developments and product innovations, providing improved graphics to make the gaming experience more realistic. These advances incorporate the use of additional hardware such as gaming headphones and other audio-visual aids to provide the ultimate gaming experience to the users. Games such as Call of Duty series, Warcraft series, Diablo III, FIFA series, Battlefield series, Grand Theft Auto, Metal Gear, and L.A. Noire, use the latest software and graphics, drawing a large number of players. The high number of takers for these games ensures a steady revenue stream to the gaming headset market.
Sophisticated techniques in gaming
“The techniques used by gamers are constantly evolving to keep up with the increased complexity and sophistication of the latest games. Also, the number of adult consumers who can afford to spend more to procure the best gaming paraphernalia are increasing, resulting in a direct increase in the sales of gaming headphones,” says Ujjwal.
The increase in the number of adult consumers has not only increased the target audience base, but has also resulted in the emergence of gaming as a way of entertainment, stress buster, and means to an enhanced gaming experience. This has resulted in the increased sales of premium gaming peripherals, thereby adding significant revenue to the market.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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