Market Trends of PC Accessories Industry
Emergence of Technologies such as AR, VR, and AI to Drive the Market
- The growing demand for personal computers and gaming accessories worldwide is a result of an increase in Internet connectivity, as well as the arrival of high speed broadband networks like 5G. According to SWZD, the information technology planned to be implemented in North American and European organisations, such as 5G technologies, 53%, and 37% of respondents stated that their firms planned to adopt virtual reality technology in 2023.
- Significant game console makers, such as Nintendo and Microsoft, have identified the potential of augmented reality and are leading the charge. The gaming business continuously evolves, with the latest technologies, such as augmented reality (AR), developed yearly. AR technologies have several usages in gaming, Enhancing the user experience and making new elements of play. The location of the deployment of AR technologies is another critical factor. In particular, the PC and Platform market is affected by virtual reality games. The Oculus and HTC devices dominate the PC market, while PSVR continues to be popular with Sony console players.
- Further, in October 2022, Micledi Microdisplays, a significant developer of microLED displays for augmented reality (AR) glasses, and Kura Technologies, one of the top global innovators in AR headsets, announced a collaboration to manufacture AR glasses. Kura designs the new glasses and incorporates MICLEDI's unique 300mm microLED displays to achieve the performance required for Kura's next generation of AR glasses. Such developments may further propel the studied market growth.
- Moreover, VR game creators encourage the wider populace to adopt virtual and augmented reality-based videogames, sometimes in headgear and motion tracking sets, to engage in an entirely realistic gaming experience. Further, in June 2023, Meta launched new Quest 3 virtual reality headgear with improved performance and slimmed design available at a starting price of USD 500.
- In order to keep up with the latest technologies, various key players in the gaming VR device industry constantly update their offers. There is also Sony's PlayStation VR device, which pushes the envelope. Sony announced that PS VR2 will be launched in November 2022 February 22, 2023. The PlayStation VR2 Sense controller charging station, specially developed for the PS VR2 Sense controller, is also anticipated to be available on the same day.
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Asia Pacific is Expected to Hold the Significant Market Share
- The rising favor of virtual gaming has led to the evolution of PC gaming accessories. The growing popularity of e-sports and the extending number of gamers worldwide are anticipated to drive demand in the Asia-Pacific region. For instance, in June 2023, Indian gaming-focused venture capital (VC) fund Lumikai launched a USD 50 million fund, which includes investments from South Korea's Krafton (259960. KS) and Japan's Colopl (3668.T). Other investors in the fund include former Take-Two Interactive (TTWO.O) boss Ben Feder, music streaming service Napster's CEO Jon Vlassopulos, Finnish mobile game developer Supercell, and Japan's Mixi (2121.T).
- In addition, in November 2022, HyperX launched the Armada series of gaming monitors in India, including a 25-inch FHD and a 27-inch QHD monitor. The gaming monitor comes with an Armada desk mount and gaming mount made of metal with an Armada arm that supports monitors up to 32 inches and 20 pounds.
- China has a significant market share in global PC accessories over the forecast period due to its strong presence of central computer and equipment accessory manufacturers. As the IT sector grows and technology evolves constantly, there is expected to be a growing demand for PC accessories in this country.
- Everywhere in the world, there's a growing interest in online gaming. Technologically superior accessories like mouse, mechanical keyboard or headphones are needed to improve the performance of a user's gaming experience. The need for PC accessories will increase as a result. A set of customized PC accessories is manufactured by major players from this country in the field of Internet gaming. In the case of China, that aspect is expected to have a positive impact in expanding the PC accessories market.
- As a result of the increasing number of players and technological developments in recent years, gaming consoles are becoming more and more popular in Japan.. Further, in February 2023, Vi entered into e-sports in partnership with Gamerji. Partnering with e-sports start-up Gamerji, Vi, under the umbrella of Vi Games, launched an e-sports platform on the Vi App. Such developments may further drive the studied market growth.
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