Gaming hardware market in Europe 2023-2027; A descriptive analysis of the five forces model, market dynamics, and segmentation

NEW YORK, Feb. 10, 2023 /PRNewswire/ — According to Technavio, the gaming hardware market size in Europe is estimated to grow by USD 3,577.97 million from 2022 to 2027. The market is estimated to grow at a CAGR of 4.81% during the forecast period. The report includes historic market data from 2017 to 2021. In 2017, the market was valued at USD 9,614.72 million. For more Insights on market size Request a sample report

Gaming hardware market in Europe – Five Forces
The cloud data warehouse market is fragmented, and the five forces analysis covers–

• Bargaining Power of Buyers

• The threat of New Entrants

• Threat of Rivalry

• Bargaining Power of Suppliers

• Threat of Substitutes

• Interpretation of porter’s five models helps to strategize the business, for entire details – buy the report!

Gaming hardware market in Europe – Customer Landscape 

The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Gaming hardware market in Europe – Segmentation Assessment

Segment Overview
Technavio has segmented the market based on Product (Consoles, PC, and Accessories).

• The market growth will be significant in the consoles segment during the forecast period. The segment is primarily driven by the growing popularity of e-sports. In addition, the introduction of innovative features in gaming consoles such as touch controls, voice recognition, and gesture control are fueling the growth of the segment.

For further highlights on the segment analysis, Download a Sample Report

Gaming hardware market in Europe – Market Dynamics

Key factor driving market growth

• The market is driven by the rising popularity of e-sports games in Europe.

• The number of viewers for e-sports such as League of Legends, Call of Duty: Warzone, and others is continuously increasing in Europe.

• The growth in viewership is leading to an increase in the number of aspiring professional gamers.

• The rise in the number of professional gamers is increasing the demand for gaming peripherals, which, in turn, is driving the growth of the market.

Story continues

Leading trends influencing the market 

• The rising popularity of multiplayer video games is a key trend in the market.

• Multiplayer video games allow players to connect with other players and interact over the network or dial-up connections.

• Multiplayer games allow players to play at the same time on one system or on different systems.

• The rising popularity of multiplayer games is increasing the adoption of various gaming hardware including consoles, PC, and other gaming hardware.

Major challenges hindering the market growth

• The easy availability of counterfeit products is a major challenge hindering market growth.

• Many vendors in the market are exploring ways to avoid the use of counterfeit gaming hardware and peripheral devices.

• Counterfeit products put a huge toll on innovations and affect the sales of vendors.

• These products are posing a serious threat to the revenue generation of vendors as well as the growth of the market in focus.

Driver, trend, and challenges are the factor of market dynamics that state about
consequences & sustainability of the businesses, find some insights from a sample
report!

What are the key data covered in this gaming hardware market in Europe report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the gaming hardware market in Europe between 2023 and 2027

• Precise estimation of the size of the gaming hardware market in Europe and its contribution to the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the gaming hardware market across Europe

• A thorough analysis of the market’s competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of gaming hardware market vendors in Europe

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Table of contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Vendor Landscape

11 Vendor Analysis

12 Appendix

About Us
Technavio is a leading technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio