Gaming Hardware - Nordics

Nordics

Highlights

In the Nordics, revenue in the Gaming Hardware market market is projected to reach US$1.93bn in 2024.
Revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 6.82%, resulting in a projected market volume of US$2.68bn by 2029.
Within the Gaming Hardware market market of the Nordics, the number of users is anticipated to amount to 1.9m users by 2029.
User penetration will be 6.1% in 2024 and is expected to rise to 6.7% by 2029.
The average revenue per user (ARPU) in this region is expected to be US$1.12k.
In a global context, the majority of revenue will be generated China, with a forecast of US$33.31bn in 2024.
In the Nordics, the gaming hardware market is experiencing a surge in demand, driven by a growing esports community and increasing digital innovation.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Gaming Hardware market in Nordics has been experiencing significant growth in recent years, driven by the increasing popularity of video games and the growing demand for high-quality gaming equipment. Customer preferences in the Gaming Hardware market in Nordics have been shifting towards more advanced and sophisticated gaming equipment. Gamers in the region are looking for products that offer superior performance, high-resolution graphics, and immersive gaming experiences. There is also a growing demand for gaming peripherals such as gaming keyboards, mice, and headsets, as gamers seek to enhance their overall gaming experience. One of the key trends in the Gaming Hardware market in Nordics is the rise of eSports. eSports has gained immense popularity in the region, with a growing number of professional gaming teams and tournaments. This has led to an increased demand for gaming hardware that can support the intense competitive nature of eSports. Gamers are investing in high-performance gaming PCs, gaming monitors with fast refresh rates, and gaming accessories that can give them a competitive edge. Another trend in the market is the increasing adoption of virtual reality (VR) gaming. VR gaming provides a more immersive and realistic gaming experience, and gamers in Nordics are embracing this technology. There is a growing demand for VR headsets, motion controllers, and other VR accessories that can enhance the VR gaming experience. This trend is expected to continue as VR technology becomes more affordable and accessible. Local special circumstances in the Gaming Hardware market in Nordics include the strong gaming culture and high disposable income in the region. The Nordics have a long history of gaming, and gaming is deeply ingrained in the culture. This has created a strong market for gaming hardware, as gamers are willing to invest in high-quality equipment to enhance their gaming experience. Additionally, the high disposable income in the region allows gamers to afford premium gaming hardware, contributing to the growth of the market. Underlying macroeconomic factors that are driving the growth of the Gaming Hardware market in Nordics include the strong economy and technological advancements. The Nordics have a strong and stable economy, which has led to increased consumer spending on gaming hardware. Additionally, technological advancements in gaming hardware, such as faster processors, higher resolution displays, and improved graphics capabilities, have attracted gamers in the region to upgrade their gaming equipment. In conclusion, the Gaming Hardware market in Nordics is experiencing significant growth, driven by customer preferences for advanced gaming equipment, the rise of eSports, the increasing adoption of VR gaming, the strong gaming culture, high disposable income, and underlying macroeconomic factors such as a strong economy and technological advancements.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Gaming Hardware market, which includes various types of gaming devices such as consoles, gaming PCs and laptops, and peripherals. This market covers both online and offline sales of gaming hardware. All monetary figures refer to consumer spending on these hardware products and accessories. This spending considers any discounts, margins, and taxes.

Modeling approach / Market size:

The market size is determined through a comprehensive approach. We utilize data from annual financial reports of leading companies, industry associations, third-party studies and reports, primary research surveys (e.g., Consumer Insights), and performance metrics (e.g., user adoption rates, price points, usage patterns) to analyze the markets. To estimate the segment size for each country, we consider relevant key market indicators and data from country-specific industry associations. This includes macroeconomic indicators, historical trends, current market dynamics, and reported performance metrics of key industry players. Factors like average prices and purchase frequencies are considered.

Forecasts:

We apply diverse forecasting techniques tailored to the behavior of the specific market. For instance, methods like trend smoothing and adoption curve analysis are well-suited for forecasting trends in gaming hardware, considering the evolving nature of technology adoption. The main drivers influencing forecasts include economic indicators such as GDP per capita, consumer spending per capita, and technological advancements like 5G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated biannually to reflect any changes in market dynamics. The impact of external factors, such as the COVID-19 pandemic, is considered at the country-specific level. The text incorporates current exchange rates in its modeling. Additionally, any impacts from events like the Russia-Ukraine war or significant industry developments are considered on a country-specific basis. The market information is refreshed twice a year. In some instances, updates are made on an ad hoc basis, such as when new pertinent data is released or substantial shifts within the market impact projected trends. Consumer Insights data is reweighted to ensure representativeness.