Desktop control panel
A desktop control panel is a standalone control panel to connect to your PC or console to play arcade stype games. If you do not have the space (or financial resources) to build a full size cabinet, a desktop control panel might be a good solution to have an arcade experience.
A desktop control panel is basically a panel with controls without a cabinet. The control panel connects directly to the PC (for example by USB connection) or to your console.
Some vendors sell ready built PC desktop control panels, such as SlikStik. You can also buy control panels for consoles, usually these are fighter themed such as the Streetfighter panel or Soul Calibur panel.