Gaming Console Market Industry Analysis and Forecast

Posted by Shubhangi Sapkal on August 19th, 2019

Global Gaming Console Market is expected to reach US$ 85.0Bn by 2026 from US$ 41.0Bn in 2017 at CAGR of 9.54%. Global Gaming Console Market is segmented by type, gamer and region. Type is classified as TV gaming consoles and handheld gaming consoles. Gamer is split into a hard-core gamer and casual gamers. Region-wise divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

Global Gaming Console Market

Increasing availability and popularity of multi-functional gaming console is the most recent trend emerging in the market. Numerous benefits offered by the multi-functional consoles such as enabling gamers to download videos, browse the internet, listen to music and watch videos concurrently while playing games, is expected to favourably impact market growth over the coming years. Driving factor of the market is enhanced features of next-generation gaming consoles and popularity of smartphones and tablets have revolutionized the global gaming market with a rising number of consumers preferring such devices over gaming consoles.

Low penetration of gaming consoles in the E-sports market is the challenge of the gaming console market. The market trend is vendors are manufacturing multipurpose gaming consoles. Based on the type, The TV gaming console segment is gaining popularity over the handheld gaming console as this platform offers gamers a better gaming experience. The past generation of Sony PlayStation and Microsoft Xbox consoles with an 8 GB RAM are compatible with Blu-ray video, HDMI, and digital outputs. The GPU offers able to 1.84 terra floating point operations per second (TFLOPS). The gaming console market will witness considerable growth in this segment throughout the coming years and this will attribute to the increasing number of gamers who consider E-sports as a career option.

On the basis of gamer, Casual games may demonstration any type of gameplay or genre. They are typically distinguished by simple rules and by reduced demands on time and learned a skill, in contrast to more complex hard-core games. The number of casual gamers will continue to rise during the estimated period as consumers are looking for multi-utility devices such as PCs, smartphones, and tablets over dedicated gaming consoles. In terms of region, Europe is dominating the global gaming console market followed by Middle-East.

One of the major reasons for Europe being the leading region is due to the high presence of hard-core TV console gamers. Also, the high average age of the gamers in the region and the technologically advanced audience are the main reasons for the high penetration of the market in this region. The report anticipates this region to witness a decline in market shares at a CAGR of around 14% over the forecast period. Key players operating in the global gaming console market, Nvidia Corp., Valve Corp., PlayJam, BlueStacks, Nintendo Co. Ltd., Mad Catz, OUYA Inc., Microsoft Corp. and Sony Computers Entertainment Inc.

Scope of the Global Gaming Console Market

Global Gaming Console Market, by Type

• TV gaming consoles • Handheld gaming consoles

Global Gaming Console Market, by Gamer

• Hard-core Gamer • Casual gamers

Global Gaming Console Market, Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Key players operating in the Global Gaming Console Market

• Nvidia Corp. • Valve Corp. • PlayJam, BlueStacks • Nintendo Co. Ltd. • Mad Catz, OUYA Inc. • Microsoft Corp. • Sony Computers Entertainment Inc. • OUYA • Tommo

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Shubhangi  Sapkal

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Shubhangi Sapkal
Joined: May 30th, 2019
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