The global gaming console market size is expected to reach USD 54.21 Billion in 2028 and register a CAGR of 5.1% during the forecast period. Global gaming console market revenue growth is driven by factors such as the growth of gaming culture, high demand for video gaming, and a rise in demand for advanced wireless technologies such as Bluetooth 5.0 and Wi-Fi. Gaming consoles are registering increasing popularity due to features such as high-definition (HD) displays and complex graphics.
Together with qualitative and quantitative assessments, the report’s authors have provided forecasts for the Gaming Console market. Two of the most important parts of this study are the SWOT analysis and Porter’s Five Forces analysis, which reveal how intensely competitive the industry is. The comprehensive study of the worldwide Gaming Console market in the report takes into account markets in North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa. This study looks at additional significant characteristics of regional markets in addition to revenue growth drivers, constraints, production consumption patterns, altering consumer tastes, and tight regulatory standards.
More than 700 million people play video games on a dedicated console today, with the gaming console market on course to amount to USD 45 billion in revenue in 2021. And the methods by which companies in the sector make money have evolved dramatically over time. With the release of new consoles from Microsoft and Sony, both firms are making a clear push into software and subscriptions, similar to how Apple has prioritized services in recent years. They are aiming to profit from increased gaming demand as a result of people spending more time at home due to the coronavirus outbreak around the world.
Widely popular gaming console producers like PlayStation have disclosed their aim to expand their console game market share. Due to sustained dedication to the PlayStation brand, a growing audience of female gamers, and expansion outside of North America, Europe, and Japan, the firm believes the PS5 will outperform the immensely popular PS4.
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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
The leading market contenders listed in the report are:
Valve Corporation, Nvidia Corporation, Microsoft Corporation, PlayJam, Nintendo Co. Ltd., BlueStacks, OUYA Inc., Sony Computers Entertainment Inc., Sega, Atari
Target Audience of the Global Gaming Console Market Report:
Key Market Players
Investors
Venture capitalists
Small- and medium-sized and large enterprises
Third-party knowledge providers
Value-Added Resellers (VARs)
Global market producers, distributors, traders, and suppliers
Research organizations, consulting companies, and various alliances interested in this sector
Government bodies, independent regulatory authorities, and policymakers
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Major Geographies Analyzed in the Report:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Market Segmentations of the Gaming Console Market
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This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2021 and 2028. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Gaming Console market on the basis of product, application, and region:
Segments Covered in this report are:
Platform Outlook (Revenue, USD Billion; 2018–2028)
TV
Desktop/Laptop
Tablet
Mobile
Modality Outlook (Revenue, USD Billion; 2018–2028)
Home Consoles
Handheld
Hybrid
Application Outlook (Revenue, USD Billion; 2018–2028)
Shooter
Action
Sports
Adventure
Racing
Fighting
Others
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Some Key Highlights From The Report:
Handheld segment revenue is projected to grow at a steady rate during the forecast period. This growth is mainly owing to the fact that such devices allow gamers to play games anywhere and even without internet connection.
Among other end use segments, residential segment revenue is expected register a rapid CAGR during the forecast period. The covid-19 pandemic has helped to further boost this segment’s growth as more people are gaming while following stay at home orders.
Among other platform segments, desktop/laptop segment revenue is expected register a rapid growth during the forecast period.
Asia Pacific is expected to account for a robust double-digit revenue CAGR during the forecast period. Countries such as Japan, South Korea, China, and Australia are major gaming hotspots, and demand for gaming consoles is relatively high among a steadily expanding base of new users.
Additional information offered by the report:
Along with a complete overview of the global Gaming Console market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
The report elaborates on the global Gaming Console market size and share governed by the major geographies.
It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
It further presents a detailed description of the company profiles of the key market contenders.
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