Gaming Console Market Is Expected to Register a CAGR of ~5.00% During the Review Period, 2022–2030

MRFR Press Release/Market Research Future has published a Half- Cooked Research Report on the Global Gaming Console Market.

Overview

Gaming Console market is expected to register a CAGR of ~5.00% during the forecast period, 2022–2030. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the Gaming Console market to offer a better glimpse into the coming years.

The major factors driving the growth of the gaming console market are the rising demand of 3D video games and increasing number of e-sport tournaments. However, lack of skilled professionals is hindering the market growth. Although, advancement in core wireless connectivity is creating an opportunity in the market.

Segmental Analysis

The global gaming console market has been segmented based on type, application, end user and region.

By type, the global gaming console market has been divided into home console, handheld console, hybrid console. A home console is a gaming console that is connected to a device such as displays, television and to an external power source. These have advanced graphics abilities but with a limited storage capacity. The handheld console is has a built-in game consoles, screen and speaker. It is a portable, small self-contained video game console that contains console, speaker, screen and controls all in one unit.  A hybrid game console is a combined form of home and handheld console. It has either a docking station or a wired connection that connects the console unit to a fixed power source and television unit.

Based on application, the global gaming console market has been segmented into gaming and non-gaming. The gaming consoles are integrated with multiple features that offers both gaming and non-gaming or entertainment console. The rise of gaming consoles integrated with extensive content applications such as Netflix, YouTube, Amazon Prime Video and others are included in the non-gaming application. The development of controller-free gaming console is anticipated to drive the gaming application for the gaming console market.

Based on end user, the global gaming console market has been segmented into residential and commercial. The residential sector is expected to boost the growth of the market owing to the rising need for gaming accessories, 3D gaming headsets, integrated mic, gaming mouse, game-enabled television and others. The commercial sector is also anticipated to grow owing to the growing demand of cloud gaming services. These services store a huge amount of gaming data along with improved security methods.

Competitive Analysis

The global Gaming Console market is characterized by the presence of several regional and local providers. Some of the key players in the market are Sony Corporation (Japan), Microsoft Corporation (US), Nintendo Co., Ltd. (Japan), Logitech Inc. (Switzerland), Valve Corporation (US), NVIDIA Corporation (US), PlayJam (UK), BlueStacks (US), OUYA Inc. (US), Sega (Japan) and Atari (US).

Regional Analysis

The regional analysis for the global Gaming Console market has been done for North America, Europe, Asia-Pacific, and the Middle East & Africa, and South America. The market in Asia Pacific accounted for the largest market share in 2020, and it is expected to register strong growth during the forecast period. However, the North America area is experiencing tremendous growth due to growing adoption of modern technologies such as AR-VR platform, cloud services, Bluetooth, 3D technology and others. The major North American countries are technologically advanced and provide significant investment and income potential.