Global Gaming Console Market Forecast to 2028
Global Gaming Console Market, Emergen Research's most recent market research report, includes an estimated market size and share, current industry trends, global market growth rates, main market competitors, key drivers and opportunities, challenges, and product segmentation. Cost structure, market size, the level of competition, a product's features and portfolio, and business profiles.
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 growth of gaming culture, high demand for video gaming, and rise in demand for advanced wireless technologies such as Bluetooth 5.0 and W-Fi. Gaming consoles are registering increasing popularity due to features such as High Definition (HD) display and complex graphics.
Today, more than 700 million people use a dedicated console to play video games, and by 2021, the gaming console business is expected to generate USD 45 billion in sales. And throughout time, the ways in which businesses in the sector generate revenue have changed significantly. Similar to how Apple has pushed services in recent years, both Microsoft and Sony are making a clear push into software and subscriptions with the introduction of new consoles. They hope to benefit from the rise in gaming demand brought on by individuals spending more time at home as a result of the global coronavirus pandemic.
Widely popular gaming console producers like PlayStation has disclosed its aim for expanding its 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 PS5 will outperform the immensely popular PS4.
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Competitive Landscape:
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
Key Companies Profiled in the Report:
Valve Corporation, Nvidia Corporation, Microsoft Corporation, PlayJam, Nintendo Co. Ltd., BlueStacks, OUYA Inc., Sony Computers Entertainment Inc., Sega, Atari
Market Dynamics:
The report offers insightful information about the market dynamics of the Gaming Console market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Gaming Console market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Gaming Console market.
Radical Highlights of the Gaming Console Market Report:
- Comprehensive overview of the Gaming Console market along with analysis of the changing dynamics of the market
- Growth Assessment of various market segments throughout the forecast period
- Regional and global analysis of the market players, including their market share and global position
- Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
- Impact of the technological developments and RD advancements on the Gaming Console market
- Information about profit-making strategies and developmental strategies of major companies and manufacturers
- Insightful information for the new entrants willing to enter the market
- Details and insights about business expansion strategies, product launches, and other collaborations
- The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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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.
Gaming Console Market Segmentation:
Market Overview:
The report bifurcates the Gaming Console market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
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
Regional Segmentation;
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)
In conclusion, the Gaming Console Market report is an exhaustive database that will help readers formulate lucrative strategies. The Gaming Console Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
How will this Report Benefit you?
A 250-page report from Emergen Research includes 194 tables and 189 charts and graphics. Anyone in need of commercial, in-depth assessments for the global Gaming Console market, as well as comprehensive market segment analysis, can benefit from our new study. You can assess the whole regional and global market for Gaming Console with the aid of our recent study. To increase market share, obtain financial analysis of the whole market and its various segments. We think there are significant prospects in this industry for rapidly expanding energy storage technology. Look at how you may utilise the current and potential revenue-generating prospects in this sector. The research will also assist you in making better strategic decisions, enabling you to build growth strategies, strengthen competitor analysis, and increase business productivity.
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