What is the global market size of Gaming Console Market?

The Global Gaming Console Market was valued at USD 53.98 Billion in 2021, and it is expected to reach a value of USD 97.85 Billion by 2028, at a CAGR of 8.87 % over the forecast period (2022-2028). Read More

Gaming Console Market Size, Share, Growth Analysis, By Type(Home Consoles, Handheld Console (Portable, Non-Portable)), By End-use(Residential, Commercial), By Application(Gaming, Non-Gaming), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45K2017 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 88 | Figures: 76

Gaming Console Market News

In May 2022, Sony announced launch of PlayStation Plus in India
In May 2022, Logitech Launches MX Mechanical, MX Mechanical Mini Keyboards and MX Master 3S Mouse
In January 2022, Sony Group to announced launch of Mobility Company
In May 2022, Sony announced launch of PlayStation Plus in India
In November 2021, Nintendo is planning to launch its next console that will succeed its extremely popular Nintendo Switch. The company is continuously working on its console’s design and concept and this is referred to as “20xx next-gen device”.
In April 2021, Sony Corporation launched PlayStation 5 console in China. This disc version of PS5 is retailed at USD 602. This is expected to compete with Nintendo Switch which was introduced in China in 2019.
In February 2021, Valve announced the launch of powerful handheld gaming console Steam Deck. It is a compact PC console that runs on custom SteamOS. This gaming console is anticipated to be powerful than its rival Nintendo Switch.

Gaming Console Market Report Snapshots

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Gaming Console Market size was valued at USD 22.9 billion in 2019 and is poised to grow from USD 24.1 billion in 2023 to USD 33.8 billion by 2031, growing at a CAGR of 5% in the forecast period (2024-2031).

Major Gaming Console Market players such as Sony Corporation, Microsoft Corporation, and Nintendo Co., Ltd are constantly innovating in order to provide advanced Gaming Console. Moreover, they are increasing their R&D investment as well as their interest in technological adoption, strategic acquisition, and collaboration in order to design and develop modern humanoid Gaming Console. Furthermore, to sustain their Gaming Console Market position, key companies have implemented organic and inorganic growth strategies such as new robot launches and long-term contracts with airport authorities. 'Sony Corporation', 'Microsoft Corporation ', 'Nintendo Co., Ltd.', 'Logitech Inc.', 'Sega Corporation', 'Atari SA', 'NVIDIA Corporation', 'Mad Catz Interactive Inc.', 'Turtle Beach Corporation', 'Hyperkin Inc.', 'Razer Inc.', 'Ouya Inc.', 'Amazon.com Inc.', 'OnLive Inc.', 'GameStick', 'Alibaba Group Holding Limited', 'ZOTAC International (MCO) Ltd.', 'Valve Corporation', 'Google LLC', 'Xiaomi Corporation'

Rising demand for game consoles based on advanced wireless technologies such as Bluetooth 5.0, Wi-Fi, and others will drive Gaming Console Market growth. To provide an enhanced user experience, key players such as Sony Corporation and others are offering game consoles based on wireless technologies. Furthermore, these advanced consoles would assist users in improving their overall game-play experience and eliminating the need for wired accessories.

The majority of industry players are making the transition from standard-definition television (SDTV) and high-definition television (HDTV) to advanced ultra-high-definition television (UHDTV) and full-high-definition television (FHDTV) (FHDTV). 4K, DCI 4K, and 8K display resolutions are instances of ultra-high-definition resolution. Key Gaming Console Market players are developing gaming consoles with UHDTV and FHDTV display resolution capabilities.

Asia Pacific is expected to have the highest Gaming Console Market share during the forecast period. The presence of key players such as Sony Corporation, Nintendo Co. Ltd, and others in the region has attributed to the region's growth. Other important factors contributing to this growth include the number of active gamers in countries such as China, South Korea, Japan, India, and others, which is nearly five times that of North America. Furthermore, China is expected to have a significant Gaming Console Market share during the forecast period.

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Gaming Console Market Size, Share, Growth Analysis, By Type(Home Consoles, Handheld Console (Portable, Non-Portable)), By End-use(Residential, Commercial), By Application(Gaming, Non-Gaming), By Region - Industry Forecast 2024-2031

Gaming Console Market News

Gaming Console Market Report Snapshots

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