Gaming Console Market Forecast to 2028
The Global Gaming Console Market report examines historical and current data, as well as a thorough examination of market dynamics. The report also sheds light on the major market growth driving and restraining factors that are expected to influence market growth over the forecast period. The Global Gaming Console Market researches the market scenario to provide growth projections for the Gaming Console industry from 2021 to 2028. The report focuses on potential growth opportunities and constraints that industry leaders may face over the course of the forecast timeline. To assist readers in making decisions, the report pays special attention to emerging business components, niche sectors, product launches, and brand promotions that are taking place in the market.
The market for gaming consoles is anticipated to grow at a 5.1% CAGR from 2017 to 2028, reaching a value of USD 54.21 billion. The expansion of the gaming industry, the increasing demand for video games, and the rise in popularity of cutting-edge wireless technologies like Bluetooth 5.0 and W-Fi are some of the factors that are driving the global gaming console market's revenue growth. Due to features like High Definition (HD) displays and intricate graphics, gaming consoles are growing in popularity.
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 prioritised 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.
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The global Gaming Console market report employs an extremely extensive and perceptive process that analyzes statistical data relating to services and products offered in the market. The research study is a pivotal document in understanding the needs and wants of the clients. The report is comprised of significant data about the leading companies and their marketing strategies. The Gaming Console industry is witnessing an expansion and change of dynamics owing to the entry of several new players.
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.
Valve Corporation, Nvidia Corporation, Microsoft Corporation, PlayJam, Nintendo Co. Ltd., BlueStacks, OUYA Inc., Sony Computers Entertainment Inc., Sega, Atari
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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.
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
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The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.
Regional Analysis Covers:
- 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)
Furthermore, the report provides the analytical data in an organized format segmented into charts, tables, graphs, figures, and diagrams. This enables readers to understand the market scenario in an easy and beneficial manner. Moreover, the report aims to impart a prospective outlook and draw an informative conclusion to assist the reader in making lucrative business decisions. The report, in conclusion, provides a detailed analysis of the segments expected to dominate the market, the regional bifurcation, the estimated market size and share, and comprehensive SWOT analysis and Porter’s Five Forces Analysis.
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