Last Updated, Mar 9, 2022, 3:43 PM 7Newswire
Gaming Console Market Global Industry Size, Analysis, Trends, Development Strategy, Key Vendors, Future Prospects and Regional Forecast by 2028
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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.

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 prioritised 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.

The market intelligence study Gaming Console weighs upon its global standing in the forecast period from 2021 to 2028.  The study employs both primary and secondary research techniques to assess, interpret, segment as well as forecast the total revenue generated by the industry across different regions. To determine the size, share and development rate of the business, the research determines the performance across different product categories and geography. The study further offers detailed statistical analysis regarding key factors including the drivers, opportunities, challenges and restraints that have a substantial effect on the progress of the Gaming Console market.

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This research evaluates micro-markets and takes a closer look at the different growth trends, future prospects and regulations that will regulate the industry in the coming years. Researchers have also included some of the top performers in the sector to calculate their industry shares as well as core competencies. The research explains the technological developments in the sector along with upcoming areas of the industry that might potentially attract massive investments. The study further analyzes competitive developments including but not restricted to collaborations, joint ventures, investments, acquisitions and mergers.

Top Companies Operating in the Gaming Console Market and Profiled in the Report are:

  • Microsoft Corporation, Valve Corporation, Nvidia Corporation, PlayJam, Nintendo Co. Ltd., BlueStacks, OUYA Inc., Sony Computers Entertainment Inc., Sega, and Atari.

Regional analysis of the Gaming Console market includes analysis of the production and consumption ratio, supply and demand dynamics, regional trends and growth drivers, growth prospects, presence of key manufacturers and vendors, and market size and share in key regions such as North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. The report further offers key insights into country wise analysis and major factors driving revenue growth of each regional market.

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.

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The research weighs upon various problems and solutions related to the import and export status, supply chain management, channel distribution, demand and supply and gross margin that often bother expansive as well as new entrants A thorough analysis of market players dominating the Gaming Console market and their winning strategies to remain competitive and ahead in the market adds granularity to the intelligence report. The definitive study explores the recent events in the industry from acquisition and mergers, product launches, technology innovation and product pipeline to underline the future potential or prospects of the business.

Emergen Research has segmented the global gaming console market on the basis of platform, modality, application, end-use, and region:

  • 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
  • End-use Channel Outlook (Revenue, USD Billion; 2018–2028)
    • Residential
    • Commercial
    • Others

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The study relies heavily on both qualitative and quantitative to generate, interpret and analyze raw data about the target market, product or services offered and prominent market players operating in the Gaming Console market for the forecast period, The new intelligence study further digs deep to extract all data pertaining to aspects such as production capability, spending power, customer preference and potential customers to offer usable business information. This report can be considered as a cautious assessment of the target customers, their requirements, geography generating maximum sales and potential distribution channel.

Key Benefits of Buying the Global Gaming Console Report:

  • Comprehensive analysis of the changing competitive landscape
  • Assists in decision making processes for the businesses along with detailed strategic planning methodologies
  • The report offers an 8-year forecast and assessment of the Global Gaming Console Market
  • Helps in understanding the key product segments and their estimated growth rate
  • In-depth analysis of market drivers, restraints, trends, and opportunities
  • Comprehensive regional analysis of the Global Gaming Console Market
  • Extensive profiling of the key stakeholders of the business sphere
  • Detailed analysis of the factors influencing the growth of the Global Gaming Console Market

Thank you for reading our report. The report can be customized as per requirement. Please get in touch with us for further inquiry and we will ensure you get the report best suited for your needs.

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