Dublin, Aug. 12, 2024 (GLOBE NEWSWIRE) -- The "Global Gaming Console Market by Component (Console Unit, Controller, External Storage), Type (Handheld Game Console, Home Video Game Console, Hybrid Video Game Console), Distribution Channel, Application - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The latest findings on the global gaming console market project an upward trajectory, with expectations set for the market value to ascend from USD 29.69 billion in 2023 to an estimated USD 57.56 billion by 2030, growing at a CAGR of 9.92%.
Advancements in technology offering enhanced graphics, processing power, and improved user interfaces have significantly contributed to the growth of the gaming console market. The sector has also seen a rise in online multiplayer platforms and digital distribution, which have prolonged the product lifecycle of gaming consoles and established recurrent revenue sources.
Market Diversification and Consumer Reach
Consoles have transcended simple gaming tools, becoming multifaceted entertainment devices, thus broadening their appeal across a variety of demographic segments. However, the market faces limitations due to the increasing popularity of mobile and PC gaming options.
Regional Market Dynamics
The American market, particularly the United States and Canada, continues to lead in the penetration of gaming consoles in households. European countries are embracing sustainable practices in manufacturing, while the MEA region exhibits promising growth tied to a younger demographic and growing internet penetration. Asia Pacific stands out for its heterogeneity and potential, especially in countries like China, Japan, and India.
Competitive Landscape and Market Share Analysis
Analysis of market share provides a detailed understanding of the competitive nature of the gaming console market, assisting companies in evaluating their performance against others and enabling strategies to succeed in a competitive environment.
Recent Industry Developments
Tencent’s foray into console gaming, Microsoft’s partnership with Sony to keep Call of Duty on PlayStation, and Asus’s launch of the ROG Ally handheld gaming console in India are some of the pivotal developments, painting a dynamic picture of the market’s evolution.
This comprehensive market overview provides valuable insights into the growth patterns, consumer behaviors, and technological innovations shaping the gaming console industry's future. With detailed regional analysis and evaluation of market dynamics, companies within the gaming sector gain the necessary data to inform strategic plans and respond to emerging trends.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 187 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $32.61 Billion |
| Forecasted Market Value (USD) by 2030 | $57.56 Billion |
| Compound Annual Growth Rate | 9.9% |
| Regions Covered | Global |
Companies Featured
- Activision Blizzard
- Atari Inc.
- Capcom Co. Ltd.
- Cooler Master Co. Ltd.
- Corsair Components Inc.
- Dell Technologies
- Gameloft SE
- Hyperkin Inc.
- HyperX
- Logitech Inc.
- Mad Catz Global Ltd.
- Microsoft Corp.
- Nintendo Co. Ltd.
- NVIDIA Corporation
- Ouya Inc. (Subsidiary of Razer)
- PlayJam
- Redragon
- Republic of Games
- Rockstar Games Inc.
- Sega Holdings Co. Ltd.
- Sony Corp.
- SteelSeries
- Ubisoft Entertainment SA
- Valve Corp.
For more information about this report visit https://www.researchandmarkets.com/r/fcynxk
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