Global Gaming Console Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Gaming Console Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A game console is a electronic device that outputs visual image to display a video game.

Market Overview:

The latest research study on the global Gaming Console market finds that the global Gaming Console market reached a value of USD 31778.76 million in 2022. It’s expected that the market will achieve USD 42757.21 million by 2028, exhibiting a CAGR of 5.07% during the forecast period.

Drivers

Compared with PC, the game console is cheap, high in standardization, almost unnecessary for system maintenance, and it is a cheap and worry-free choice for players. Compared with mobile phones, the host computer has significantly stronger computing power, higher operation complexity, and can play on the big screen, which can provide a better game experience. Especially for markets with living room culture such as the United States and Western Europe, the host is the only game platform suitable for parties and family scenes. For developers, the host platform has almost no piracy, uniform hardware standards and strong spending power of players, which is most conducive to the maximization of commercial interests.

For the game content side, the game console platform has irreplaceable significance. First of all, it is difficult to crack and there is no piracy, thus safeguarding the interests of content parties to the maximum extent. Secondly, it adopts the buyout system, and the initial payment is very large, which improves the cash flow of developers and publishers. Thirdly, its hardware is standardized, which is conducive to optimization. Unlike PC platform, there are countless kinds of hardware collocation. Finally, many game consoles are sold at a loss in the early selling stage, which is equivalent to the host manufacturers subsidizing players, which can build a huge group of players-the ultimate beneficiary is still the content side. Game manufacturers and content providers are well aware that the portability, leisure and social attributes of the host are worse than those of mobile phones; It is also difficult for the host to fully turn to the in-purchase payment mode of mobile games. To attract players, developers and publishers must invest more in the technical quality of games. Ray tracing technology is a life-saving straw: it can produce highly realistic light and shadow effects, give the picture a higher sense of reality, and make the game completely cinematic. Sony PS5 has announced its support for ray tracing technology. In the next generation, only the breakthrough technological progress can give the mainframe vitality. Since the seventh generation, the research and development of console games has become a capital-intensive and manpower-intensive arms race. The development cost of GTA5 reached $137 million, while that of fistful of dollars 2 took 1,185 developers, and the total cost was close to $400 million. Only the shocking pictures and cinematic narrative mode are conducive to attracting more players and stimulating the growth of the game console market.

Region Overview:

Europe had the highest growth rate of all regions.

Company Overview:

Sony Corporation is one of the major players operating in the Gaming Console market, holding a share of 41.05% in 2022.

Microsoft to acquire Activision Blizzard to bring the joy and community of gaming to everyone, across every device January 18, 2022 With three billion people actively playing games today, and fueled by a new generation steeped in the joys of interactive entertainment, gaming is now the largest and fastest-growing form of entertainment. Today, Microsoft Corp. (Nasdaq: MSFT) announced plans to acquire Activision Blizzard Inc. (Nasdaq:ATVI), a leader in game development and interactive entertainment content publisher. This acquisition will accelerate the growth in Microsoft’s gaming business across mobile, PC, console and cloud and will provide building blocks for the metaverse.

Microsoft will acquire Activision Blizzard for $95.00 per share, in an all-cash transaction valued at $68.7 billion, inclusive of Activision Blizzard’s net cash. When the transaction closes, Microsoft will become the world’s third-largest gaming company by revenue, behind Tencent and Sony. The planned acquisition includes iconic franchises from the Activision, Blizzard and King studios like “Warcraft,” “Diablo,” “Overwatch,” “Call of Duty” and “Candy Crush,” in addition to global eSports activities through Major League Gaming. The company has studios around the world with nearly 10,000 employees.

Segmentation Overview:

Among different product types, Portable segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Household Use segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Gaming Console market covered in Chapter 3:

Nintendo Co., Ltd
Atari
Microsoft Corporation
Sony Corporation

In Chapter 4 and Chapter 14.2, on the basis of types, the Gaming Console market from 2018 to 2029 is primarily split into:

Portable
Non-Portable

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Gaming Console market from 2018 to 2029 covers:

Household Use
Commercial Use

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)