Global Handheld Game Console Market 2024-2031

Global Handheld Game Console Market 2024-2031

Global Handheld Game Console Market Size, Share & Trends Analysis Report by Product (PlayStation, Xbox, Razer Switchblade, Nintendo Switch, and Others (Steam Deck, ROG Ally), by Platform (iOS, Android, Windows, and Linux), and by End-Users (Adults and Children), Forecast Period (2023-2030)

The global Handheld Game Console market is anticipated to grow at a CAGR of 8.2% during the forecast period (2023-2030) owing to the technological advancements, increasing disposable incomes, changing consumer preferences and the rising availability of various gaming options. The ability to play games online as well as the anywhere without the need for an Internet connection is one of the major benefits of portable gaming consoles. Additionally, the fact that these consoles are lighter and more compact than home video game consoles has helped the market expand further. Technological developments have been a major growth driver in the market. The hardware and software technologies utilized in game consoles have undergone continuous innovation and improvement over time by the console manufacturers. The most notable technical development in game consoles has been the graphics technology; graphics quality has significantly improved from 8-bit graphics in early systems to 4K resolutions in contemporary consoles.

Segmental Outlook

The global Handheld Game Console market is segmented by the product, platform, and end-users. Based on the product, the market is sub-segmented into playstation, xbox, razer switchblade, nintendo switch, and others. Based on the platform, the market is sub-segmented into iOS, android, windows, and linux. Further, based on end-users, the market is sub-segmented into adults and children. Among the end-users, the adults sub-segment is anticipated to hold a considerable share of the market.Around 88% of those aged 16-24 were playing games on an electronic device and most 16–24-year-old gamers played online, either against or alongside other players.

The Nintendo Switch Sub-Segment is Anticipated to Hold a Considerable Share of the Global Handheld Game Console Market

Among the product, the Nintendo switch sub-segment is expected to hold a considerable share of the global handheld game console market. Among its rivals, the Nintendo Switch is unique in that it is a hybrid device that can be used for both docked gameplay on an external screen and portable gaming. Its hybrid features make it appealing to a broad range of users, and both first-party and third-party developers offer it a lot of support. It may function as a portable handheld device or as a conventional home console that is linked to a monitor or television. This allows the Switch to target two markets simultaneously. Additionally, the console is a convenient gadget to travel with due to its adaptability. Nintendo new developed product such as the Switch Lite offering users even more choices. The Switch Lite can only be used as a portable device it is not compatible with external monitors, unlike the original Switch. The benefit of the Switch Lite is that it less costly than the base model Switch, so for players who do not intend to use their device as a home console. Two Joy-Con controllers that are included with the system enable some creative gameplay. A Joy-Con is used to throw Poke Balls and capture Pokemon in the video games Let's Go, Pikachu! and Let's Go, Eevee!. This makes it feel more realistic than merely pressing a button

Regional Outlook

The global Handheld Game Console market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, North America is anticipated to hold a prominent share of the market across the globe, owing to technological advancement, increasing disposable incomes, presence of larger consumer base and major market players in the region. According to the Entertainment Software Association, 75% of Americans have at least one gamer in their household, and the average age of a gamer in the US is 33 years old. The demand for gaming consoles and associated items has increased significantly due to the rising customer base, propelling the regional industry.

The Asia-Pacific Region is Expected to Grow at a Significant CAGR in the Global Handheld Game Console Market

Among all regions, the Asia-Pacific regions is anticipated to grow at a considerable CAGR over the forecast period owing to the due to the presence of major market players, increasing disposable income of the population and rapidly growing young gaming population in this region particularly in countries, such as China, Japan, South Korea, and India. Major players such as Sony dominates the market with its PlayStation, which is popular in countries, such as Japan and South Korea, where gaming is a major part of the culture. As the handheld game gaming industry continues to expand, Japan’s will be the prime location to capture these growth opportunities. Console games are particularly crucial in Japan compared to other Asian digital gaming markets, as the headquarters of major console manufacturers (Sony, Nintendo, and Sega) are in Japan.

Market Players Outlook

The major companies serving the Handheld Game Console market include Adobe Systems Incorporated, Google Inc. (DoubleClick), AOL Inc. (Verizon Communications Inc.), Yahoo Inc., Beeswax, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in August 2022, Logitech G and Tencent Games announced a partnership to bring a cloud gaming handheld to market which will combine Logitech G’s expertise in hardware with Tencent Games’ expertise in software services. To enable players to play AAA games when they are away from their console or PC, the new gadget will support a variety of cloud gaming services. Both firms are collaborating with the Xbox Cloud Gaming and NVIDIA GeForce NOW teams.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global handheld game console market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.