Game Consoles Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Game Consoles Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : September, 2020 | Technology & Media | PPT format

Report Digest


The demand for game consoles is likely to grow by leaps and bounds in the future alongside rising proclivity for recreation. Moreover, the growing demand can also be attributed to influx of advanced and new game consoles offering audio-visual experiences, which is a key aspect attracting investments. Developers are offering game consoles with additional features and modalities for gaming enthusiasts, who seek beyond conventional features and seek for new ones.

Persistent innovations and developments in multiple products is likely to bolster adoption of game consoles in the future. Rising availability of game consoles offering rich audio quality with multi-dimensional video features is gaining high traction among customers for enhanced experiences. Moreover, game consoles having wireless interface and supporting external hard disks is also gaining traction among customers.

Game Consoles Market- Notable Highlights

Leading industry players featured in the game consoles market report include Sony Corporation, Nintendo, Hyperkin, Inc., NVIDIA Corporation, and Microsoft Corporation.

  • Nintendo Co. is planning to release a brand new version of its switch videogame console in 2019. Nintendo is coordinating with its game developers as well as suppliers vis-à-vis plans of miniaturizing the console and cutting down on multiple features to reduce prices. This is a part of the company’s strategy to become cost-competitive and tap into new customer segments.
  • In 2018, Microsoft launched a two year Xbox subscription plan that allows the gamers to pay for a console as well as two online streaming services with just one monthly fee, rather than purchasing hardware upfront. This was part of the company’s strategy to boost customer retention and repeat sales.

Demand for Game Consoles with Multi-Utility Features Gains Momentum

Surging popularity of multifunctional game consoles remains one of the pervasive trends in the game consoles market. Multifarious benefits associated with multifunctional game consoles, including video download feature, internet access, playing music while playing games, is likely to create favorable circumstances for adoption of multifunctional game consoles in the forthcoming years.

Multifunctional game consoles are witnessing excessive demand on account of rising preference for gaming enriched with entertainment, which has become increasingly popular among gamers.

Easy Access and Availability of Online Games to Inhibit Demand

High prices associated with game consoles in terms of purchasing cost and cost of disks might arrest long-term adoption of the same. With increasing permeation of smart phones & tables and overarching trend of online gaming, sales of game consoles might witness considerable hurdles. In addition, customer preferences in terms of convenience and affordability favors online gaming, which is a key factor likely to deter growth of game consoles market.

Another key challenge for game console developers is to maintain the right balance in terms of both price and quality, which can result in considerable losses for the manufactures vis-à-vis profitability. Drastic customer shift from hardware to software might pose major challenges for the developers of game consoles in the upcoming years.

Graphics- A Key Factor Influencing Customer Purchase Decisions 

The quality of graphics in case of game consoles continues to be a key aspect responsible for influencing purchase decisions of customers in the game console market. Graphics has remained a chief focus of customers in order to have one-of-a-kind experience while playing using game consoles. Avid gamers will continue to show marked preferences for game consoles offering the best graphics, encouraging manufacturers to invest in rich graphics.

Graphics are long famed for the deep-rooted influences they have on customers’ mindset and potential customers seek the best possible graphics quality from the game consoles they purchase, above all other factors of consideration. This, in turn, is encouraging market players to invest in high-end graphics for retaining long-term customer retention and repeat sales.

Game Consoles Market Segmentation

By Type

  • Home Console
  • Handheld Game Console

By Age Group

  • 0-22 Years
  • 23-32 Years
  • Above 33 Years

By Product

  • PlayStation
  • XBox
  • Wii
  • Others

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?