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PlayStation network is a digital medium for gaming entertainment. The PlayStation market is the online network of gaming players by which they can interact and connect while playing games. PlayStation network's services are dedicated to an online marketplace (PlayStation Store), a premium subscription service for enhanced gaming and social features (PlayStation Plus), movie streaming, rentals and purchases (PlayStation Video), music streaming (PlayStation Music, powered by Spotify) and a cloud gaming service (PlayStation Now).Â
Impact of COVID-19 on Play Station Network Market
Numerous factor such as increased demand for the mobile games, rising demand for gaming consoles, enhanced technical advancement, changing people preferences, rise in the disposable incomes and convenience in the play station networks are some of the key driving factors for the growth of the market. However, high-cost requirements for the consoles and lack of gaming interest is expected to hinder the growth of the market. Furthermore, application of 3D in games, integration of augmented and virtual reality, adoption of high-definition image sensors are further expected to boost opportunities for the market. Â
The PlayStation networks offers the services such as online gaming, maintaining a universal gaming profile, detailed collection of in-game accomplishments, able to send text/video messages to friends and form parties to play online games are some of the attractive features offered by the PlayStation networks, which increases the interest and attraction towards the online games. The increased usage of mobile systems has certainly help to switch over the online games, as these games provides lucrative experience in addition to the facility to play with the friends and thus this digital adoption is certainly driving the growth of the network.Â
The PlayStation network requires a complete setup and particular devices to enhance the experience, which usually cost a large amount. In addition to this, additional high speed internet is also required to play these games and which will further increase the operational cost and thus due to this, it may hinder the growth of the market.Â
The application of 3dimension helps to remove controller from the gaming option, which is one of the major advantages. It is expected that the automatic modern control would be able to enhance all the current characters and overcome the present limitations in the 5th generation of gaming consoles. In addition to this, it also provides a remote-control feature to watch other games while playing on the device and it also offers various sharing tools. The game is expected to be offered at low price and available online thus making it more interesting. Thus, these availability and less pricing competition is certainly expected to boost opportunities for the market in the upcoming years.Â
Key benefits of the report:
Play Station Network Market Report Highlights
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Key Market Players | Sony Entertainment, 2K Games, Ubisoft, Zen Studios, PlayStation, Bethesda, Tecmo Koei, CD Projekt, Curve Digital, Electronic Arts, Warner Bros Interactive. |
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