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Allied Market Research

Videogame Console Market Type (Home Console, Handheld Game Console) Products (Xbox One, Wii U, PlayStation 4, Steam Machine, Leap TV, Others) Distribution Channels (Online Channel, Offline Channels) : Global Opportunity Analysis and Industry Forecast, 2020-2027

A08062
Pages: NA
Feb 2021 | 190 Views
 
Author(s) : NA
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Charts: NA
 

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A video game console is a device that displays a video game by outputting a visual image or video signal. It is essentially a console machine designed primarily for consumers to play video games, as opposed to home computers or arcade machines. Xbox One, Wii U, PlayStation 4, Steam Machine, Leap TV, and Retro N5 are a few examples of video game consoles. Over the past few years, the gaming console market has gone through several hardware changes. It is also expected that HDTVs with HDMI ports and inherent wireless connectivity, which can support external hard disks, will offer enriched customer experience. Console manufacturers are introducing new devices that are compatible with the latest specifications according to the gamers' demand while improving the gameplay experience. 

Therefore, owing to the great source of entertainment that the video games provide, the forecasters predict that the global video game console market is anticipated to grow exponentially during the forecast period. 

Market scope and structure analysis:

Report Metric

                                  Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value ($US)

  Segments covered

  Type, Product, Distribution Channel, and Region

  Regions covered

North America (U.S., and Canada), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)

  Companies covered

Sony, Microsoft, Nvidia Corp., Valve Corp., PlayJam, BlueStacks, Nintendo Co. Ltd., Mad Catz, and OUYA Inc.

 

COVID-19 Scenario Analysis: 

  • This industry faces huge decline due to disruption in trade with China.
  • Shutdown of all non-essential goods during COVID-19 also slows down this market. 
  • Consumer demand is shifting toward the essential food and safety items.
  • However, online sales platform is witnessing an increase in the demand for video games console because people sitting back at their homes are seeking for sources for their entertainment.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis:

Innovation and new technologies have significantly surged the demand for video game consoles in several audio-visual types of equipment. The increase in availability of high-end sound systems and displays give customers a rich and enhanced experience. New consoles with wireless connectivity and a growing number of gamers drive the growth of the gaming console market. Along with this, an increase in the availability and popularity of a multi-functional gaming console is the latest trend emerging on the market for gaming consoles. Several advantages offered by the multi-functional consoles, such as allowing gamers to download videos, browse the internet, listen to music and watch videos simultaneously while playing games, are expected to have a positive impact on market growth over the coming years. 

However, high-cost purchase and disk-cost associated with such consoles impede the market growth. Along with this, the introduction of new smartphones and tablets with the latest gaming application is expected to significantly hamper the growth of the industry. Also, shift in consumer trends to alternative platforms, including online games and mobile games, may create obstacles in the market growth over the next few years. Increase in piracy rates and unauthorized users gaining free access are few other factors hamper the revenue of the video game consoling market. Online and mobile games are available at a significantly low cost compared to expensive console disks, resulting in a decrease in the demand for a gaming console. Furthermore, the main challenge for manufacturers competing in this market is expected to be maintaining a balance between quality and price, along with incorporating the latest features into the game console.

Asia-Pacific and North America are holding majority of market share in terms of revenue in the global video game console market because of the increase in number of gamers in these areas. To cater to the requirement of customers, companies are focusing on developing advanced gaming console.

Key Segments Covered:

Segments

Sub-segments

  Type

  • Home Console
  • Handheld Game Console

  Products

  • Xbox One
  • Wii U
  • PlayStation 4
  • Steam Machine
  • Leap TV
  • Others

  Distribution Channels

  • Online Channel
  • Offline Channels

 

Key Benefits of the Report:

  • This study presents the analytical depiction of the videogame console Industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the videogame console market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global videogame console growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed videogame console market analysis based on competitive intensity and how the competition will take shape in the coming years. 

Questions Answered in the Videogame Console Market Research Report:

  • What are the leading market players active in the videogame console market?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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