Report Code: A08062 | Nov 2023 | Pages: NA | ||
Tables: NA | Charts: NA |
|
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Videogame Console Market
Request Now !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.Â
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.Â
COVID-19 Scenario Analysis:Â
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.Â
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 Benefits of the Report:
Questions Answered in the Videogame Console Market Research Report:
Videogame Console Market Report Highlights
Aspects | Details |
---|---|
By Type |
|
By Products |
|
By Distribution Channels |
|
By Region |
|
Key Market Players | BlueStacks, Valve Corp., Microsoft, Mad Catz, Nvidia Corp., Nintendo Co. Ltd., Sony, PlayJam, OUYA Inc |
Start reading.
This Report and over 68,439+ more Reports, Available with Avenue Library. T&C*.
Enterprise
License/PDF
Library
Membership
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers