Technological Advancements and Growing Popularity of Video Games in Young Adults is Driving the Home Console Market
Globally, the home console market is expected to grow with a CAGR of 4.2% during the forecast period from 2019 to 2027. The growth of the market is driven by increasing technological advancement in the gaming consoles. The integration of the advance audio visual systems has led to the development of myriad new avenues for the growth of the consoles market. Furthermore, the advent of the augmented reality and virtual reality is also serving as a major driver for the growth of the console market across the globe.
The increasing competition among the market players is also acting as major force propelling the growth of the home console market. As the competition among the market players is rising, the organizations are investing heavily in the research and development activities and to gain an edge over competitors. The players are constantly launching new products with new and advance features to attract the customer. This is accelerating the demand for the home console market across the globe. However, the emergence of the cloud gaming and game streaming service is presenting significant threat to the growth of the consoles market.
Market Synopsis
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PC Game Console is Dominating the Home Console Market
The home console market is segmented based on the product into TV game console, PC game console, handheld console and others. PC game console accounted for more than 35% share in the home console market in 2018. The widespread adoption of the PC gaming across the globe is acting as a major force driving the demand for the PC console. Furthermore, the relatively low cost of the PC game console as compared to the TV game console is supporting the growth of the PC consoles market.
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Asia Pacific is Leading the Home Console Market
Asia Pacific led the home console market with over 30% share in the revenue in 2018. The market is driven by the large scale adoption of the gaming across the region. Asia Pacific accounts for more than 40% of the gaming population across the globe. South Korea and China are one of the major countries in terms of number of professional gamers and total number of gamers worldwide. However, the growing adoption of the mobile gaming is hindering the growth of the home console market in the region.
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The prominent players in the home console market are Amstrad/Sky, Apple/Bandai, Atari, Coleco, INTV Corporation, Logitech, Mad Catz, Magnavox, Microsoft Corporation, NEC Home Electronics, Nintendo Co Ltd, OUYA, Sega and Sony Computers Entertainment Inc.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The home console market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global Home Console market based on product, age group and geography. Key segments covered in the report are as follows:
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Billion |
| Segmentation |
Product Segment (2017–2027; US$ Bn)
• TV Gaming Console
• PC Gaming Console
• Handheld Console
• Others
|
|
Age Group Segment (2017–2027; US$ Bn)
• • 12-18 Years Old
• 19-23 Years Old
• 24-30 Years Old
• 31-40 Years Old
• 41-50 Years Old
• >50 Years Old
|
|
Geography Segment (2017–2027; US$ Bn)
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)
|
Key questions answered in this report
- What was the market size of home console in 2018 and forecast up to 2027?
- Which is the largest regional market for home console?
- What are the major trends followed in home console market across different regions?
- Who are the key companies in the home console market?
- What are the key strategies adopted by the leading home console companies in market?
Unique data points of this report
- Statistics on home console and spending worldwide
- Recent trends across different regions in terms of adoption of home console across age groups
- Notable developments going on in the industry
- Attractive investment proposition for segments as well as geography
- Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
