Gaming Console Market Size & Share 2021 to 2027
Market Size by Type (Home Console, Handheld Console [Portable, Non-portable]), by Application (Gaming, Non-gaming), by End Use (Residential, Commercial) & Forecast.
Report ID: GMI5151
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Published Date: November 2021
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Report Format: PDF
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Authors:
Avinash Singh, Sunita Singh
Gaming Console Market Size
Gaming Console Market size exceeded USD 20 billion in 2020 and is projected to grow at over 8% CAGR during 2021 to 2027. The global industry shipments are estimated to surpass 90 million units by 2027.
The global market is witnessing rapid expansion due to the introduction of innovative audio-visual technologies. The sector is showcasing technological breakthroughs and innovation in various audio-visual devices owing to which the gaming industry is introducing robust gaming consoles & accessories.
Companies operating in the gaming console market are shifting toward Ultra-High-Definition TV (UDHDTV) and Full High-Definition TV (FHDTV) to support various resolutions including 4K, DCI 4K, and 8K displays. Industry leaders are introducing innovative gaming consoles that are compatible with such resolution capabilities.
The gaming industry registered an increase in the number of league contests for various e-sports titles and virtualized versions of sports, resulting in a rise in the number of users as virtual zones helped gamers to interact, engage & compete. The pandemic accelerated customer acquisition and engagement, supporting the overall growth.
Gaming Console Market Analysis
The U.S. home gaming console market is poised to showcase 8% growth rate through 2027 led by its ability to provide users a better gaming experience. The segment growth is impelled by various features including online multiplayer gaming experience and cloud support.
The motion-sensing capabilities of home gaming consoles provide a dynamic gaming experience to various end-users, aiding the industry expansion. The U.S. market is observing a high demand for gaming consoles due to the availability of enhanced updates/options, a wide range of selection choices, and robust product developments.
The gaming console market in South Korea is expected to attain 10% gains from 2021 to 2027 propelled by the high demand for content integration with non-gaming consoles. Multi-functionality gaming consoles are used to browse various applications, which is aiding the product demand. The launch of advanced gaming consoles based on both gaming and non-gaming applications will help the market expansion.
The residential segment captured more than 60% of the market share in 2020 on account of the high availability of gaming console controllers and accessories. Various market players, such as Razer Inc., Microsoft Corporation, and Sony Corporation, are offering advanced accessories including headsets, charging docks for controllers, gaming mouse, rechargeable battery packs, full-size racing wheels with pedals, curved monitors, keyboards, and microphones. These offerings increase comfort and offer a dynamic gaming experience. The market is witnessing high growth credited to the introduction of smart TVs that offer optimized picture & sound, convenient connection, and low input lag.
The gaming console market in Europe accounted for nearly 33.7% of the revenue share in 2020. The easy availability of 3D gaming hardware and software in the region offers a competitive edge. New features and the adoption of modern technologies including multi-screen displays, motion sensors, and intelligent connectivity that give players a more real-time and engaging game experience are propelling the development of the 3D gaming consoles.
Gaming Console Market Share
Key companies include
Eminent leaders are developing new gaming consoles with advanced technology-based accessories to enable a high-quality and low latency gaming experience. These developments help in fast charging for minimum gaming downtime, reducing unwanted background noise, and improving frequency separation.
This market research report on gaming console includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipments in Million Units from 2017 to 2027 for the following segments:
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Market, By Type
Market, By Application
Market, By End-use
The above information has been provided for the following regions and countries:
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
Trade publications
Security & defense sector journals and trade press
Industry databases
Proprietary and third-party market databases
Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →