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Gaming Console Market Size By Type (Home Console, Handheld Console [Portable, Non-portable]), By Application (Gaming, Non-gaming), By End-use (Residential, Commercial), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027

  • Report ID: GMI5151
  • Published Date: Nov 2021
  • Report Format: PDF

Industry Trends

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.
 

Gaming Console Market Overview

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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.
 

Increasing demand for home gaming consoles in the U.S.

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.
 

Growing penetration of content integration consoles in South Korea

Gaming Console Market Size

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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.
 

Rising popularity of gaming accessories & smart televisions for residential purposes

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.
 

Increase in demand for 3D gaming in Europe

Europe Gaming Console Market

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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.
 

Development of technologically advanced gaming consoles with accessories

Key companies include Corsair Components Inc., Logitech, Mad Catz Global Limited, Microsoft Corporation, NEC Corporation, Nintendo, NVIDIA Corporation, Panasonic Corporation, Razer Inc., Samsung Electronics Corporation, Sega Corporation, Sony Corporation, and Valve Corporation.
 

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:

Market, By Type

  • Home console
  • Handheld console
    • Portable
    • Non-portable

Market, By Application

  • Gaming
  • Non-gaming

Market, By End-use

  • Residential
  • Commercial

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Singapore
    • Australia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • MEA
    • GCC
    • South Africa

 

Authors: Preeti Wadhwani, Saloni Gankar

Frequently Asked Questions (FAQ) :

The market size of gaming consoles will expand at 8% CAGR to reach about USD 35 billion by 2027, says this GMI report.

Home gaming consoles segment in the U.S. will exhibit a growth rate of 8% through 2027 driven by the benefit of multiple features such as cloud support and online multiplayer gaming experience.

South Korea gaming consoles industry is anticipated to register 10% gains up to 2027, according to this report.

Europe region held nearly 33.7% of the revenue share in 2020 and will grow with the easy availability of 3D gaming software and hardware.

Major companies across the industry include Nintendo, Corsair Components, Inc., Microsoft Corporation, Sony Corporation, Logitech, Panasonic Corporation, Mad Catz Global Limited, Sony Corporation, NVIDIA Corporation, and others.

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 11
  • Tables & Figures: 559
  • Countries covered: 19
  • Pages: 350

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