Sony Corporation, Microsoft Corporation, Nintendo Co., Ltd, Logitech Inc., and Valve Corporation, among others, are significant players in the global gaming console market.
The global gaming console market is expected to grow at a CAGR of about 9% in the forecast period of 2022-2027. As per the analysis by Expert Market Research, the market is expected to be driven by increasing demand for home consoles.
With the growing number of players, the gaming console market is experiencing healthy growth. Advancements and breakthroughs in technology, such as improved audio-visual systems, are also driving worldwide demand for gaming consoles. The growing disposable incomes and the rising awareness regarding the benefits of gaming consoles are fuelling the market growth. Various leading companies are increasingly launching innovative and exclusive games while deploying innovative technologies such as AR and VR to offer a more immersive gaming experience. Moreover, the increasing cost-effectiveness of advanced television sets and displays is expected to bolster the gaming experience of consumers and surge the demand for gaming consoles.
In September 2020, Sony Corporation announced the launch of PS5, which was expected to outperform its predecessor, PS4, in terms of performance, design, and functionality. The new PlayStation can alter the controller's design to improve the gaming experience. Meanwhile, in November 2020, Microsoft Corporation also launched its new Xbox series S/X system as a direct competition to Sony's PS5. Such launches of innovative gaming consoles are driving the market growth.
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Sony Group Corporation is a global firm based in Minato, Tokyo. Its major segments include entertainment technology, game and network services, financial services, sensing and imaging solutions, and music, among others. In FY 2021, its consolidating revenue and operation sales reached JPY 9,921,500 million, with an employee base of about 108,900 people.
|Headquarters:||Washington, United States|
Microsoft Corporation is a global technology corporation that sells and manufactures consumer electronics, computer software, personal computers, and associated services. Some of its leading products include the Microsoft Office suite, the Internet Explorer and Edge web browsers, and the Microsoft Windows operating system family, among others. It boasts of an employee countdown of 221,000 people across the globe. In 2021, the company’s revenue was USD 168 billion, and its operating income grew by 32%. In March 2022, it acquired Nuance.
Nintendo Co., Ltd is a multinational Japanese consumer electronics and video game business. The company aims to develop unique entertainment for people of all ages. Some of its most popular franchises across the globe include Donkey Kong™, Pokémon™, and Mario™, among others. Its most famous systems for video games are the Super Nintendo Entertainment System, the Game Boy, the Nintendo DS, the Wii, and the Nintendo Switch. It employs 6,547 people and has a capital stock of 10,065,400,000 yen. Globally, it has sold above 800 million hardware units as well as over 5.1 billion games.
Logitech International S.A. is a Swiss company that offers products in the music, gaming, computing, video, and streaming segments. Some of its leading brands include Logitech G, Streamlabs, ASTRO Gaming, and Ultimate Ears, among others. It also sells keyboards, mouse, tablet attachments, cameras, Bluetooth speakers, and universal remote controls, among other items. In August 2022, Logitech G partnered with Tencent Games for supporting advancements in handheld cloud gaming solutions.
|Headquarters:||Washington, United States|
Valve Corporation, formerly known as Valve Software, is a Bellevue, Washington-based video game business that is involved in development, publishing, and digital distribution. It is the creator of various popular games like Counter-Strike, Half-Life, Team Fortress, Portal, Left 4 Dead, and the Dota game series. Steam, its digital content distribution channel, offers 30,000 games.
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