Press Release
Press Release
The growth of the gaming console market can be attributed to an increase in the number of gaming enthusiasts and rapid technological innovations, such as advanced audio-visual systems. Growing disposable incomes and increasing consumer spending on entertainment and leisure activities are also supporting the market. The market also benefits from the population growth between the age of 15-25, as it is responsible for driving most of the demand and remains the target audience for leading brands. Gaming consoles offer a plethora of benefits, from downloading videos and audio to simultaneous internet browsing, music streaming, and video watching during gameplay.
The gaming console market is poised for growth, propelled by wireless connectivity advances and the emergence of smart games and virtual assistant applications. Major players are strategically investing in premium, high-performance consoles, shifting towards ultra-high-definition (UHDTV) and full-high-definition television (FHDTV) resolutions, including 4K and 8K. The market is bolstered by the introduction of gaming console accessories, such as 4K TVs and 3D audio headphones, alongside technologies like haptic vibration, Blu-ray, and wireless connectivity.
Some of the major players in the market are Sony Corporation (NYSE: SONY), Nintendo Co., and Microsoft Corporation. In October 2022, Sony Pictures Virtual Reality (SPVR) unveiled their eagerly awaited VR game, Ghostbusters: Rise of the Ghost Lord, set in the Ghostbusters universe. The game is slated for release on Meta Quest 2 and PlayStation VR2 in 2023. New artwork released provides players with a preview of the upcoming adventure.
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The major players in the gaming console market are Sony Corporation, Microsoft Corporation, Nintendo Co., Ltd., Logitech International SA, Atari, Inc., Meta Platforms Technologies, LLC, Samsung Electronics Co. Ltd., Valve Corporation, HTC Corporation, ASUSTEK Computer Inc., and Anbernic, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Platform |
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Breakup by End Use |
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Breakup by Distribution Channel |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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