The Global Gaming Console Market Projected To Reach Higher Growth Rate By 2028 Reports By Emergen Research

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Expanding gaming industry and greater investment by market players are key factor driving market revenue growth

Gaming Console Market Size – USD 36.17 Billion in 2020, Market Growth – at a CAGR of 5.1%, Market Trends – Increasing number of video game players”

— Emergen Research

VANCOUER, BC, CANADA, June 21, 2022 /EINPresswire.com/ -- The global gaming console market size is expected to reach USD 54.21 Billion in 2028 and register a CAGR of 5.1% during the forecast period. Global gaming console market revenue growth is driven by factors such as growth of gaming culture, high demand for video gaming, and rise in demand for advanced wireless technologies such as Bluetooth 5.0 and W-Fi. Gaming consoles are registering increasing popularity due to features such as High Definition (HD) display and complex graphics.

Expanding gaming industry and greater investment by market players are key factor driving market revenue growth . Widely popular gaming console producers like PlayStation has disclosed its aim for expanding its console game market share. Due to sustained dedication to the PlayStation brand, a growing audience of female gamers, and expansion outside of North America, Europe, and Japan, the firm believes PS5 will outperform the immensely popular PS4.

Some of the prominent players operating in the market are:

Microsoft Corporation, Valve Corporation, Nvidia Corporation, PlayJam, Nintendo Co. Ltd., BlueStacks, OUYA Inc., Sony Computers Entertainment Inc., Sega, and Atari.

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Emergen Research follows a cohesive methodology to reduce the residual errors to a minimum level by refining the scope, validating through primary insights, and nurturing the in-house database on a regular basis. A dynamic model is formulated to capture the regular fluctuations in the market and thereby, being updated with any shifts in the market dynamics. The parameters and variables involved in the research vary depending on individual markets and most importantly, both demand and supply side information is included in the model to identify the market gap.

The latest research report serves as a perfect example of the precise analysis of the global Gaming console market . It includes the ToC, list of tables and figures, research methodology, geographic segmentation, competitive landscape, future developments, and technological innovation. Moreover, the report offers the latest coverage of the massive impact of the COVID-19 pandemic on the worldwide Gaming console market industry.

Some Key Highlights from the Report :

Handheld segment revenue is projected to grow at a steady rate during the forecast period. This growth is mainly owing to the fact that such devices allow gamers to play games anywhere and even without internet connection.

Among other end use segments, residential segment revenue is expected register a rapid CAGR during the forecast period. The covid-19 pandemic has helped to further boost this segment’s growth as more people are gaming while following stay at home orders.

Among other platform segments, desktop/laptop segment revenue is expected register a rapid growth during the forecast period.

Asia Pacific is expected to account for a robust double-digit revenue CAGR during the forecast period. Countries such as Japan, South Korea, China, and Australia are major gaming hotspots, and demand for gaming consoles is relatively high among a steadily expanding base of new users.

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The report highlights the current impact of COVID-19 on the Gaming console market along with the latest economic scenario and changing dynamics of the market. It analyzes the impact of the pandemic on market growth and remuneration. The pandemic has changed the economic scenario of the world and has affected several sectors of the market. The report estimates the market for Gaming console market according to the impact of COVID-19.

Segments covered in the report:

Emergen Research has segmented the global gaming console market on the basis of platform, modality, application, end-use, and region:

Platform Outlook (Revenue, USD Billion; 2018–2028)
TV
Desktop/Laptop
Tablet
Mobile

Modality Outlook (Revenue, USD Billion; 2018–2028)
Home Consoles
Handheld
Hybrid

Application Outlook (Revenue, USD Billion; 2018–2028)
Shooter
Action
Sports
Adventure
Racing
Fighting
Others

End-use Channel Outlook (Revenue, USD Billion; 2018–2028)
Residential
Commercial
Others
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Geographic Segment Covered in the Report:

The Gaming console market provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.

North America (USA and Canada)
Europe (UK, Germany, France and the rest of Europe)
Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
Latin America (Brazil, Mexico, and the rest of Latin America)
Middle East and Africa (GCC and rest of the Middle East and Africa)

Some of the key questions answered in this report:

What will the market growth rate, acceleration, or growth momentum carry during the forecast period?

Which are the major factors driving the Gaming console market ?

What was the size of the progressing Gaming console market by value in 2021?

What will be the expected size of the emerging Gaming console market by the end of 2028 ?

Which region is predicted to register the highest market share in the Gaming console market ?

What trends, barriers, and challenges will impact the growth and sizing of the Global Gaming console market ?

What are the revenue, sales volume, and price analysis of leading manufacturers of the Gaming console market ?