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Gaming Console Market Size

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

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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.

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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.

Gaming Console Market Report Attributes
Report Attribute	Details
Base Year:	2020
Gaming Console Market Size in 2020:	20 Billion (USD)
Forecast Period:	2021 to 2027
Forecast Period 2021 to 2027 CAGR:	8%
2027 Value Projection:	36 Billion (USD)
Historical Data for:	2017 to 2020
No. of Pages:	350
Tables, Charts & Figures:	559
Segments covered:	Type, Application, End-use, Region
Growth Drivers:	High demand for virtual reality-based gaming in North America Rising disposable incomes in Europe Growing popularity of cloud-based gaming in Asia Pacific Rise of online gaming industry in Latin America Growing penetration of internet in the Middle East & Africa
Pitfalls & Challenges:	Security breaches in IT systems High cost restricting adoption in underdeveloped countries

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Authors: Avinash Singh, Sunita Singh

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.