Gaming Console Market - Forecasts from 2025 to 2030

The global gaming console market is projected to grow at a CAGR of 10.12% over the forecast period, increasing from US$56.018 billion in 2025 to US$90.683 billion by 2030.

Gaming consoles are devices designed to play video games and offer a more immersive gaming experience than playing games on a computer or mobile device. The gaming console market is a dynamic and highly competitive industry that has seen significant growth in recent years.

The growing globalconsumer electronicsdemand will also boost the gaming console's market share. The gaming console offers the users the ability to play games on multiple devices, like televisions and computers. Moreover, withthe introduction of new technologies, like gyroscopic gaming consoles, the share of gaming consoles will also grow significantly.

In its annual report, the Japan Electronics and Information Technology Industries Association (JEITA) stated that the sales of consumer electronics products witnessed massive growth in the nation. The agency stated that in April 2022, the total production of consumer electronics products in the nation was recorded at Yen 28.51 billion, which increased to YEN 35.02 billion in April 2023.

Gaming console market growth drivers

Rising demand for thegaming sector.

A major factor propelling the global gaming console market is the increasing global demand for thegaming sector. The introduction of new gaming technologies, like 3D and 4D gaming, and immersivegamingtechnologies boost the global gaming market significantly.

Microsoft Corporation, one of the biggest developers of gaming solutions, in its annual report, stated that its gaming segment's revenue increased significantly over thepast few years. The company stated that in 2021, it earned a total of US$15.37 billion in revenue from the gaming segment, which increased to US$16.23 billion, and contracted back to US$15.46 billion in 2023. Similarly, the revenue of Nintendo has also increased significantly in its gaming segment over thepast few years. The company stated that in 2022, the company's total revenue from the sale of Nintendo Switch Platform was recorded at YEN 1.50 trillion, which increased to YEN 1.53 trillion in 2023.

Gaming console market geographical outlook

The United States is expected to hold substantial share in the projected period.

The market for gaming consoles in the US is expanding due to several factors. The attractiveness of particular exclusive games, especially those tied to popular franchises, plays a major role in console preferences. Moreover, there has been a rising trend due to the popularity of e-sports and online multiplayer games, which has brought about competitive and social gaming. The rise of digital distribution has increased user convenience and interaction by allowing them access to a huge catalogue of games and downloadable content on demand, increasing its demand in the United States.

Furthermore, due to digitized content and fast internet, it has become easier for consumers to access and even play video games through the Internet. The country has an expansive gaming market, and several large video gaming companies are based in the United States.

In addition, there are many notable professional eSports leagues and teams within the country, and significant gaming festivals like E3 and PAX are regularly conducted here. The US game console industry has received a boost from this.

Moreover, the US gaming console market has been significantly impacted by the growth of gaming YouTubers or streamers. Gaming YouTubers are recognized today as themost sought-after activists within the gaming circle, with their recommendations and opinions carrying significant weight toward the purchases of consumers. To assist the audience in deciding whether to purchase a certain video game or a gaming console, several YouTubers create content oriented towards gameplay, video walkthroughs, and game reviews.

As a result, the US gaming console market has benefited from the growing popularity of US-based gaming YouTubers, as indicated by their YouTube subscriber counts. Additionally, 29% of players are 50 years of age or older. 53% of the players identify as male, while 46% identify as female.

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Report Coverage:

• Historical data & forecasts from 2022 to 2030
• Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
• Competitive Positioning, Strategies, and Market Share Analysis
• Revenue Growth and Forecast Assessment of segments and regions including countries
• Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)

The gaming console market is analyzed into the following segments:

By Console

• Home Console
• Handheld Consoles
• Hybrid Console

By Geography

• North America
• South America
• Europe
• Middle East and Africa
• Asia-Pacific